Indian Companies Likely to Clock 9% Revenue Growth in FY27: Fitch Ratings

New Delhi: Fitch Ratings has projected aggregate revenue of its rated Indian corporates to grow 9% in FY27, up from an estimated 5% in FY26, supported by stable credit fundamentals. The agency said the stronger revenue outlook is expected to help maintain stable credit metrics across Indian companies. However, it warned that a renewed escalation in tensions between the US and Iran could drive up crude oil prices, increasing fuel marketing losses and working capital requirements for oil refiners and marketers, thereby putting pressure on free cash flow.

Fitch also cautioned that chemical companies may face higher input costs, weaker demand and rising logistics expenses, while elevated inflation and weaker economic confidence could dampen discretionary consumer spending and corporate technology investments.