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These 50 companies are from the metals (30 per cent of total debt), construction (25 per cent) and power (15 per cent) sectors, and account for half of the Rs 8 lakh crore non -performing assets (NPAs) in the banking system as on March 31, 2017.
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Good Budget and interest rate cuts can drive the growth in next quarter, DK Joshi, Chief Economist at Crisil Ratings said. While growth has been impacted, same can‘t be said for the growth trend.
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There is an urgent need to deepen the corporate bond market to meet the economy's rising fund requirements as infrastructure sector alone requires about Rs 43 trillion over next five years, according to credit rating agency Crisil
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"Amtek is not something that we had a rating on," its chief analytical officer Pawan Agrawal told reporters, acknowledging that the Amtek fiasco has raised many questions on quality of rating agencies' calls.
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If the draft RBI guidelines are implemented in its current form, it may have a significant impact on profits of banks because return on assets (RoA) will fall by 20 basis points in fiscal year 2017, says Pawan Agrawal, chief analytical officer at Crisil Ratings
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Market share of existing banks unlikely to be seriously impacted, says CRISIL.
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There could also be a positive rub-off on existing banks partnering with payments banks through increased access to unbanked and under-banked areas in a cost-efficient manner.
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These reforms we do not believe take care of issues in the immediate term but are creating a structural base which will help them resolve over a little longer term period of time, said Pawan Agrawal, Chief Analytical Officer at Crisil Ratings.
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Power projects with around 46,000 MW capacity are facing viability issues due to lack of long-term purchase agreements, inadequate fuel supply and aggressive bidding to win projects, says a Crisil report.
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India's wind power sector is likely to attract investments of more than Rs 1 lakh crore over next five years as the installed capacity is expected to double by 2020 on the back of government's initiatives making the sector profitable and sustainable, Crisil said.
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Wind-power capacity in India has grown an impressive five-fold in the last 10 years, touching 23,000 (mw) in March 2015. Growth is being propelled by tariffs - at Rs 4-5.5 per unit currently - inching towards grid parity. CRISIL expects this trend to continue, supported by favourable government policy towards renewable energy.
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Pawan Agrawal, chief analytical officer of Crisil Ratings gave his views on the banking sector, especially focusing on asset quality woes.
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The large companies need to deleverage balance-sheets stretched by loans for an improvement in the overall NPA situation of banks, which is around 12 per cent of the system now, it added.
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One of the big expectations from the Union Budget 2015 is that the government will give a little more money for bank capitalization. Clearly, that will be one of the measures with which the Budget‘s performance will be measured or will be decided.
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Between September and December, crude oil prices fell by a third, and closed 2014 at USD 55 per barrel. Because of this, prices of petroleum derivatives such as polymers and chemicals also declined by around 30 percent, leading to inventory losses for refiners, traders and manufacturers of downstream petroleum products
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The Reserve Bank of India‘s (RBI‘s) recent revision of the Basel-III liquidity guidelines will help banks meet the liquidity coverage ratio (LCR) threshold of 60 per cent by January 2015, says CRISIL.
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The central bank has halved the maturity of these bonds to 5 years from 10 years earlier.
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India's infrastructure and banking sectors will require Rs 10.4 trillion from the bond market over the next 5 years: CRISIL.
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Credit rating agency CRISIL expects loans to Indian truck and bus operators show signs of weakness, which will be a first in nearly three years, underlining the scale of the slowdown in country‘s transportation industry as economic growth stutters.
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Corporate India‘s credit quality trends will improve marginally in 2013-14, with demand pressures easing, commodity prices cooling-off, and interest rates declining during the year, says CRISIL Ratings.
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CRISIL Ratings, India's largest credit rating agency, believes that Reserve Bank of India's (RBI's) draft guidelines, if implemented in the current form, would increase the banking sector's provisioning requirement by Rs.150 billion between April 2013 and March 2015.
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CRISIL believes that the recent draft guidelines issued by the Reserve Bank of India (RBI) for non-banking finance companies (NBFCs) will adversely affect their profitability when implemented.
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The Indian securitisation market is adjusting well to the revised securitisation guidelines issued by the Reserve Bank of India in May 2012. After a brief pause following their introduction, market activity has resumed, says CRISIL Ratings.
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The Cabinet approval for restructuring is nothing short of a lifeline for state discoms. In the short term, this will ensure the resumption of much-needed flow of credit for discoms, and as a result, provide a boost to the entire supply chain of equipment and power suppliers as well as lenders to the sectors.
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CRISIL believes that loans restructured by Indian banks may increase sharply to Rs.3.25 trillion in FY13 against the earlier estimate of Rs 2 trillion.
