Latest news with #MehulPandya
Time of India
3 days ago
- Business
- Time of India
CareEdge rates $3bn global debt, domestic ratings up 66% in Q1
MUMBAI: CareEdge Ratings is positioning itself as a global player in sovereign and cross-border corporate ratings through its Gift City-based subsidiary, CareEdge Global IFSC, and is engaging with global debt issuers and institutional investors like sovereign wealth funds. Tired of too many ads? go ad free now "We are already among the top 10 global rating agencies when it comes to sovereign ratings by number of countries rated," said MD & CEO Mehul Pandya. The agency has rated 39 sovereigns and about $3 billion of debt, largely for Indian companies raising money overseas. "A country poised to become the world's third-largest economy should have its own global audit and rating firms," Pandya added. Domestically, the surge in bond issuance following the cut in interest rates has improved prospects for the agency. "The bond market in Q1 has grown significantly. "We had a 66% jump from Q1 last year to Q1 this year in terms of the value of debt raised in the bond market," said Revati Kasture, executive director CareEdge and CEO CareEdge Global. According to Kasture, IFSC, the international arm is already the fifth largest by coverage and aims to challenge conventional methodologies. "When we studied the methodologies of global rating agencies, we found areas that could be improved. "These older frameworks sometimes fail to capture today's geopolitical realities," she said. "For example, our model was able to flag Greece's vulnerabilities three years before its default." Of the 39 sovereign ratings, 50% differ from large global agencies, and in 12 cases others have moved closer to CareEdge's view. "France was one such case. We rated it AA- with a negative outlook, and all three agencies have since moved down to that level," Kasture said. The firm also provides technical assistance.
Fashion Value Chain
18-07-2025
- Business
- Fashion Value Chain
CareEdge, NSE Partner to Advance African Capital Markets
CareEdge Global IFSC Ltd, a subsidiary of CareEdge Ratings, has formalized a strategic Memorandum of Understanding (MoU) with the Nairobi Securities Exchange (NSE) to support capital market advancement in Africa. This alliance will enable deep collaboration in knowledge exchange, capacity development, and analytical insights, aimed at fostering innovation, strengthening investor confidence, and supporting financial inclusion. As part of the MoU, CareEdge Global will operate as a Knowledge Partner, Rating Partner, and Strategic Collaborator to NSE. The collaboration includes co-hosted events, expert panels, training programs, and global delegation participation designed to enhance transparency and market maturity. Mehul Pandya, MD & Group CEO of CareEdge, said, 'This milestone partnership allows us to extend our analytical capabilities to support African capital market growth, enabling innovation and building resilient systems.' NSE CEO Frank Lloyd Mwiti highlighted, 'This collaboration strengthens our market intelligence and aligns with our goal to position Nairobi as a leading financial hub in Africa.' Revati Kasture, CEO, CareEdge Global IFSC Ltd, added, 'This partnership empowers institutions through strategic insight and value-driven collaboration.' Saurav Chatterjee, CEO, CareEdge Ratings Africa, noted, 'As we expand our Africa presence, this alliance becomes a critical step toward analytics-driven market development and reform.' Aakash Jain, Head of Corporate Affairs, CareEdge Ratings, stated, 'This initiative exemplifies CareEdge's commitment to global partnerships through meaningful engagement in data and policy.' David Wainaina, Head of Trading & Analytics at NSE, remarked, 'The partnership will elevate our analytics infrastructure, enabling smarter trading and data-led decision-making.' The MoU underscores mutual goals of market integration between India and Africa, promoting research-led frameworks, policy dialogues, and economic development through informed collaboration.
Fashion Value Chain
01-07-2025
- Business
- Fashion Value Chain
CareEdge & Invest India Partner to Boost Investor Insights
CareEdge Global IFSC Limited has formalized a strategic partnership with Invest India through a Memorandum of Understanding (MoU), appointing CareEdge as a Knowledge Partner on a non-exclusive basis. Under this alliance, both organizations will collaborate on domestic and international events and knowledge-sharing initiatives. CareEdge Ratings will actively participate in Invest India's forums and contribute thought leadership through white papers, expert panels, and strategic discussions. The agreement also outlines joint training programs, with CareEdge hosting sessions for Invest India officials, and vice versa. Mehul Pandya, MD & Group CEO, CareEdge, highlighted the MoU's significance, citing India's emergence as the fourth largest global economy. He emphasized CareEdge's role in fostering informed decision-making through sectoral insights and research excellence. Nivruti Rai, MD & CEO, Invest India, expressed that the partnership aims to bolster investments in critical sectors and support the Make in India initiative. She noted CareEdge's capabilities in creating impactful knowledge frameworks. Revati Kasture, CEO, CareEdge Global IFSC, added that this collaboration merges CareEdge's analytical expertise with Invest India's investment promotion strength, accelerating meaningful investments aligned with national priorities. Sidharth Narayanan, COO, Invest India, stated the MoU signifies a shared goal of strengthening transparency and trust in India's investment climate. The MoU is set for an initial term of three years, with provisions for extension upon mutual agreement.
Business Standard
13-05-2025
- Business
- Business Standard
CARE Ratings soars as Q4 PAT rallies 77% YoY to Rs 43 cr; declares dividend of Rs 11/sh
CARE Ratings zoomed 11% to Rs 1490.60 after the ratings agency's consolidated net profit rallied 76.93% to Rs 42.60 crore on 21.64% increase in revenue from operations to Rs 109.65 crore in Q4 FY25 over Q4 FY24. Profit before tax (PBT) stood at Rs 58.88 crore in Q4 FY25, up 62.96% year-on-year (YoY). EBITDA rose 63% YoY to Rs 47.4 crore during the period under review. EBITDA margin stood at 43% in Q4 FY25. The company's revenue from Ratings Business jumped 24.04% YoY to Rs 97.61 crore. Its revenue from Non-Ratings Business rose 3.45% YoY to Rs 12.26 crore. On a standalone basis, the companys net profit jumped 44.88% to Rs 44.88 crore on 21.98% rise in revenue from operations to Rs 91.23 crore in Q4 FY25 over Q4 FY24. Mehul Pandya, Managing Director & Group CEO of Care Edge, said: In FY25, CARE Ratings Ltd. achieved its highest-ever standalone and consolidated income from operations, registering year-on-year growth of 19% and 21%, respectively. This performance reflects our steadfast commitment to quality-led growth. Our standalone ratings business continued to demonstrate strong traction, particularly in initial ratings of capital market instruments, securitisation, and bank debt. The consolidated performance was further bolstered by an enhanced contribution from our non-ratings businesses, aided by strong showing from our overseas rating subsidiaries. The standalone EBITDA improved by 22%, underscoring our continued focus on operational efficiency. Other income also improved, supported by better yields from treasury investments. As a result, standalone PAT registered a healthy growth of 24% over the previous year. At the consolidated level, the EBITDA margin improved from 34% to 39%, reflecting significantly improved performance across our subsidiaries. Consolidated PAT margin improved from 27% to 31%, reinforcing the strength and scalability of our increasingly diversified business lines. For Q4 FY25, we recorded a 22% year-on-year growth in both standalone and consolidated income from operations. Notably, standalone and consolidated PAT for the quarter grew by 29% and 77%, respectively, marking a substantial improvement in profitability across the Group. Meanwhile, the board has recommended a final dividend of Rs 11 per equity share. The record date for dividend payment is set as Friday, 27 June 2025. CareEdge is a knowledge-based analytical group offering services in Credit Ratings, Analytics, Consulting and Sustainability. Established in 1993, the parent company CARE Ratings (CareEdge Ratings) is Indias second-largest rating agency, with a credible track record of rating companies across diverse sectors and strong position across the segments.
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Business Standard
30-04-2025
- Business
- Business Standard
Maharashtra leads in growth and governance; Gujarat and Karnataka follows
Gujarat topped the economic chart of the country, driven by strong performance in per capita Gross State Domestic Product, Foreign Direct Investment (% of GSDP) and Gross Fixed Capital Formation Md Zakariya Khan New Delhi Maharashtra has emerged as the top-performing state in the CareEdge State Ranking Report 2025, delivering its strong performance across economic, social, environmental and governance parameters. Maharashtra' s inclusive growth, better infrastructure, and sound fiscal management positioned it as a top state in advancing the government's vision of becoming a developed nation by 2047. This is followed by Gujarat and Karnataka, placed at the second and third positions respectively. The annual rankings are based on 50 data points across seven areas: economy, government finances, infrastructure, financial growth, social development, governance, and environment. However, Gujarat leads in economic performance due to the state's high per capita income, strong foreign investment, and industrial growth. Karnataka scores high because of its diverse economy and good environmental practices. Overall, states from western and southern India dominate the top spots. 'This exercise endeavours to capture the long-term growth potential while also focusing on the quality and inclusiveness of the state's growth model. All these aspects remain crucial to assess the investment attractiveness of any state,' said Mehul Pandya, MD and Group CEO, CareEdge. Western and Southern states in top five rankings According to the report, Western states stood out for their strengths in fiscal management, economic performance, and financial development, while Southern states scored high across economy, financial growth, environmental sustainability, and governance. (Source: CareEdge Ratings) Odisha shines in managing public finances, especially in controlling debt and interest payments. It is followed by Gujarat and Maharashtra. Interestingly, Punjab and Haryana performed well in infrastructure, followed by Telangana. While Kerala and Tamil Nadu lead in social programmes. Andhra Pradesh is praised for good governance, and Karnataka again stands out for environmental efforts. Goa ranks highest among smaller and hill states (Group B), with steady performance in finance, infrastructure, economy, and social areas. The rankings do not include Union Territories and focus on giving a data-based view of how states are doing and how attractive they are for investment. 'We believe such an assessment will enable key stakeholders and decision-makers to understand the state-specific nuances better. This will facilitate informed decision-making and fine-tuning existing policies to suit the diversity in Indian states,' Pandya said.
