Bharti Airtel: Country’s top telecom player Reliance Jio has unveiled its internet-enabled 4G phone ‘JioBharat’ at a price of Rs 999 - aimed at attracting 2G users to convert to 4G. But experts say JioBharat may only be able to garner another 100 million 2G users to its fold. It is pertinent to mention here that 2G mobile users provide low ARPU (average revenue per user) to incumbent telecom players— Airtel and Vodafone Idea. Jio is a pure 4G player.
According to Crisil, the growth is expected to sustain over the medium term, supported by conducive policies, strong investor interest and healthy financial profiles, leading to stable credit quality of companies in the Crisil Ratings portfolio in both sectors.
However, these do not include spending on education, agriculture, public health and other key sectors, which are budgeted separately, it said. “The revenue expenditure of states can be broadly divided into committed and non-committed,” Crisil said.
Footwear: The operating margin is expected to grow by approximately 125 basis points to around 9 per cent due to lower raw material prices, yet it will remain below the pre-pandemic levels of approximately 10 per cent, said the report.
CRISIL said there has been a sharp deterioration in the financial risk profile due to continued operating losses, stretch in liquidity due to buildup of subsidy receivables.
An analysis of jute companies rated by CRISIL Ratings, accounting for 30% of the sector’s revenue, indicates as much.Exports, which form a third of the sector’s revenue of Rs 12,000 crore, are seen 15% lower this fiscal, after falling 8% last fiscal as overseas channel partners continue to destock amid slowdown worries in the US and Europe (key markets accounting for over 60% of the total exports from India).
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CRISIL Ratings on Wednesday said that India’s luggage industry revenue is set to rise 15% on-year this fiscal — despite a high-base effect of 40% growth last fiscal — owing to rising penetration of hard luggage made by the organised sector, and continuing growth in tourism and corporate travel.