India Inc’s Q4 revenue growth likely to stay steady at 5-6%: Crisil, ET Manufacturing

In construction-linked sectors, revenue growth is seen limited to 1-2 per cent as cheaper steel imports throughout the yearresulted in lower prices on-year, the report noted.Corporates in India likely saw their revenue grow by 5-6 per cent in the January-March quarter of FY25, fuelled by good performance of the consumer-driven sectors, according to Crisil Intelligence report, based on analysis of over 400 companies.

The overall growth of revenue for the full fiscal year (FY25) is estimated at 5 per cent.

Pushan Sharma, Director at Crisil Intelligence, said: “The consumer discretionary products, services and staple services segment is expected to see 8-9 per cent on-year increase in revenue. The retail segment likely saw a robust 17 per cent growth, led by demand in the value fashion, and food and grocery segments, as well as an expansion of store networks. The automobile sector’s revenue likely grew ~6 per cent as retail momentum for passenger vehicles picked up and realisations rose owing to a change in the product mix and increasing share of exports.”

Growth across sectors

According to the report, in consumer staples, the fast-moving consumer goods (FMCG) segment is expected to see 4-6 per cent revenue growth led by price hikes amid subdued volume growth. While rural demand has been resilient, urban side has stayed subdued.

On the other hand, revenue of the agriculture sector, including fertilisers, likely grew 17-19 per cent, on the back of stable summer crop acreage and higher disposable incomes stemming from better yields and remuneration for kharif paddy.

In construction-linked sectors, revenue growth is seen limited to 1-2 per cent as cheaper steel imports throughout the year
resulted in lower prices on-year, the report noted.

On the other hand, the margins in IT services are estimated to have fallen 30-40 bps on-year owing to higher marketing and travel spends. The FMCG sector margin likely slipped 50-100 bps on increased cost of essential inputs such as palm oil, tea and dried coconut kernels, as per the report.

• Published On Apr 24, 2025 at 03:43 PM IST

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