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Time of India
28-05-2025
- Climate
- Time of India
Rain damage assessment under way in Coimbatore district
COIMBATORE: An assessment of the damage caused by the recent heavy spells is under way in Coimbatore district. An official in the district disaster management authority said revenue, horticulture and agriculture departments were assessing damage to huts, properties and crops caused by continuous rain over the past four days. 'Hut damages were reported from Vellalapalayam, Periyanegamam, N Chandrapuram, Unjavelampatti, and Thalakarai areas in Pollachi block. In Kinathukadavu block, huts were damaged in Kappalankarai and Kakkadavu villages on Tuesday,' the official said. Heavy rain accompanied by strong winds destroyed more than 15,000 banana plants in Theethipalayam, Kuppanur and surrounding areas in the district. The Thondamuthur region experienced intense rainfall on Tuesday, while Valparai hills received widespread rain that caused damage to roads, electric poles and trees. Periyasamy, a farmer in Theethipalayam, said as the banana plants were at the harvesting stage, farmers suffered significant losses. 'Horticulture and revenue departments and district administration should conduct a field survey and ensure appropriate compensation from the disaster response fund for the affected farmers,' he said. "Horticulture department officials say the existing govt order provides only Rs17,500 per hectare as compensation from the disaster response fund, which amounts to about Rs 6 per banana plant," he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bolsas nos olhos? (Tente isso hoje à noite) Revista Saúde & Beleza Saiba Mais Undo 'A banana sapling costs Rs 25 at the nursery, and the total production cost is around Rs 300 per plant. Currently, the market value of a banana plant is between Rs 750 and Rs 800. After a year of investment, receiving only Rs 6 per plant is unacceptable. The district administration should recommend changes to the govt order to ensure adequate compensation for banana crops, considering the scale of farmers' losses,' Periyasamy said. Selvaraj, a farmer in Kuppanur, urged the authorities to conduct a field assessment at the earliest to provide timely and adequate relief. He urged them to educate farmers on measures to protect banana plants from wind damage.
India Gazette
27-05-2025
- Business
- India Gazette
Stress in the microfinance sector should recede over the next two quarters: Report
New Delhi [India] May 27 (ANI): The worst is over for India's microfinance sector, with stress levels posed to ease over the next two quarters, said Axis Securities in its latest report. Microfinance companies are hopeful that growth will return to normal from the second half of the financial year (FY) 2026. However, the report added that the first half of FY26 is likely to remain tough, with higher loan defaults and slower business expansion. The report says that key factors such as the ongoing impact of the Karnataka ordinance and the possible effects of a similar law in Tamil Nadu will be worth watching, which could affect lending operations. On the brighter side, secured lending such as home and diversified loans is expected to benefit from favourable conditions, helping those lenders grow at a strong pace of 24 per cent year on year between FY25 and FY27. The vehicle financiers are expected to benefit from the improved infrastructure spending, better rural incomes and improving capacity utilisation of fleet, enabling vehicle financiers to deliver a robust 19 per cent CAGR growth over FY25-27. Furthermore, the report added that despite fresh delinquency accretion peaking out, micro-financiers will continue to see elevated slippages and accelerated write-offs in the first half of fiscal 2026. 'Credit costs will continue to remain elevated for micro-financiers for the coming couple of quarters. For other financiers, we could expect asset quality improvement,' the report added. The Axis Securities report expects recovery in both microfinance and credit from H2FY26. 'we expect gradual normalisation in credit costs, thereby supporting earnings. Navigating the headwinds effectively, we expect NBFCs under our coverage to deliver an earnings growth of 23 per cent CAGR over FY25-27E, with improving credit costs being a key improvement driver,' the report added. As per Industry data the business of Micro Finance Institutions (MFIs) industry has risen from Rs17,264 crores in March'12 to Rs3.93 lakh crores as of November 2024. The microfinance industry operates in over 723 districts, including 111 aspirational districts across 28 states and 8 Union Territories. It also caters to the financial needs of almost 8 crore borrowers. MFIs contribute 2.03 per cent of the gross value added to GDP and support 1.3 crore jobs. (ANI)
Business Recorder
24-05-2025
- Business
- Business Recorder
Weekly SPI down 0.29pc
ISLAMABAD: The SPI for the current week ended May 22, decreased by 0.29 percent. Major decrease has been observed in the prices of chicken (7.26 per cent), onions (5.43 per cent), garlic (2.71 per cent), LPG (2.44 per cent), potatoes (0.95 per cent), mustard oil (0.80 per cent), diesel (0.78 per cent), masoor (0.46 per cent), cooking oil (0.14per cent), rice IRRI-6/9 (0.09per cent), firewood (0.06 per cent), and vegetable ghee 2.5kg and sugar (0.05 per cent) each, says Pakistan Bureau of Statistics (PBS). The year-on-year trend depicts an increase of 1.35per cent, ladies sandal (55.62 per cent), chicken (45.12 per cent), moong (30.79 per cent), powdered milk (24.01 per cent), bananas (22.43 per cent), sugar (22.12 per cent), eggs (21.52 per cent), pulse gram (20.70 per cent), beef (17.56 per cent), vegetable ghee 2.5kg (13.86per cent), LPG (13.05per cent), and vegetable ghee 1kg (12.76per cent). On the other hand, the items prices of which decreasedinclude; onions (54.93 per cent), potatoes (30.46 per cent), garlic (29.43 per cent), electricity charges for Q1 (29.40per cent), tea Lipton (17.93per cent), wheat flour (16.63 per cent), maash (16.03 per cent), tomatoes (14.03 per cent), chilies powder (12.30 per cent), rice IRRI-6/9 (8.50per cent), masoor (7.64 per cent) and petrol (7.43 per cent). During the week, out of 51 items, prices of 13 (25.49per cent) items increased, 14 (27.45per cent) items decreased and 24 (47.06per cent) items remained stable. The SPI for the consumption group up to Rs17,732, Rs17,732-Rs22,888, Rs22,889-Rs29,517, Rs29,518-Rs44,175 and above Rs44,175 decreased by 0.26per cent, 0.27per cent, 0.26per cent, 0.28per cent and 0.30per cent respectively. The items prices of which decreased during the period under review include, chicken farm broiler (live) 1kg7.26 per cent, onions 1kg 5.43 per cent, garlic (lehsun) 1kg 2.71 per cent, LPG 11.67 kg cylinder each 2.44 per cent, potatoes 1kg 0.95 per cent, mustard oil (average quality) 1kg 0.80 per cent, hi-speed diesel per litre 0.78 per cent, masoor (washed) 1kg 0.46 per cent, cooking oil Dalda or other similar brand (sn), 5 litre tin each 0.14 per cent. Copyright Business Recorder, 2025
Express Tribune
19-05-2025
- Business
- Express Tribune
High cotton imports set off alarm bells
Despite the onset of the new cotton ginning season in mid-May, the duty-free import of cotton and cotton yarn has continued unabated, setting off alarm bells across the domestic industry. The unchecked imports have caused widespread concern among farmers, ginners and industrialists, who fear that the entire cotton industry, including the ginning factories, is headed towards an unprecedented crisis. According to industry estimates, during cotton season 2025-26, the ginning and textile sectors may run at less than 50% of their production capacity. This slowdown is not only expected to impact employment and production but also result in a surge in imports of cotton and edible oil worth billions of dollars. Cotton Ginners Forum Chairman Ihsanul Haq told The Express Tribune that three ginning factories had started functioning in Khanewal and Burewala in Punjab while reports suggested that one or two units would be operational in Tando Adam in Sindh on May 25. Initially, new cotton deals are being settled at Rs17,000 to Rs17,500 per maund while phutti sales are taking place in the range of Rs8,300 and Rs8,500. In a policy shift, he said, the government has permitted the import of cottonseed for the first time in nearly 50 years. Even before the approval, some high-ranking officials and private seed companies imported cottonseed from China, Australia, the US and Brazil for trial cultivation in various parts of Pakistan.
Time of India
17-05-2025
- Business
- Time of India
Arvind Fashions reports Rs 17 crore Q4 Loss despite 13.7% YoY revenue growth
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Arvind Fashion Ltd, which sells fashion brands such as Arrow Calvin Klein , and Tommy Hilfiger in India, reported a sharp decline of 192% on a year-on-year (yoy) basis in standalone net loss at Rs17 crore for its fourth quarter ending March, but with a revenue growth of 13.7% yoy at Rs150 crore for the same period. The company did not share any reason behind this fall in its earnings the fiscal ending March 31, 2025, net profit stood at Rs37.8 crore which grew strongly from last year's losses of Rs11 crore in FY24. The company posted revenue of Rs665.9 crore which grew by 9.3% yoy in the same duration. Shailesh Chaturvedi , managing director and CEO, said in the earnings statement, 'FY25 results reflect sharp execution of company's strategic plans and consistent financial performance across the brands leading to an improvement in all KPIs, while demand environment remained muted. Our mantra of profitable growth has helped in achieving the milestone of ROCE (return on capital employed) crossing 20%.'The company posted profits this year driven by increased focus on adjacent categories such as womenswear , and innerwear. The company also focussed on lower discounting with a higher revenue mix at 42% and achieved 15% growth in retail channel on a year on year also mentioned that the company plans to focus on online presence and expansion in the coming future.
