Banks (Finance)
As the Reserve Bank of India (RBI) prepares to announce in-principle licenses for small business banks, the Indian banking sector is poised for a significant transformation. With eleven payments banks, four foreign banks seeking local incorporation, and many more expected to follow suit, the industry is bracing for a new
Banks (Finance)
Minda Industries Limited (MIL), the flagship company of the N.K. Minda Group, has seen significant growth in its consolidated revenues across key product segments. The company's profitability has improved, with a growth of 49% in Profit before Depreciation, Interest and Tax (PBIT) and 96.2% in Profit
Banks (Finance)
Metro Hospital and Cancer Research Centre, a multispecialty hospital in Jabalpur, Madhya Pradesh, has been assigned a long-term rating of ICRA BB+ (Stable) by ICRA. The rating factors in the hospital's long track record in the healthcare industry, tie-ups with governmental and non-governmental organizations, and high occupancies in
Banks (Finance)
ICRA has reaffirmed the [ICRA]BB (pronounced ICRA double B) rating to Rs. 32.5 crore* (enhanced from Rs. 25.0 crore) Cash Credit facility of Polaris Liquor Private Limited (PLPL) with a stable outlook. The rating reaffirmation takes into account the company's long-standing experience in the liquor
Banks (Finance)
Gowra Petrochem Pvt. Ltd. (GPPL) has been a Del Credere Agent (DCA) for Reliance Industries Limited (RIL) since 1996, distributing polymer products in Andhra Pradesh. Despite a 15% reduction in volume off-take in FY2015 due to discontinued business with Finolex and lower off-take of Reliance PVC resins, GPPL's
Banks (Finance)
Ever Electronics Private Limited's long-term rating has been reaffirmed at [ICRA]B (pronounced ICRA B) by ICRA, a leading credit rating agency. The company's cash credit facility of Rs. 3.00 crore and non-fund-based bank guarantee facility of Rs. 4.75 crore have also been reaffirmed
Banks (Finance)
C-Edge Technologies Limited (CTL) has benefitted from its joint venture with Tata Consultancy Services (TCS) and State Bank of India (SBI), leading to a strong financial profile and robust capital structure. Although the company faces challenges in retaining talent and managing receivable days, its dominance in the Application Service Provider
Banks (Finance)
The Government Tele-communication Employees' Co-operative Society Limited, a multi-state employee credit cooperative society for BSNL and DoT employees, has seen its rating outlook revised from Stable to Negative by ICRA. The revision takes note of investments made by the society in land purchase and development activities, which have impacted
Banks (Finance)
Park Health Systems Private Limited's (PHSPL) 130-bed hospital in Somajiguda, Hyderabad faces challenges in maintaining profitability due to high competition and revenue concentration risk. The hospital has shown some improvement in occupancy levels, revenue growth, and patient footfall. However, its leveraged capital structure and weak liquidity position pose
Banks (Finance)
State Bank of Mysore, an associate bank of State Bank of India, has maintained a strong credit profile according to ICRA. The rating agency has reaffirmed the A1+ rating on the bank's certificate of deposit programme, citing its strong parentage, operational and management synergies with State Bank of
Banks (Finance)
ICRA has withdrawn the long-term and short-term ratings for Supreme Polymers Private Limited, citing the expiration of the three-year notice period since the ratings were suspended in July 2015. The long-term rating of BB and short-term rating of A4 have been withdrawn for the Rs. 17.00 crore bank facilities
Banks (Finance)
Zodiac Clothing Company Limited (ZCCL) has received a reaffirmation of its ratings from ICRA, with the agency assigning its highest rating, ICRA A1+, to the company's short-term fund-based and non-fund-based facilities, as well as its commercial paper program. This decision is based on the company's strong
