The company achieved revenue of Rs 135.5 crore in the first nine months of 2020-21. Its order book stood at Rs 610 crore as on December end, which provides moderate revenue visibility for the next two-to-three years.
On account of the excess liquidity in the system, a similar trend was observed in CD-overnight index swap negative spread, which is showing green shoots in credit demand.
February 22, 2021
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Credit rating agency estimates GNPA at 8.8% in FY21 (FY22: 10.1%); stressed assets at 10.9% (11.7%)
India Ratings and Research on Monday said it has revised its outlook on the overall banking sector to stable for 2021-22 from negative.
“This is because substantial systemic measures have reduced the system-wide Covid-19 linked stress below the expected levels. Banks have also strengthened their financials by raising capital and building provision buffers,” it said in a statement.
The agency has revised the outlook for public sector banks to stable in 2021-22 from negative.
“The regulatory changes led to an improvement in public sector banks’ ability to raise AT-1 capital, a high provision cover on legacy non performing assets, overall systemic support resulting in lower-than-expected Covid-19 stress, and minimal surprises arising out of amalgamation of PSBs,” it said.
It estimates that overall stressed assets (gross non-performing assets (GNPA) + restructured) could increase 30% for the banking system, the increase is almost 1.7 times in the retail segment in the second half of the fiscal 2020-21