Second Covid-19 wave to dampen recovery of corporate sector: ICRA

by Nidhi Bhati

Rating agency ICRA has cautioned that the continuing resurgence in Covid-19 cases, along with proliferation of localised restrictions, could dampen the pace of recovery for the Indian corporate sector. The rating agency expects six sectors, namely aviation, hotels, restaurants & tourism, media & entertainment-exhibitors, microfinance institutions, real estate-retail and retail, to be at high risk from the second pandemic wave, but much lower than in 2020. It further stated that the percentage of ICRA-rated portfolios that would be severely impacted by the second wave will be limited to four per cent much lower than the 17 per cent seen last year.

References
1. https://www.thehindubusinessline.com/economy/resurgence-in-covid-19-to-dampen-pace-of-recovery-for-india-inc-icra/article34431147.ece
CMIE STATISTICS
Unemployment Rate (30-DAY MVG. AVG.)
Per cent
7.7 -0.4
Consumer Sentiments Index
Base September-December 2015
54.8 -1.0
Consumer Expectations Index
Base September-December 2015
56.6 -0.5
Current Economic Conditions Index
Base September-December 2015
52.0 -1.7
Quarterly CapEx Aggregates
(Rs.trillion) Jun 20 Sep 20 Dec 20 Mar 21
New projects 0.96 1.41 1.16 1.52
Completed projects 0.28 0.73 0.83 0.88
Stalled projects 0.11 0.08 0.31 0.14
Revived projects 0.68 0.29 0.11 0.14
Implementation stalled projects 0.09 0.07 0.15 0.30
Updated on: 06 May 2021 9:28AM
Quarterly Financials of Listed Companies
(% change) Jun 20 Sep 20 Dec 20 Mar 21
All listed Companies
 Income -27.7 -6.3 1.6 11.7
 Expenses -27.9 -10.3 0.1 6.6
 Net profit -40.5 47.2 57.7 53.3
 PAT margin (%) 5.2 8.3 8.5 13.3
 Count of Cos. 4,401 4,402 4,376 274
Non-financial Companies
 Income -37.4 -10.5 0.2 16.2
 Expenses -37.7 -14.2 -0.7 12.8
 Net profit -56.0 31.5 54.3 34.1
 PAT margin (%) 4.5 8.1 8.9 13.4
 Net fixed assets 5.9 9.2
 Current assets 0.7 11.1
 Current liabilities -2.7 -15.8
 Borrowings 8.3 -11.0
 Reserves & surplus 4.2 21.4
 Count of Cos. 3,267 3,267 3,253 200
Numbers are net of P&E
Updated on: 06 May 2021 9:28AM
Annual Financials of All Companies
(% change) FY19 FY20 FY21
All Companies
 Income 13.4 0.0 -6.4
 Expenses 13.8 0.0 -7.3
 Net profit 15.2 -10.4 0.9
 PAT margin (%) 2.1 2.1 10.0
 Assets 9.8 8.1 0.7
 Net worth 8.4 4.4 -0.1
 RONW (%) 3.8 3.5 11.7
 Count of Cos. 30,871 29,514 44
Non-financial Companies
 Income 14.1 -1.9 -6.7
 Expenses 14.3 -1.6 -7.8
 Net profit 21.7 -20.6 1.3
 PAT margin (%) 2.9 2.4 10.6
 Net fixed assets 5.6 9.4 -0.2
 Net worth 8.0 2.1 -0.2
 RONW (%) 6.4 5.0 13.2
 Debt / Equity (times) 1.0 1.1 0.1
 Interest cover (times) 2.3 2.0 21.9
 Net working capital cycle (days) 73 80 37
 Count of Cos. 24,702 23,523 36
Numbers are net of P&E
Updated on: 04 May 2021 1:37PM