ICRA

Its outlooks cover FMCG, fashion retail, consumer durables, quick-service restaurants, cement, pharma, tractors, aviation and oil marketing companies.[1] source: Business Standard[2] source: Business Standard[3] source: Business Standard[4] source: ET Small Business[5] source: ET Small Business[6] source: Financial Express Business Standard, Financial Express and ET Small Business have carried its forecasts.[1] source: Business Standard[5] source: ET Small Business[6] source: Financial Express

Business Standard reported in October 2026 that ICRA expects demand to moderate in H2 FY2027 across FMCG, two-wheelers, fashion retail, consumer durables and quick-service restaurants. It expects retail inflation to average 5.0 per cent in FY2027.[1] source: Business Standard In September 2026, ICRA estimated that Indian oil marketing companies were losing Rs 530 crore a day, with the Indian crude basket at USD 117.4 per barrel on September 21, 2026.[5] source: ET Small Business It forecast tractor wholesale growth of 1-4% in FY2027, down from 23.5% in FY2026.[6] source: Financial Express It also forecast cement operating profit rising 12–18 per cent to Rs 900–950 per metric tonne in FY26.[2] source: Business Standard On aviation, ICRA warned that a prolonged West Asia conflict could pressure traffic growth, airline yields and profitability.[4] source: ET Small Business

Its pharma outlook is cited as 9-11% FY2026 revenue growth, in an article that names Sun Pharma and Dr. Reddy’s Laboratories.[3] source: Business Standard Its cement coverage lists UltraTech Cement, ACC, Ambuja Cements, JK Cements, JK Lakshmi Cement and The Ramco Cements.[2] source: Business Standard