Output of core industries declined by 23.4% in May

by Yash Shah

The index of eight core industries declined by 23.4 per cent on a y-o-y basis in May 2020. This is the second consecutive month of decline. The fall comes after 37 per cent decline recorded in April 2020. The impact of the lockdown introduced to fight COVID-19 was felt across seven industries in May 2020, compared to decline in output of all eight core industries in April 2020. During May 2020, the index of core industries stood at 105.0. The index had fallen below 100 during April.

After declining for two months in a row, production of fertilisers grew by 7.5 per cent in May. All other core industries recorded a y-o-y fall in output. Except for crude oil, the extent of contraction narrowed for coal, natural gas, refinery products, steel, cement and electricity.

Coal output declined by 14 per cent in May. Output of steel and cement industries fell by more than 20 per cent during the month. Generation of electricity declined by 15.6 per cent.

Output of eight core industries for the cumulative period of April 2020-May 2020 fell by 30 per cent compared to 4.5 per cent growth recorded during the corresponding period in the previous year.

Index of Eight Core Industries (Y-o-Y % Change)
  May 2020 Apr - May 2020
Overall Index -23.4 -30.0
 Coal -14.1 -14.7
 Crude oil -7.0 -6.7
 Natural gas -16.7 -18.3
 Refinery products -21.2 -22.7
 Fertilisers 7.5 2.0
 Steel -48.5 -63.3
 Cement -22.2 -54.1
 Electricity -15.6 -19.1

References
1. https://pib.gov.in/PressReleseDetail.aspx?PRID=1635355
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