GSDP of all states to contract in 2020-21: Ind-Ra

Contraction to be in range of 1.4%-14.3%

by Nidhi Bhati

India Ratings and Research (Ind-Ra) expects all states to witness a steep decline in their gross state domestic product (GSDP) for 2020-21 due to the impact of Covid-19 induced lockdown on economic activities. The contraction will be in the range of 1.4 per cent to 14.3 per cent. Ind-Ra further observed that since agricultural activities were less impacted, the states having a higher share of agriculture are expected to have suffered less compared to the one where the share of agriculture is low. Gujarat, Assam, Goa and Sikkim are likely to see double-digit contraction in GSDP. Among the major states, those likely to be most impacted over the fiscal were Karnataka, Jharkhand, Tamil Nadu, Kerala and Odisha, whereas the least affected would be Madhya Pradesh, Punjab, Bihar, Andhra Pradesh and Uttar Pradesh.

References
1. https://www.thehindubusinessline.com/economy/gujarat-3-other-states-estimated-to-register-double-digit-contraction-in-gsdp-ind-ra/article31944287.ece
2. https://economictimes.indiatimes.com/news/economy/indicators/state-gross-domestic-products-to-see-sharp-declines-this-fiscal/articleshow/76688108.cms
CMIE STATISTICS
Unemployment Rate
Per cent
9.1 -0.0
Consumer Sentiments Index
Base September-December 2015
42.7 0.0
Consumer Expectations Index
Base September-December 2015
44.9 +0.7
Current Economic Conditions Index
Base September-December 2015
39.4 -1.1
Quarterly CapEx Aggregates
(Rs.trillion) Sep 19 Dec 19 Mar 20 Jun 20
New projects 3.12 5.15 3.39 0.57
Completed projects 0.85 1.65 1.70 0.17
Stalled projects 0.41 0.61 0.77 0.11
Revived projects 0.43 0.83 0.42 0.53
Implementation stalled projects 0.90 0.15 9.30 0.07
Updated on: 10 Jul 2020 3:28PM
Quarterly Financials of Listed Companies
(% change) Jun 19 Sep 19 Dec 19 Mar 20
All listed Companies
 Income 4.6 -2.3 -1.7 -4.0
 Expenses 2.7 -3.1 -2.2 -0.9
 Net profit 17.5 -1.3 -11.1 -44.3
 PAT margin (%) 6.2 5.3 5.1 3.0
 Count of Cos. 4,486 4,445 4,407 2,657
Non-financial Companies
 Income 2.4 -6.3 -5.5 -8.2
 Expenses 1.6 -6.7 -6.4 -4.1
 Net profit -7.5 -13.5 -14.1 -46.0
 PAT margin (%) 6.3 5.8 5.7 4.2
 Net fixed assets 10.4 13.8
 Current assets 5.0 2.8
 Current liabilities 5.0 3.8
 Borrowings 8.4 14.9
 Reserves & surplus 6.0 4.3
 Count of Cos. 3,361 3,335 3,301 2,050
Numbers are net of P&E
Updated on: 10 Jul 2020 3:28PM
Annual Financials of All Companies
(% change) FY18 FY19 FY20
All Companies
 Income 8.3 13.2 4.3
 Expenses 9.8 13.4 2.8
 Net profit -39.9 20.7 15.0
 PAT margin (%) 2.0 2.4 10.3
 Assets 10.9 9.2 11.8
 Net worth 7.5 8.5 6.5
 RONW (%) 3.5 4.4 11.7
 Count of Cos. 26,220 24,732 364
Non-financial Companies
 Income 8.5 13.6 0.1
 Expenses 8.6 13.8 -1.2
 Net profit -8.7 23.5 4.6
 PAT margin (%) 2.8 3.2 12.7
 Net fixed assets 7.1 4.9 30.4
 Net worth 6.1 8.4 3.6
 RONW (%) 5.7 7.0 15.3
 Debt / Equity (times) 1.0 0.9 0.5
 Interest cover (times) 2.1 2.4 6.3
 Net working capital cycle (days) 77 69 -13
 Count of Cos. 21,415 20,146 258
Numbers are net of P&E
Updated on: 09 Jul 2020 7:12PM