Auto, Ancillary Growth to Slow in FY25: Nomura

22 Feb 2025 CW Team

Automobile and auto ancillary sectors are expected to see slower revenue growth in FY25, according to a research note from Nomura. Passenger vehicle (PV) sales, the largest contributor to the sector, are projected to grow by just 1.5% to 4.28 million units, compared to an 8.4% growth last year when 4.21 million units were sold.

Commercial vehicle sales are forecasted to remain flat at 968 units, following a 0.6% rise the previous year. Two-wheeler sales are expected to grow by 10% to 20,301 units, while three-wheeler sales are also projected to rise by 10%, a sharp slowdown from the 41.5% growth seen last year. Except for tractors, all segments are likely to experience modest growth over the next two fiscal years.

Nomura’s report highlights the continued trend of premiumisation, with SUV sales remaining stable, while mass affordable segments struggle to gain momentum. In the electric vehicle (EV) space, Indian two-wheeler companies sold an average of 94,000 units per month recently, with Ola Electric maintaining about a third of the market share.

The slowdown in the auto sector is also mirrored in the auto ancillary industry. Credit rating agency ICRA projects revenue growth for large auto ancillary firms to moderate to 7-9%, reaching around Rs 3.4 billion in FY25, down from 14% growth in the previous year.

(The Hindu)

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..