News Broadcasting
ICRA rerates Network18 and TV18
MUMBAI: Barely a week after independent and professional investment and credit rating agency ICRA revised ratings for Network 18 media and investments (N18) and TV 18 Broadcast (TV18), it has once again upgraded the two companies ratings for enhanced amounts.
Note: Short Term Instruments (All instruments with original maturity within one year) with ICRA A1 rating are considered to have very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk. Modifiers {“+” (plus) / “-“(minus)} can be used with the rating symbols for the categories [ICRA]AA(SO) to [ICRA]C(SO). The modifiers reflect the comparative standing within the category.
N18
The short- term rating for Rs 230 crore of ICRA A1+ and long-term rating for Rs 10 crore of ICRA A on enhanced banking facilities of Rs 240 crore (up from Rs 140 crore) has been assigned to N18. The outlook on the long-term rating is ‘positive’.
Additionally, N18’s commercial paper of Rs 100 crore has been assigned as ICRA A1+. The assigned ratings take into account the strong growth in operating profits of N18 (consolidated) in 2013-14 over the previous year, significant reduction in net losses by virtue of favourable impact of cable digitisation, internal cost compression measures and more than halving of interest costs.
The rating agency says “ICRA draws comfort from the diversified offerings of the broadcasting business across genres and expects that the addition of ETV regional channels, post the recent acquisition, will further strengthen the overall operational profile of the company on a consolidated basis. ICRA notes that the Network18’s non-broadcasting businesses continue to experience weak profitability/ losses while some of its existing bouquet of channels may also continue to face profitability pressures arising from rising competitive intensity. Also, in the broadcasting business, there is likely to be recurring need to fund gestation losses in select new channels as also additional investments that may have to be put in for the ETV bouquet of channels.”
TV18
The Rs 200 crore commercial paper programme of TV18 Broadcast has been assigned short-term rating of ICRA A1+.
The assigned ratings take into account the strong growth in operating profits of TV18 (consolidated) in 2013-14 over the previous year, increase in net profits to Rs 85.6 crore in 2013-14 from a net loss of Rs 42.2 crore in 2012-13 by virtue of favourable impact of cable digitisation, internal cost compression measures and more than halving of interest costs. The ratings continue to draw support from the diversified offerings of the company’s content bouquet across genres and strong market position of the key news and entertainment channels.
Says the rating agency, “ICRA expects that the recent addition of ETVs regional channels into TV18’s content bouquet will further strengthen the overall operational profile of the company. TV18 (consolidated) currently derives a large proportion of its revenues through advertisement income, a revenue stream that tends to be volatile and is a function of economic environment and corporate advertisement budgets. However, the enactment of regulatory framework for digitisation of cable TV Systems in India is expected to increase the quantum and proportion of the relatively more stable subscription income for TV18, going forward. Already, TV18 (consolidated) has seen a strong positive traction in net distribution income having increased to Rs 178 crore in 2013-14 (excluding ETV channels) from minus (-) Rs 102 crore in 2011-12.”
It also states that while TV18’s (consolidated) cash generation is likely to be supported by higher subscription revenues and lower carriage costs by virtue of cable digitisation, it expects continued profitability pressures arising from rising competitive intensity in key business segments, the need to fund gestation losses in select new channels as also additional investments that may have to be put in for the ETV bouquet of channels.
News Broadcasting
Induction cooktop demand spikes 30× amid LPG supply concerns
Supply worries linked to West Asia tensions push households and restaurants to turn to electric cooking alternatives
MUMBAI: As geopolitical tensions in West Asia ripple through global energy supply chains, the familiar blue flame in Indian kitchens is facing an unexpected challenger: electricity.
What began as concerns over the availability of liquefied petroleum gas (LPG) has quickly evolved into a technology-driven shift in cooking habits. Households across India are increasingly turning to induction cooktops and other electric appliances, initially as a backup but now, for many, a necessity.
A sudden surge in demand
Recent data from quick-commerce and grocery platform BigBasket highlights the scale of the shift. According to Seshu Kumar Tirumala, the company’s chief buying and merchandising officer, demand for induction cooktops has risen dramatically.
“Induction cooktops have seen a significant surge in demand, recording a fivefold jump on 10 March and a thirtyfold spike on 11 March,” Tirumala said.
The increase stands out sharply when compared with broader kitchen appliance trends. Most appliance categories are growing within 10 per cent of their typical demand levels, while induction cooktops have witnessed explosive growth as households rush to secure an alternative cooking option.
Major e-commerce platforms including Amazon and Flipkart have reported rising searches and orders for induction stoves. Quick-commerce apps such as Blinkit and Zepto have also witnessed stock shortages in major metropolitan areas including Delhi, Mumbai and Bengaluru.
What was once considered a convenient appliance for hostels, small kitchens or occasional use has suddenly become an essential addition in many homes.
A crisis thousands of miles away
The trigger for this shift lies far beyond India’s kitchens.
Escalating conflict in the Middle East has disrupted shipping routes through the Strait of Hormuz, one of the world’s most critical energy corridors. Nearly 85 to 90 per cent of India’s LPG imports pass through this narrow waterway, making the country particularly vulnerable to supply disruptions.
The ripple effects have been swift.
India currently meets roughly 60 per cent of its LPG demand through imports, and tightening global supply has already begun to affect domestic availability and prices.
Earlier this month, the price of domestic LPG cylinders increased by Rs 60, while commercial cylinders rose by more than Rs 114.
To discourage panic buying and hoarding, the government has also extended the mandatory waiting period between domestic refill bookings from 21 days to 25 days.
Restaurants feel the pressure
The strain is not limited to households. Restaurants, hotels and roadside eateries are also grappling with supply constraints as commercial LPG availability tightens under restrictions imposed through the Essential Commodities Act.
In cities such as Bengaluru and Chennai, restaurant associations report that commercial LPG availability has dropped by as much as 75 per cent, forcing many establishments to rethink their kitchen operations.
Some restaurants have reduced menu offerings, while others are rapidly installing high-efficiency induction systems, creating hybrid kitchens where electricity now shares the workload with gas.
For smaller eateries and roadside dhabas, the shift is less about sustainability and more about survival.
A potential structural shift
The government has maintained that there is no nationwide LPG crisis and has directed refineries to increase production to stabilise supply.
Nevertheless, the developments of March 2026 may already be triggering a longer-term behavioural shift.
For decades, LPG has been the backbone of cooking in Indian households. However, recent disruptions have highlighted the risks of relying on a single fuel source.
Increasingly, households appear to be hedging against uncertainty by adopting electric cooking options to guard against price volatility and delivery delays.
If the current trend continues, the induction cooktop, once viewed as a niche appliance, could emerge as a quiet symbol of India’s evolving kitchen economy.
