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Moody's Associate Managing Director Vikash Halan says that with the country going to polls next year, a price increase in retail market doesn't look likely, which may hurt the margins for refiners
Maharashtra Scooters has topped the list of Indian companies with the highest EBITDA margins of at least 50% in FY23. The company reported an EBITDA margin of 89.5% with 11.5% growth in sales and 36.84% profit growth in the same year. Other companies in the list include SJVN, Nesco, Adani Green Energy, The Phoenix Mills, Gujarat Pipavav Port, among others. Analysts predict sustained earnings growth in sectors such as autos and cement due to falling input commodity costs. However, most sectors saw downgrades during the Q4 results season.
Nearly half of the $8 billion worth of dollar bonds maturing next year belong to corporates with speculative grade ratings.
According to Moody's, India's corporates will face earnings uncertainty over the near term as geopolitical developments and inflationary environment will impact demand. However, the credit quality of India Inc is expected to remain supported by the country's relatively strong economic growth, supportive government policies, and investments in large infrastructure projects. Moody's also expects India to remain a bright spot among its G20 emerging market peers in the steel sector. Sectors like hotels, aviation, construction, and renewable energy are expected to face healthy demand growth, while ...
The report expects the healthy profitability trend to continue, primarily driven by strong loan growth, which it sees to moderate to 11-11.7 per cent this fiscal from 15.5 per cent in fiscal 2023 and a favourable credit environment.