Press Releases

Consolidated total income for the quarter grew by 5.5% year-on-year, profit after tax up by 16.8%

Road developers in the engineering, procurement and construction (EPC) segment could see revenue growth halve in fiscals 2020 and 2021 to ~15%, compared with 30% in fiscal 2019, a CRISIL study of 75 companies it rates in this sector indicates.

CRISIL has been awarded the National CSR Award 2018 in the category ‘CSR in Challenging Circumstances, North East’ for its flagship project Mein Pragati Assam. The award was conferred by the President of India, Ramnath Kovind (photograph enclosed).

Wholesale loan book of non-banks – comprising non-banking financial companies (NBFCs) and housing finance companies (HFCs) – de-grew further by 3-5% in the first half of fiscal 2020 following a de-growth of 2% in the second half of fiscal 2019. This comes on the back of a 32% compound annual growth rate (CAGR) between fiscals 2016 and 2018; and 11% growth in the first half of fiscal 2019 (refer Annexure 1). With disbursements sluggish in the first half of this fiscal, prospects for the current year are subdued.

Recent defaults on some securitised instruments, triggered by a particular interpretation of recent Bombay High Court orders by an originator, pose a significant risk to the securitisation market and can materially reduce investor appetite if not addressed immediately.