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The Indian tea industry is expected to report an 8% decline in revenue this fiscal year due to a decrease in export volume, according to CRISIL Ratings. Operating profitability is also expected to fall for the second year in a row. However, low leverage and minimal capital expenditure are expected to keep credit profiles stable.
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).
An analysis of jute companies rated by CRISIL Ratings, accounting for 30% of the sectors revenue, indicates as much.Exports, which form a third of the sectors 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).