Around 1.1 million medium and heavy commercial vehicles (M&HCVs), older than 15 years as of March 31 this year, offer a significant potential for scrappage, ratings agency ICRA said on Tuesday. While the actual scrappage could possibly be lower given the nature of usage of such vehicles, even if a proportion of these vehicles gets … Read more
The Indian IT services industry is likely to register a second consecutive year of muted revenue growth, estimated at 4-6% in FY2025, but the operating profit margin is expected to be healthy, according to ICRA. The persisting challenges and tepid topline growth notwithstanding, ICRA has forecast the industry’s operating profit margin (OPM) at a healthy … Read more
Domestic tyre sale volumes are expected to see a moderate growth of 4-6 per cent this fiscal after witnessing an estimated pace of 6-8 per cent in the previous financial year, ratings agency Icra said on Thursday. This growth in the last fiscal was driven by factors such as elevated base and subdued growth in … Read more
The domestic passenger vehicle (PV) market is estimated to grow by six to nine per cent in the current financial year over the preceding fiscal, according to ratings firm ICRA. In absolute terms, the PV industry will clock a sales figure of 4.2 million units in the current fiscal. The report said that dealer inventories … Read more
Annual revenue growth of leading auto component manufacturing companies will come down to 5-7 per cent in the next fiscal due to moderation in domestic volumes and a drop in exports, rating firm Icra said on Tuesday. According to Icra estimates, its sample of 45 auto ancillaries, with aggregate annual revenues of Rs 2.7 lakh … Read more
