The agencies’ assertion comes as a strong rebuttal to short seller Viceroy’s allegations that had charged Vedanta Ltd’s parent, Vedanta Resources of structural subordination and reliance on dividends to service debt.

The CRISIL report further said that stock prices for both Vedanta Ltd and Hindustan Zinc Ltd have already recovered since the publication of the report.

“Crisil Ratings has taken note of the short-seller report on the Vedanta group, published on July 9, 2025, and the subsequent intraday volatility in the share prices of Vedanta Limited and Hindustan Zinc Limited. The Vedanta management in response, via its press release dated July 9, 2025, has dismissed all the charges. Crisil notes that the stock prices for Vedanta Limited (VEDL) and Hindustan Zinc Limited (HZL) have recovered since the report’s publication,” the note said.

Crisil has ratings outstanding on 11 entities of the Vedanta group including Hindustan Zinc, ESL Steel Ltd, Talwandi Sabo Power Ltd and Sesa Resources Ltd and ratings have been reaffirmed for all.

“Crisil keeps all its outstanding ratings under continuous surveillance. The ratings of Vedanta and its subsidiaries continue to be supported by the strength of the business risk profiles of their Indian operations and healthy financial performance,” the note said.

Similarly, ICRA has drawn comfort from the Group’s stated commitment towards continued debt reduction. The leverage (net debt/OPBDITA), including Vedanta Resources Limited’s (VRL) debt, improved to 2.5 times in FY2025 compared to 3.2 times reported in FY2024. Healthy profitability, particularly in the aluminium and zinc operations, is expected to further support the Group’s leverage profile.  Moreover, ICRA considers the total debt and financial expenses of VRL to calculate the adjusted leverage and coverage metrics of Vedanta Limited (VDL).

As per credit rating methodology, AAA rating signifies Instruments with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations. Such instruments carry lowest credit risk. Similarly, AA rating signifies Instruments with this rating are considered to have high degree of safety regarding timely servicing of financial obligations. Such instruments carry very low credit risk.

Therefore, the allegations made in the report regarding Vedanta’s unsustainable debt and financial fragility are completely unfounded and lack any credible basis. Given that Vedanta’s instruments carry the highest (AAA) and very high (AA) credit ratings, it clearly demonstrates their robust financial health and exceptional capacity to meet their obligations on time. Such ratings unequivocally reflect the lowest levels of credit risk, firmly contradicting any claims of vulnerability or instability. At Vedanta Resources Limited’s level, the recent refinancing of debt has smoothened the maturity profile over the long tenure and is likely to reduce the finance cost FY2026 onwards.

The post Vedanta’s Credit Ratings Reaffirmed by CRISIL and ICRA appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

This marks the second rating upgrade by CRISIL in 2024, reflecting Suzlon’s strong operational efficiencies, disciplined financial management, and consistent quarter-on-quarter growth. Earlier this year, CRISIL had assigned Suzlon a rating of ‘CRISIL A-’, which has now been further upgraded to ‘CRISIL A’ in recognition of the company’s improved financial metrics and growing opportunity in the dynamic renewable energy sector. CRISIL also assigned positive outlook reflecting possibility of WTG business outperformance on higher execution volumes.

Himanshu Mody, Chief Financial Officer, Suzlon Group said, “This upgrade to an ‘A’ rating with a Positive Outlook by CRISIL reflects the strong confidence of our stakeholders and our commitment to financial and operational excellence. Suzlon is proud to be among the few companies to achieve two consecutive credit rating upgrades in a year, showcasing our disciplined approach to financial management and growth. This milestone reinforces our focus on creating value through efficient capital management and sustainable business practices, strengthening our position as a trusted leader in the renewable energy sector.”

The post CRISIL upgrades Suzlon Energy Limited ratings second time in a year appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Bengaluru, 30 September 2024 – DBS Bank India, in collaboration with CRISIL, has unveiled the third report in its ‘Women and Finance’ series. Based on a survey of 400 self-employed women across 10 major Indian cities, the report reveals unique insights into their circumstances and experiences as entrepreneurs.

It examines their sources of business funding, banking habits, digital payment preferences, workforce dynamics, and adoption of sustainability measures within their businesses. Additionally, the report delves into challenges such as perceptions of gender bias and analyses how factors like age, income level, and geographical location shape their decisions. It identifies critical areas where women entrepreneurs seek support and opportunities for business enablement.

Sources of Business Funding:

65% of self-employed women in Indian metros have not taken a business loan, with 39% relying on personal savings to fund their enterprises. Among those who have obtained loans, bank loans were the primary choice, preferred by 21%. Women entrepreneurs often use personal assets for collateral, with 28% leveraging personal property and 25% turning to gold—reflecting their risk-averse approach to investments. 64% of respondents who use gold as collateral predominantly invest in safer options like savings accounts and gold.

Awareness of government schemes:

The survey revealed a significant awareness gap regarding government schemes, with 24% of respondents indicating they were unaware of available options. Additionally, 34% stated they had not utilised any government scheme for their businesses. To bridge this gap, the DBS Foundation has launched a robust training program in partnership with Haqdarshak to boost financial literacy and empower women to access government entitlements and financial services. The program targets 200,000 marginalised beneficiaries, with women comprising 80% of the participants.

Banking products:

39% of women entrepreneurs use cash credit (CC) and overdraft (OD) facilities, followed by corporate credit cards (25%) and property-backed term loans (11%). 39% of respondents cited competitive interest rates and flexible repayment terms as key factors influencing their choice of bank for loans.

Support beyond financial assistance: 

Beyond financial support from banks, women entrepreneurs expressed a desire for mentorship (26%), support in navigating government schemes (18%), and assistance in digitalising financial processes (15%). In terms of business enablement, 18% were interested in women-based communities, and 13% sought access to industry-specific financial data and benchmarks.

Commenting on the report, Divyesh Dalal, Managing Director & Head – Global Transaction Services, SME and Institutional Liabilities, DBS Bank India, said, “The insights from our latest ‘Women and Finance’ report highlight key areas where we can make an impact. We see opportunities to boost awareness and adoption of government entitlements through education and training. Additionally, it underscores the need to build entrepreneurial ecosystems with networking platforms and communities that foster collaboration, mentorship, skill-building, and knowledge exchange to accelerate growth for women in business. DBS Bank India goes beyond traditional banking to support entrepreneurs and be a trusted partner for SMEs and startups. We will continue working with partners like CRISIL to better understand and empower women in their entrepreneurial journeys, backed by data-driven insights.”

The bank has leveraged insights from the report to design a customised proposition for women entrepreneurs, working closely with its ecosystem partners. Through its partnership with Zaggle, DBS Bank India will offer exclusive benefits, such as discounts on Zaggle EMS, a tool that streamlines expense management. Women entrepreneurs will also receive a reduction in card issuance fees and service charges for Zaggle’s payment and tax solutions will be waived off. Additionally, through its partnership with FundEnable, the bank will organise capacity-building activities, including a knowledge series and bootcamps on fundraising, market strategies, and pitch enhancement. The bank has also partnered with India Accelerator, a fund-led startup accelerator from Gurgaon to curate special offers on co-working spaces and accelerator programs for women entrepreneurs.

Trends in digital payments:

UPI has played a pivotal role in digitising India’s financial transactions. According to the Reserve Bank of India, the share of UPI in digital payments reached close to 80% in fiscal 2024. UPI leads in the payment of business expenses, followed by mobile banking.

Pushan Sharma, Director-Research, CRISIL Market Intelligence & Analytics, said, “73% of self-employed women surveyed preferred receiving payments from customers digitally, and 87% used digital methods to pay their business expenses. UPI is the most-used mode for both receiving (35%) and paying (26%) business expenses. However, cash remains indispensable for payroll and operational expenses, used by 36% of respondents.”

Adopting sustainable business practices: 

The insights underscore a growing trend toward sustainability. 52% of self-employed women in Indian metros have implemented sustainability policies in their businesses, while 14% have approached a bank for sustainability-linked finance. Encouragingly, 76% have implemented sustainable business practices, such as energy conservation, incorporating female representation on their boards, and waste reduction and recycling measures. 26% of respondents prioritise energy conservation efforts, while 24% focus on waste reduction and recycling. Additionally, 26% of self-employed women have female members serving on their boards, reflecting their commitment to gender diversity and inclusion. 13% have adopted practices related to water conservation and rainwater harvesting.

DBS Bank India aims to support holistic financial management for women, guided by insights from the Women and Finance study. This underscores how DBS embodies being a different kind of bank, enabling customers to ‘Live More, Bank Less’ in line with its brand promise.  The first report released in January 2024 focused on savings, investment patterns, and behaviors among salaried and self-employed women in urban India. The second report, launched in March 2024, explored career progression, workplace policy preferences, and challenges faced by women in the workforce.

The post 65% of self-employed women in urban Indian metros have not taken a business loan: Survey by CRISIL and DBS Bank India  appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Mumbai, 15 March 2023: InCred Financial Services Limited (InCred Finance) – one of India’s leading diversified NBFCs, that turned Unicorn last year, has another reason to celebrate!

CRISIL has upgraded the long-term rating for InCred Finance to ‘CRISIL AA-/Stable’ from the earlier rating, which was ‘CRISIL A+/Stable’.  The upgrade in ratings reflects strong capitalization of the company supported by high pedigree of investor base, coupled with steady improvement in earnings profile.  The ratings also factor in InCred’s experienced leadership team and diversified loan portfolio.

InCred Finance’s capitalization remains strong as reflected in its net-worth of Rs. 3,218 Cr. as on December 31, 2023, vis-à-vis Rs. 2,484 Cr as on March 31, 2023.  The increase in net-worth was supported by the Rs. 500 Cr. equity capital raised by the company in December 2023 along with profit accretion during the period.

The upgrade comes on the back of significant growth reported by the firm, underpinned by a big jump in profitability with 9M 2024 PBT of Rs. 298 Cr up 132% (YoY Dec’23).  InCred Finance’s Loan book grew to Rs. 8,013 Cr as on December 31, 2023, marking an annualized growth of 43% over that as on March 31, 2023 (Rs. 6,062 Cr).

InCred Finance has built deep moats around its businesses through best in class underwriting and risk analytics engines, a robust and scalable tech delivery platform, and an extensive on-ground customer support and collections infrastructure.

The company continues to see a rapid month-on-month growth trajectory and steady credit costs. The Cost-to-Income ratio for the company also saw a healthy decline from 56% to 44%.

Bhupinder Singh, Founder & Group CEO, InCred said, “The rating upgrade is a huge endorsement of our “risk first” ethos across the firm. Innovation in product and technology, coupled with class leading risk analytics, and a talent pool that is second to none, have been instrumental in shaping our growth story and giving us a clear edge. It makes me immensely proud that in a rapidly evolving and competitive market like India, InCred Finance has established a strong position in Consumer and MSME lending.”

The post CRISIL upgrades long-term rating of InCred Finance to ‘CRISIL AA-/Stable’ from earlier ‘CRISIL A+/Stable’ appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.