Sectoral Research
We analyse millions of data points using a large network of primary data sources to provide our clients with long-term and short-term future outlook on 90 core sectors in India including automobiles, consumer products, construction and capital goods, infrastructure, metals, and others. We also provide an in-depth analysis of the factors that affect the performance and profitability of these sectors.
Our sectoral research covers the following areas:
- Outlook: demand-supply, prices, and an update on the industry’s performance among other parameters
- Researched information: actionable insights on everything from capacities and exports to industry structure, technology, regulations, and player profiles
- Premium tools and analysis (Research+): Our tools include ratings information, credit analysis, and financials for 1,100 listed entities
Our analysis and views are delivered nearly real-time through a web based platform, that allows our clients to understand regional dynamics of industries, apply multiple scenarios to help in credit evaluation, get access to emerging trends in niche industries, interact with sectoral experts, among others.
Based on market feedback and emerging trends, we provide special reports on Indian economy including SME, NBFC, agriculture and emerging sectors. These reports cover our views on the growth prospects, competitive scenario & attractiveness of these segments.
Features of our research delivery platform
- What if analysers - for sensitivity analysis by creating multiple scenarios of an industry, thus helping better credit evaluation
- Video clipping of industry experts - 2-3 minute video clippings of our experts covering topical issues on the industry and demand drivers for quick understanding of impact of changes
- Analyst presentation - for quick reference, an entire report is condensed into a few slides
- Discovery - interactive tool for understanding regional dynamics of industries
- Thematic reports - analysis of new areas/concepts/trends across industries and coverage on niche industries
- Ask the Analyst - interact with our sectoral experts for any analytical queries, clarifications, or additional data requirements
Special segments we deep-dive into
SME Report
Do you know:
- What will be the impact of Ayushman Bharat Yojana on small and medium hospitals?
- Which pharma cluster has become a more attractive investment destination, post implementation of GST?
- What is the additional source of income that North Indian sugar millers are exploring to turnaround their operations?
- How the ban on plastics will affect the MSME packaging industry?
- To what extent will economic slowdown hit transporters?
- Which light engineering clusters will be less impacted by the current automobile slowdown?
At Rs 17 trillion, lending to the micro, small and medium enterprises (MSMEs) industry accounted for around 25% of corporate lending in India as of fiscal 2019. The segment continues to offer attractive business opportunities for financiers, especially with the Goods and Services Tax (GST) regime in place. The challenge lies in spotting the sectors and clusters that are likely to offer the desired risk-adjusted returns. This entails tracking the performance and risk exposure of sectors and clusters on a timely basis.
Benefits of the report:
- Enables prudent lending
- Identifies right geographies
- Enhances risk monitoring
- Offers macro micro risk perspective, from sector to company level data
- Insights on future trends
- Tools & databases for prospecting
CRISIL's SME Report addresses this by providing
- Insights and outlook on business and financial prospects across sectors and clusters
- Industry and cluster attractiveness matrices for differentiating risk and opportunity
- Coverage across manufacturing, services and trading
- Business and financial tools for benchmarking across clusters and sectors
- Database of 19,000 SMEs, with key financial ratios for ~4,500 entities
- A six-month monitoring mechanism for SME sectors and clusters
- Views on asset quality sector-wise and cluster-wise
NBFC Report
Our latest report delves deep into all this and more, assessing each segment and offering insights on the road ahead.
The Covid-19 pandemic has exacerbated the woes of non-banking financial companies (NBFCs). The decline in non-bank credit growth, which started in the second half of fiscal 2019, continued through fiscal 2020, accentuated first by economic slowdown and then - more vigorously - by the pandemic.
While the impact of economic slowdown was expected to be gradual, providing time to build some kind of defence, the impact of the pandemic has been immediate and debilitating.
The ramifications are being felt across the sector, though some segments have been impacted more severely than others.
The Reserve Bank of India (RBI) has allowed lenders to extend moratorium on loans up to August 31, temporarily mitigating the hardship of borrowers. However, in the absence of any such moratorium on non-banks' capital market borrowings, ensuring adequate liquidity to meet repayments coming up in the near term has become the primary challenge for most non-banks.
Another challenge is to ensure asset quality remains under control, through steps such as maintaining close contact with borrowers and supporting them through this unprecedented crisis.
It is clear that NBFCs will need to recalibrate their strategies in order to deal with changing business scenario post pandemic.
Several questions emerge in the context. How would credit growth of the sector be impacted? When will the liquidity situation improve? Will the measures taken by the government and RBI improve non-banks’ access to funds? Can NBFCs achieve pre-2018 growth in the medium term, or will growth remain anaemic? Will the earnings growth trajectory be lower? How much capital will they need over the next 1-2 years? What will separate the winners from the losers? Where are the opportunities for growth?
Our latest report delves deep into all this and more, assessing each segment and offering insights on the road ahead.
The coverage includes:
- Overall and segment-wise impact of the pandemic on NBFCs covering high risk segments
- Detailed assessment of competitive scenario with banks and market share of NBFCs across segments
- Impact of the initiatives and measures taken by the government and the Reserve Bank of India
- Asset Quality: Restructuring measures, moratoriums and impact assessment across segments
- Financial and operational benchmarks in various segments
- Hues and Colors of NBFC funding and Liquidity
- Advancements in digital platforms for lending
- Coverage on evolving niche segments like personal loans
- Profiles of over 200+ NBFCs, detailing key operational and financial parameters
- Three quarterly updates
| Product segments covered | |
|---|---|
| Housing finance | Low-cost housing finance |
| Infrastructure finance | MSME finance - secured (including LAP) and unsecured |
| Auto finance | Wholesale finance |
| Microfinance | Gold loans |
| Consumer durables finance | Construction equipment finance |
| Education loans | Personal loans |
Coverage
| Overview | For each of the segments covered |
|---|---|
| Outlook on yields and spreads in fiscals 2019 and 2020 |
Overall growth in the industry |
| Trend in short-term (commercial papers) and long-term issuances (non-convertible debentures) |
Market share of NBFCs vs banks |
| Relative attractiveness of NBFC segments based on growth and profitability outlooks |
Growth outlook for NBFCs |
| Competitive positioning of NBFCs across key segments |
Profitability of NBFCs: Review & outlook |
| Outlook on asset quality in the NBFC industry |
Asset quality: Review & outlook |
| View on the borrowing mix of NBFCs |
Key growth drivers and challenges |
| Impact of major regulations on the industry |
For more details, please click here.
Agriculture Report
Rural India is expected to stand tall as the Covid-19 pandemic ravages the economy this fiscal - thanks largely to agriculture, which is expected to do well given the IMD's prediction of another normal-monsoon year.
CRISIL's Agriculture Report delves into the performance of rural India at a state and sub-region level. Starting this year, in addition to field crops and agriculture inputs, we are offering coverage on horticulture crops.
This enables us to offer a holistic view on farmer incomes in upcoming cropping seasons.
Key offerings
- Outlook on state- and crop-wise profitability in field crops
- Outlook on state- and crop-wise profitability in key horticulture crops
- Sub-regional profitability assessment
- Monthly dashboard providing updates on sowing, reservoir level, status of government regulations, performance of agriculture input segments, mandi arrivals and prices, etc.
Other aspects covered
- Sectoral coverage on agriculture industries
- Agricultural lending: State-wise opportunity and risk evaluation (top 15 states)
- Role of non-banking finance companies and microfinance units in agriculture financing
- Agricultural insurance market: Structure and coverage
- Financial and operational benchmarking of ~250 companies (revenue above Rs 50 crore)
- Tools to rank states and crops on expected profitability in 2018
- Over 1,200 data tables across key inputs covering state- and district-level assessment
- Continuous update on key data points such as rainfall, net sown area and mandi prices