06 Mar 2024
Growth momentum will continue through this decade, piggybacking significant private investments in emerging sectors, continuing government spending on infrastructure, the on-going reforms push and efficiency gains from increasing digitalisation and physical connectivity.
22 Feb 2024
In the fiscal year 2023-24, the award of road contracts in India fell to its lowest level in a decade, significantly below the targeted amount. Official data from the road transport and highways ministry revealed that only 3,481 km of road contracts were awarded by January, far below the targeted 13,290 km for the year. This decline comes amidst the government's decision not to create new liabilities under the Bharatmala Pariyojana Phase-I.
27 Dec 2023
Crude price, which averaged at USD 55 a barrel between fiscals 2016 and 2021, increased to USD 86 a barrel on average since fiscal 2022. Higher crude prices have, in turn, incentivised increased capex in offshore exploration and production activities, driving up demand for offshore rigs.
22 Dec 2023
To ride on the momentum, the market leader in truck and bus radial tires is embarking on an expansion. It has planned a capital expenditure of INR 1,100 crore towards capacity expansion as well as maintenance of the existing infrastructure over the next two years.
21 Dec 2023
While the margin profile may vary widely across players operating in different segments, CRISIL said the average operating margin may continue to moderate to 33-35% in the next fiscal driven mainly by the correction in charter rates.
20 Dec 2023
After a historic 27% growth in FY23 with 3.9 million units sold, passenger vehicle (PV) sales in India are expected to grow at a moderated pace of 6-8% in FY24, according to an Olx Crisil Mobility report. Over the long term (5-year period), a healthy growth rate of 5-7% CAGR is projected. India's PV sales continue to advance at a brisk pace. For the third straight year, most other markets, which have seen sales inch up year on year, are still struggling to reach the pre-pandemic levels.
19 Dec 2023
Sales of construction equipment have risen by nearly a fifth since April and are likely to close the year at 125,000-130,000 units, breaching the previous peak of 107,779 units in FY23, said Dimitrov Krishnan, head of Volvo CE India. Prior to this, construction equipment makers had reported record sales of 98,000 units in the prepandemic year of FY19.
11 Dec 2023
The central government having directed sugar mills not to use cane juice or syrup to produce ethanol may hurt, to some extent, the blending with fuel but it is expected to increase the production of sugar, according to a Crisil report.
18 Oct 2023
Addressing the 4th CRISIL India Infrastructure Conclave 2023, union minister for road transport and highways Nitin Gadkari referred to cartelisation in the steel and cement industry and called for rating of DPRs and contractors to ensure good quality roads are built in India.
18 Oct 2023
CRISIL's CEO, Amish Mehta, stated, “India’s GDP is anticipated to grow at an average of 6.7% through fiscal 2031, positioning it as the fastest-expanding large economy. With per capita income projected to soar from roughly USD 2,500 currently to around USD 4,500 by fiscal 2031, infrastructure will play a pivotal role, with an emphasis on sustainability."
18 Oct 2023
According to a report by Crisil, two-wheeler sales in India are expected to see a compounded annual growth rate of 9-11% between 2023 and 2028, reaching 25.9-26.1 million units. By 2032, sales are expected to nearly double to 30.7-30.9 million units. The report also predicts a growth in passenger vehicle sales, with a CAGR of 5-7% between 2023 and 2028, and 4-6% between 2028 and 2032. India is also expected to invest heavily in infrastructure, with INR 143 lakh crore allocated for the next seven years.
14 Oct 2023
Automobiles, construction (which benefitted from truant monsoons) and information technology services sectors will be driving the revenue growth in the quarter, the rating agency said, adding that the year-on-year revenue growth in the preceding June quarter had stood at 7%.
05 Oct 2023
CRISIL recently unveiled a comprehensive report shedding light on the state of ADAS in India. This report delves into the emerging landscape of ADAS technology within the country, offering valuable insights into its adoption, impact, and potential to transform the automotive sector.
06 Sep 2023
A CRISIL Ratings analysis of India’s top six tyre manufacturers, accounting for ~80% of the sector’s INR 85,000 crore revenue, indicates that the operating margin should see a sharp expansion of 300-400 basis points to 13-14% this fiscal due to the softening prices of key raw materials, which are largely crude-linked. The higher profitability and moderate capital expenditure should improve their debt metrics this fiscal.
17 Aug 2023
"The rating action reflects a delay in servicing of debt obligations due to poor liquidity," Crisil said in its note. There has been a sharp deterioration in the financial risk profile of the company, Crisil noted, due to continued operating losses, stretch in liquidity due to buildup of subsidy receivables and lower-than-expected equity infusion from external investors.
12 Aug 2023
In the first four months of the ongoing fiscal year, India’s commercial vehicle industry has witnessed a contraction of 2% in volumes. The September quarter is typically a subdued one on account of the monsoon. Volumes are expected to revive subsequently supported by a stable macroeconomic situation and a pickup in construction activity.
22 Jun 2023
According to Crisil Ratings, Automotive Components Makers in India are expected to register a growth of 10-12% in revenue during the financial year 2023-24. The growth is credited to strong demand from automobile manufacturers and aftersales demand from services in the domestic market.
30 May 2023
The growth will be driven by the increasing preference for executive and premium motorcycles (>110 cc capacity) that yield higher realisations, according to Crisil.
16 May 2023
Under the agreement, Equipmake will license certain patented spoke motor and inverter technology in the power range of 100kW to 440 kW to Sona Comstar to manufacture and sell EV Powertrains, sub-systems, and components for electric cars, buses, commercial vehicles and off-road vehicles, Sona Comstar said.
11 Apr 2023
The combined capital expenditure of the 16 large states, which account for 80% of the country's gross domestic product (GDP), on roads and bridges will fall to 0.58% of the gross state domestic product, compared to 0.61% in the previous fiscal, according to their budgets.