Latest news with #CRISIL
Business Standard
3 days ago
- Business
- Business Standard
Saatvik Green Energy Celebrates 10 Glorious Years of Clean Energy Excellence
VMPL Gurgaon (Haryana) [India], May 30: Saatvik Green Energy Limited ("SGEL"), one of India's fastest growing module manufacturing companies in India, marks a significant milestone today as it celebrates its 10-year anniversary. Founded on May 29, 2015, SGEL has established itself as one of the key players in India's solar energy market. SGEL was incorporated as a private limited company under the provisions of the Companies Act, 2013, under the name 'Saatvik Green Energy Private Limited', pursuant to a certificate of incorporation dated May 29, 2015. SGEL was subsequently converted from a private company to a public company, pursuant to resolutions passed by its Board on September 20, 2024 and by its Shareholders dated September 21, 2024, consequent to which its name was changed to "Saatvik Green Energy Limited." Since inception, SGEL has supplied more than 2.00 GW high-efficiency solar PV modules domestically and internationally. The company is recognized as one of the few companies with capabilities in module manufacturing as well as engineering, procurement and construction ("EPC"). (Source: CRISIL Report) SGEL is one of the leading EPC companies in India with 69.12 MW of an installed EPC base in Fiscal 2024. (Source: CRISIL Report) SGEL also provides operations and maintenance ("O & M") services to customers primarily in relation to the EPC projects undertaken by it. Reflecting on this journey and the road ahead, Prashant Mathur, CEO, Saatvik Green Energy Limited, said: "Our initiative to achieve backward integration into cell manufacturing is a critical step in our long-term growth and sustainability objectives. The company is expanding its manufacturing capacity with plans to set up an integrated cell and module manufacturing facility in Odisha. The new facility will have a cell line manufacturing capacity of 4.80 GW, which is expected to be operational in Fiscal 2027; and a module production capacity of 4.00 GW, which is expected to be operational in Fiscal 2026. In addition, SGEL also intends to establish a manufacturing facility for the production of ingots, cells and wafers in Mohasa - Babai, Madhya Pradesh." Celebrating the 10th anniversary of SGEL, Neelesh Garg, Chairman and Managing Director, added: "We intend to grow our customer base in both India and internationally by leveraging our reputation for solar modules and reliable EPC services. We aim to enter new markets and strengthen our presence in existing ones by offering innovative, cost-effective solutions tailored to diverse energy needs." Manik Garg, Managing Director, shared: "We intend to expand our distribution network across India to make our solar solutions more accessible to customers nationwide. We have already established regional warehouses across major Indian states such as Rajasthan, Maharashtra, Kerala and Madhya Pradesh. These warehouses serve as central points for solar module storage and distribution to ensure timely delivery to installers and end customers. We intend to collaborate with local distributors in various states that will enable us to have deeper market penetration, particularly in Tier II and Tier III cities. This will also help us to ensure that solar products are accessible even in remote areas, accelerating the adoption of solar energy across the country." SGEL commenced its manufacturing operations in 2016 and has over the years expanded its annual installed capacity, from 125 MW as of March 31, 2017 to about 3.80 GW as of February 28, 2025. Its revenue from operations has grown from Rs4,799.50 million in Fiscal 2022 to Rs10,879.65 million in Fiscal 2024 at a CAGR of 50.56%. Its EBITDA in Fiscal 2022 was Rs147.66 million and has grown to Rs1,568.44 million in Fiscal 2024 at a CAGR of 220.00%. SGEL currently operates three module manufacturing facilities in Ambala, Haryana (together, the "Ambala Facilities") spread across a total land area of 724,225 square feet, which together form one of the largest single location module manufacturing facilities in India. (Source: CRISIL Report) SGEL is in the process of adding a capacity of 1.00 GW in one of its module manufacturing facilities in Ambala, which is expected to be operational in the first quarter of Fiscal 2026, thereby increasing its installed capacity at its Ambala facilities to a cumulative 4.80 GW. About Saatvik Green Energy Limited Headquartered in Gurugram, SGEL is one of India's leading module manufacturers, in terms of operational solar PV module manufacturing capacity, with an operational capacity of approximately 3.80 GW modules as of February 28, 2025. The SGEL offers Mono PERC and N-TopCon modules,EPC services, and O & M capabilities. Disclaimer: SAATVIK GREEN ENERGY LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, an initial public offering of its Equity Shares and has filed the DRHP with SEBI and Stock Exchanges on March 13, 2025. The DRHP is available on the websites of SEBI, BSE and NSE at and respectively, and on the websites of the Book Running Lead Managers i.e. DAM Capital Advisors Limited at Ambit Private Limited at and Motilal Oswal Investment Advisors Limited at respectively and also at the website of the Company at investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" on page 54 of the DRHP. Potential investors should not rely on the DRHP for making any investment decisions. The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended ("U.S. Securities Act"), or any state securities laws in the United States, and unless so registered may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, such Equity Shares are being offered and sold (i) outside of the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur; and (ii) within the United States to "qualified institutional buyers" (as defined in Rule 144A under the U.S. Securities Act), pursuant to the private placement exemption set out in Section 4(a) of the U.S. Securities Act.
Business Standard
4 days ago
- Business
- Business Standard
IndusInd Bank receives ratings action from CRISIL
IndusInd Bank received credit ratings from CRISIL as under:Infrastructure Bonds (Rs 1500 crore) - CRISIL AA+ (continues on rating watch Negative) Basel III compliant Tier 2 Bonds (Rs 4000 crore) - CRISIL AA+ (continues on rating watch Negative) Short Term Fixed Deposit Programme - CRISIL A1+ (reaffirmed) Certificate of Deposits (Rs 40000 crore) - CRISIL A1+ (reaffirmed) Powered by Capital Market - Live News
New Indian Express
5 days ago
- Business
- New Indian Express
Bajaj Finserv FD Interest Rates for Senior Citizens: Higher Earnings Explained
Fixed deposits have long been a go-to investment option for Indian retirees—and for good reason. With assured returns, no market-linked risk, and flexible tenures, they provide a dependable income stream after retirement. Among the many options available, Bajaj Finance Fixed Deposit stands out for its blend of attractive interest rates and high safety ratings, making it a smart choice for senior citizens. Why Consider Bajaj Finance FD? With a maximum interest rate of up to 7.95% p.a., Bajaj Finance offers one of the most rewarding fixed deposit schemes in the NBFC space. The minimum investment starts at just Rs. 15,000, making it accessible to a wide range of investors, including retirees looking to park their life savings securely. Here's what makes Bajaj Finance FD a reliable option for senior investors: ● Special interest rates for senior citizens ● Flexible tenures ranging from 12 to 60 months ● Cumulative and non-cumulative options ● High credit ratings from CRISIL (AAA/Stable) and ICRA (AAA) Whether you're looking for regular income or aiming to grow your savings over time, Bajaj Finance FDs offer the flexibility to match your financial goals. Steady Returns for Senior Citizens Senior citizens benefit from slightly higher interest rates compared to the general public, helping them earn more over the long term. A senior citizen FD, for instance, offers attractive returns and added stability. For instance, a cumulative FD with Bajaj Finance at a tenure of 18 months can offer up to 7.95% p.a., depending on the age of the customer. Let's say you invest Rs. 5 lakh in a cumulative FD—by the end of 18 months, you could earn a significant corpus, all while avoiding market volatility.
Indian Express
7 days ago
- Business
- Indian Express
Microfinance loan delinquencies jump 163% to Rs 43,000 crore in FY2025
The microfinance sector in India is experiencing a significant surge in delinquencies, with portfolio at risk (PAR), or loans overdue for over 31 days, jumping by 163 per cent to Rs 43,075 crore in the fiscal year ended March 2025, up from Rs 16,379 crore in the previous year. This rise in delinquencies reflects the growing stress in the small borrower segment. Significantly, the microfinance industry's gross loan portfolio (GLP) fell to Rs 381,200 crore as of March 2025, marking a 13.9 per cent fall from Rs 442,700 crore a year ago. Data from CRIF High Mark, a credit information bureau, shows that PAR in the 31-180 days overdue bucket has gone up to 6.2 per cent during FY2025 as against 2.1 per cent in the same period of last year. PAR in the 180 days plus bucket has jumped from 1.6 per cent to 5.1 per cent during the fiscal. 'PAR of 91-180 days and 180 plus days (including write-offs) continue to rise, particularly among banks and small finance banks, followed by NBFC-MFIs, highlighting persistent challenges,' the agency said. According to CRIF High Mark, higher-ticket loans above Rs one lakh have experienced an uptick in all delinquency buckets as their share in POS expands, highlighting the need for greater caution. However, its delinquency is much lower than the lower-ticket sizes, it said. Rating firm CRISIL said lending to over-leveraged borrowers was the primary factor that resulted in higher delinquencies for microfinance institutions in the last fiscal. Resultantly, the reported delinquencies in 90 plus DPD (days past due) bucket are estimated to have more than doubled to 6.0 per cent as on March 31, 2025, from 2.4 per cent as on March 31, 2024. Increased borrowing from multiple sources has led to excessive debt burdens among borrowers. Further, external economic shocks and income uncertainties have impacted repayment capacities, financial sector officials said. The decline in microfinance gross loan portfolio reflects a deliberate and calibrated shift by lenders to manage emerging stress, especially in light of regulatory developments and evolving collection practices. Despite a seasonal rebound with disbursements rising 12.2 per cent Q-o-Q to Rs 71,500 crore, the year-on-year (Y-o-Y) figures remain subdued with a 38.0 per cent decline, signifying an industry-wide emphasis on quality focused originations, according to CRIF High Mark, a credit information bureau in India. The gross loan portfolio declined by 2.6 per cent on a quarter-on-quarter basis. State-level data revealed notable contractions in Tamil Nadu and Karnataka portfolios, influenced by anticipated ordinances and increased regulatory intervention on collection practices. However, West Bengal emerged as a bright spot with a 1.5 per cent Q-o-Q rise in portfolio size, CRIF High Mark said. Overall, the industry-wide trend indicates consolidation, with a visible moderation in borrowers maintaining multiple credit relationships, it said. The number of active microfinance loans declined from 16.1 crore in March 2024 to 14.0 crore in March 2025. Borrowers with 5 or more lender associations now constitute only 4.9 per cent of the total book, down from 9.7 per cent a year ago, it said. 'A key trend highlighted in the report is the growing shift toward higher-ticket loans. Portfolio for loans above Rs 1 lakh grew by 38.5 per cent Y-o-Y, whereas those in the less than Rs 30,000 segment were at -8.0 per cent Q-o-Q and -35.9 per cent Y-o-Y, underlining a shift away from smaller-ticket lending typically associated with this segment,' CRIF High Mark said. Amid these shifts, the sector remains on a path of long-term sustainability. While current indicators suggest cautious lending and persistent stress in parts of the portfolio, improvement in early-stage performance and a gradual move towards higher-quality credit segments are encouraging trends, CRIF High Mark said. Ramkumar Gunasekaran, Director and Head of Sales at CRIF High Mark, said: 'Lenders are making conscious choices that favour resilience, stability and long-term impact. The 12.2 per cent Q-o-Q rise in disbursements to Rs 71,580 crore this quarter, despite broader moderation, reflects continued demand and a disciplined credit approach.' 'As institutions recalibrate and regulatory frameworks evolve, we are confident that the sector is laying the groundwork for stronger and more inclusive growth. With continued focus and collaboration, we remain hopeful that the coming quarters will bring renewed momentum,' he said. It said NBFC-MFIs experienced a relatively smaller decline in GLP this quarter, down 1.8 per cent QoQ, supported in part by increased originations during the JFM period. However, on a YoY basis, the contraction has been more pronounced, with GLP dropping by 18.2 per cent, accompanied by a moderate reduction in overall market share. Among other lender types, SFBs are also witnessing a significant contraction, declining by 5.4 per cent Q-o-Q and 19.9 per cent Y-o-Y.
Yahoo
22-05-2025
- Automotive
- Yahoo
The New India Assurance Co Ltd (NSE:NIACL) Q4 2025 Earnings Call Highlights: Operational ...
Release Date: May 21, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. The New India Assurance Co Ltd (NSE:NIACL) reported a significant improvement in its combined ratio, reducing it from 119.88% to 116.78%, indicating better operational efficiency. The company achieved a stable solvency ratio of 1.991, up from 1.81, reflecting a strong financial position. Digital transformation initiatives have been successful, with a growing number of customers opting for digital channels to purchase policies and settle claims. The company maintained its market leadership in the general insurance sector with a market share of 12.6%. The New India Assurance Co Ltd (NSE:NIACL) has received high credit ratings, including a CRISIL AAA stable rating and an AM Best B++ good rating, indicating strong financial stability. Net profit after tax decreased to INR 988 crores in FY25 from INR 1,129 crores in FY24, indicating a decline in profitability. The underwriting loss remains significant, although it has reduced by 11% compared to the previous year. The company's return on equity (ROE) is relatively low at 4.66%, which is below industry expectations. The motor third-party (TP) business remains a challenge due to mandated pricing, impacting overall profitability. The company faced a reduction in gross written premium in the fire insurance segment, with a 23% decrease in Q4. Warning! GuruFocus has detected 6 Warning Signs with XIACY. Q: How is New India Assurance planning to approach the motor business in the coming year, especially if there is no price increase in the motor TP segment? A: Girija Subramanian, Chairman and Managing Director, explained that the company will continue its strategy from the previous year, focusing on the OEM segment and increasing private car business over commercial vehicles due to better ICRs. For the TP segment, which is mandated, the company will continue to align its OD strategy to ensure sustainability, but emphasized the need for a TP premium hike to avoid survival issues for companies. Q: What led to the decline in operating expenses during Q4, and can you explain the change in expense allocation policy? A: Vimal Kumar Jain, CFO, stated that the reduction in expenses was due to retirements and fewer offices, which decreased administrative costs. The change in expense allocation policy was guided by the regulator's UIM policy, which the company is already compliant with, so it did not significantly impact New India Assurance. Q: What is the debt versus equity mix of the investment book, and how does the company plan to reduce the combined ratio? A: The debt portfolio is around 70-72%, and equity is about 15%. Girija Subramanian noted that the combined ratio has decreased from 120 to 117, and the company is implementing strategies in claims management and risk selection to continue reducing it. Q: What specific measures are driving the improvement in the combined ratio, and what is the timeline for bringing it below 100%? A: Girija Subramanian highlighted initiatives like risk selection, shedding unprofitable group accounts, and automation to improve the combined ratio. The company aims to target a combined ratio of 110 in the near future, with a long-term goal of achieving below 100%. Q: How has the health line of business improved its loss ratio, and what are the future plans for pricing? A: Sushma Anupam, GM, explained that the improvement is due to a combination of price hikes and claims control measures. The company has implemented age-wise pricing and plans to review performance before considering further price revisions. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
