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Latest Articles in ICRA Ratings

Indian Pharma Cos To Grow By 7-9% In FY24, Domestic Expansion On Cards

The credit rating agency ICRA expects the revenues of the sample set of 25 Indian pharmaceutical companies (which account for 60 per cent of the overall Indian pharmaceutical industry) to grow by 7-9 per cent in FY2024, post a YoY growth of 10 per cent in FY2023, the rating agency said in a statement

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Indian Pharma To Grow By 6-8% In FY24, Aided By Price Hikes In NLEMs: ICRA

The agency stated that the IPM witnessed a YoY growth of 7.7 per cent in 9M FY2023 supported by a price growth of 6.8 per cent and growth of 2.3 per cent from new product introductions, while volumes declined by 1.2 per cent. ICRA predicts that price increases will remain the primary growth driver for IPM in the near term

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Indian Hospital Industry To Post Robust Performance In FY2023: Report

The agency said that improving payor mix, growth in surgery volumes, price revisions by companies to offset cost inflation and faster throughput in discharges are expected to aid healthy growth of 8 to 10 per cent in average revenue per occupied bed (ARPOB) for the sample set in FY2023

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Elevated ATF Prices, Rupee Depreciation May Pose Threat To Carriers' Recovery: ICRA

On Wednesday, ICRA said elevated Aviation Turbine Fuel and depreciation in Rupee value are likely to pose a serious problem to recovery process for domestic carriers.

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Power Demand In India Expected To Grow 6 % In FY22: Icra

The electricity demand slowed down during the first two months of 2021-22 compared to March 2021 amid lockdowns imposed by state governments to control the second wave of COVID-19

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Surge In COVID Cases May Impact NBFCs' Fund Raising Via Securitisation: Report

As the economic activities gradually resumed and loan disbursements gained momentum, even reaching pre-COVID levels for some NBFCs, the securitisation market saw a healthy uptick in volumes during H2 FY2021

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Auto Parts Industry Revenue To Grow 16-18 % In FY22; Outlook Revised From Negative To Stable: ICRA

ICRA expects the domestic auto component industry's revenue to grow by 16-18 per cent in 2021-22, supported by increasing content per vehicle, low base effect and higher realisations, partly from the pass through of commodity price hikes.

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Moderation in asset quality pressure to drive earnings growth for banks: ICRA

Moderation in asset quality pressure to drive earnings growth for banks: ICRA

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Ensuing Tariff Hikes To Fuel Revenue Growth, Better Debt Metrics For Telcos In FY2022: ICRA

The industry topline is expected to grow by 11-13 per cent over the next two years, with operating margins improving to about 38 per cent for the financial year 2022 on the back of improved cash flows, moderate capex and limited borrowings

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Asset Quality Of India's Housing Lenders Likely To Worsen - ICRA

In the non-housing segment, the GNPA could be higher at 3-4.5% by the end of fiscal year 2021 from 2.5% at the end of this fiscal year.

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Credit Quality Worsened In FY2020; Certain To Worsen Further: ICRA

As a result, rating downgrades by ICRA increased significantly during the year, both in terms of number as well as severity.

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Slowdown To Compress Incremental Credit Growth In FY20: ICRA

Non-banking financial companies (NBFCs) and housing finance companies (HFCs) to the banking system for their funding requirements had boosted bank credit growth in 2018-19.

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Benefit Of Corporate Tax Rate Cut For India Inc To Boost Incremental Investments: ICRA

Few sectors to benefit more and may pass on benefits to end-users while others may have a limited benefit

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Auto Components Industry To Record Higher Growth Of 13-15% For FY18: ICRA

Earlier, ICRA had estimated the growth of Indian auto component industry to be somewhere around 9-11 per cent

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Government’s Focus On Road Sector Yields Positive Results, Outlook Stable: ICRA

It further added that, earlier the sector was marred by execution delays, project cancellations, stalled projects, loss of lender confidence, leveraged balance sheets of developers and sluggish traffic growth

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