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ICRA Research is based on our analysts' insights, gained from rating corporates and financial sector entities. The research reports are tailored to meet the requirements of banks, mutual funds, insurance companies, PEs or venture funds and corporates.

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Special Comments

Date	Reports	Category	Price
11 Nov 2025	SGS cut-off dips by 12 bps to 7.24% amid decline in tenor and continued lower-than-indicated issuance	Thematic Report
10 Nov 2025	Premium hotel inventory addition to continue to lag demand growth, supporting pricing power of hoteliers	Thematic Report
10 Nov 2025	A Primer on the Global and Indian EV Industry	Primer	--
07 Nov 2025	PLI and DLI schemes: Schemes meeting objectives, yet timelines at risk of being missed as manufacturing progress varies by domestic capabilities and ecosystem	Thematic Report
06 Nov 2025	Consolidation of players likely in solar module manufacturing industry; vertically integrated entities expected to benefit in long run	Thematic Report
04 Nov 2025	SGS cut-off rose by 3 bps to 7.36% amid increase in share of longer-tenor issuances	Thematic Report
03 Nov 2025	Investment activity eased in Q2 FY2026; execution may improve in H2, while post-festive demand, GoI capex and trade outcomes are key monitorables	Thematic Report
31 Oct 2025	Cement volumes up by 8% YoY in H1 FY2026	Monthly Update	--
31 Oct 2025	India achieves blending ratio of 19% till September-end for the ongoing ESY2025; healthy offers received for ESY2026	Monthly Update	--
31 Oct 2025	Key financial and operational statistics of Indian banking sector	Annual Update	--
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Credit Perspective Reports

Credit Perspective Reports (CPRs) offer detailed rating analyses of over 1,500 investment-grade entities, covering both listed and unlisted companies. These reports provide in-depth insights into key rating drivers, making them valuable for benchmarking, understanding credit trends, and making informed investment decisions.

What's latest in CPR

UNITED FOODBRANDS LIMITED (Erstwhile Barbeque Nation Hospitality Limited)
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Rating Rationales

Name	Email	Phone
14 Nov 2025	Power Grid Corporation of India Limited: Withdrawn for Redeemed amount and Change in Limits for BLR
14 Nov 2025	Price Waterhouse & Co LLP: Ratings reaffirmed; rated amount enhanced
14 Nov 2025	Price Waterhouse & Co Chartered Accountants LLP: Ratings reaffirmed
14 Nov 2025	Price Waterhouse Chartered Accountants LLP: Ratings reaffirmed
14 Nov 2025	Umesh & Brothers Construction: Ratings Withdrawn
14 Nov 2025	PricewaterhouseCoopers Professional Services LLP: Ratings reaffirmed
14 Nov 2025	PricewaterhouseCoopers Services LLP: Ratings reaffirmed; rated amount enhanced
14 Nov 2025	PricewaterhouseCoopers Private Limited: Ratings reaffirmed
14 Nov 2025	Sri Vijaya Lakshmi Steel Traders: [ICRA]BB(Stable) assigned
14 Nov 2025	Deutsche Investments India Private Limited: Rating reaffirmed; rated amount enhanced

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