This article presents the survey findings of Industrial Outlook Survey conducted for January-March 2012 quarter, the 57th round in the series. It gives an assessment of business situation of companies in manufacturing sector, for the quarter January-March 2012, and their expectations for the ensuing quarter April-June 2012. The survey results showed an improvement in demand conditions in Indian manufacturing sector for January-March 2012; however, a slight moderation is expected for April-June 2012. In case of financial conditions, marginal improvement was observed for both the quarters under review. The Business Expectation Index, a measure that gives a single snapshot of the industrial outlook in each study quarter increased to 114.9 from 110.1 for the assessment quarter but declined to 116.8 from 117.2 for the expectation quarter; however, it remains well above 100, the threshold that separates contraction from expansion.
Highlights
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The demand conditions based on production, order books, capacity utilisation (CU), imports and exports showed some improvement in the assessment quarter as compared with the previous quarter, based on the Net Responses1. However, the net responses declined marginally for the expectation quarter. The survey indicated slight improvement in employment outlook. Majority of respondents reported maintaining an average level of Inventories (raw material and finished goods) in both the assessment and expectation quarters.
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Assessment of overall financial situation improved in the current quarter after a steady decline in the last four quarters. Net response on availability of finance followed a similar trend. The survey showed that the pressure from the cost of external finance and Cost of raw material was persistent. However, the percentage of respondents reporting further increase in costs declined to some extent. Similarly, net response on profit margin continued to be negative; even with some improvement in the percentage of respondents reporting increased profit margin during the assessment quarter.
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Industry-wise breakup shows that majority of industry groups have positive sentiments in demand conditions and financial conditions in the assessment quarter. However, in ‘Cement’ and ‘Fertilisers’ industries optimism level for demand conditions declined.
-
Size-wise breakup shows that higher optimism in demand conditions and financial conditions across all size groups.
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Introduction:
The Reserve Bank of India has been conducting the Industrial Outlook Survey (IOS) on a quarterly basis since 1998. The Survey gives insight into the perception of the public and private limited companies engaged in manufacturing activities about their own performance and prospects. The assessment of business sentiments for the current quarter and expectations for the ensuing quarter are based on qualitative responses on 20 major parameters covering overall business situation, financial situation, demand indicators, price, profit margins and employment situation. The survey provides useful forward-looking inputs for policymakers, analysts and business alike.
II. Data Coverage and Methodology
II.1 Sample Size
The sample covers a panel of about 2,000 public and private limited companies, mostly with paid-up capital above ` 5 million in the manufacturing sector. The fieldwork for the survey was carried out by an agency during mid-January to mid-March 2012. The panel of respondents is kept uniform to the extent possible with periodic updating in the case of addition of new companies or exclusion of closed/merged companies. The sample is chosen so as to get a good representation of size and industry.
II.2 Response to the Survey
The survey elicited response from 1234 (response rate around 61%) manufacturing companies.
II.3 Survey Schedule
The survey schedule consists of mainly qualitative questions containing five blocks and the target respondents are senior management personnel or finance heads of the companies.
III. Survey Findings
III.1 Demand condition
The survey collects perceptions of the Indian manufacturers about prominent demand-related parameters, namely, Production, Order Books, Capacity Utilisation, Inventory, Exports and Imports.
III.1.1 Production
The net response favouring higher production in assessment quarter improved for the second consecutive quarter after declining in the previous three quarters. However, it remained well below the peak observed in Q3:2010-11.The net response declined for the expectation quarter (Table 1 and Chart 1).
III.1.2 Order Books
The net response on order books, also showed a similar trend. (Table 2 and Chart 2).
III.1.3 Pending order
The pending order position was at normal or below normal for most of the companies in assessment quarter and is expected to remain there in the expectation quarter (Table 3 and Chart 3).
III.1.4 Capacity Utilisation (CU)
The survey collects views of manufacturing companies on changes in CU level (increase/decrease / no change) for the main product, level of CU compared with the average in the last four quarters (above normal/ below normal/ normal); and assessment of production capacity with regard to expected demand in the next six months (more than adequate/less than adequate/ adequate).
The net response for higher CU increased from 10.8 per cent to 16.7 per cent in assessment quarter but declined for expectation quarter consistent with sentiments on production and order books (Table 4 and Chart 4).
III.1.5 Inventory of Raw Materials & Finished Goods
Majority of the respondents (79 to 85 per cent) have reported to have maintained the average level of inventory of raw materials and inventory of finished goods in the assessment quarter as well as expectation quarter (Table 5). The inventory position is expected to remain broadly the same in the expectation quarter.
III.1.6 Exports and Imports
The survey signals a marginal improvement in the sentiments for higher exports and imports for both the assessment and expectation quarters.(Tables 6 & 7 and Charts 5 & 6).
III.1.7 Employment Situation
Nearly three-fourth of the respondents reported ‘no change’ in their labour force in the assessment quarter and in the expectation quarter. However, the net response favouring higher Employment increased marginally in both the assessment and expectation quarters (Table 8, Chart 7).
III.2 Financial Conditions
The survey assesses sentiments about financial conditions based on the parameters, viz., overall financial situation, working capital finance requirement (excluding internal sources of funds), and availability of finance (both internal and external sources), cost of external finance, cost of raw material, selling price and profit margin.
III.2.1 Overall Financial Situation
Overall financial situation showed an improvement in assessment and expectation quarters after successive declines in the last four quarters. The net response for better financial situation in the assessment quarter increased from 11.2 per cent to 18.5 per cent. The respondents also expected an improvement in overall financial situation in the ensuing quarter as the net response increased from 25.2 per cent to 27.7 per cent (Table 9, Chart 8).
III. 2.2 Working Capital Finance requirement and Availability of Finance
The sentiment for working capital finance requirement in the assessment quarter improved with net response increasing from 33.3 per cent to 34.9 per cent; however, a marginal moderation in net response is indicated for the expectation quarter (Table 10).
The survey showed that the level of optimism on ‘availability of finance’ improved in both the assessment and expectation quarters after declines in the last four quarters (Table 11, Chart 9).
III. 2.3 Cost of Finance
The perception about cost of finance remained negative for both the quarters under review. However, the percentage of respondents who experienced higher cost of finance over the previous quarter declined from 53.4 per cent to 41.1 per cent in assessment quarter. Correspondingly, share of respondents indicating ‘No change’ increased (Table 12). A similar sentiment is expressed for the expectation quarter.
III.2.4 Cost of Raw Material
Negative sentiment on cost of raw materials persisted for both the assessment and expectation quarters (Table 13, Chart 10). However, the percentage of respondents who experienced higher cost of raw material declined marginally in the assessment quarter and also in the expectation quarter.
III.2.5 Selling price
Majority of the respondents (63-66 per cent) did not report any change in selling prices during both the quarters under review. Still, marginally higher percentage of respondents assessed/anticipated an increase in selling prices in the assessment/expectation quarter (Table 14, and Chart 11).
III.2.6 Profit margin
The net response on profit margin continued to be negative but with some improvement in the percentage of respondents reporting increased profit margin during the assessment quarter (Table 15 and Chart 12).
III.3 Overall Business Situation
III.3.1 Overall Business Situation
The net response on overall business situation as perceived by the respondent companies, increased for assessment and expectation quarters after a continued decline in the last four quarters (Table 16, Chart 13).
III.3.2 Business Expectation Index (BEI)
The Business Expectation Index gives a single snapshot of the industrial outlook in each quarter. This index is computed as a weighted average of net responses from all the industries on nine select performance parameters where the weights are the industry’s share in Gross Value Added (GVA). The selected parameters are Overall Business Situation, Production, Order Books, Inventory of Raw Materials, Inventory of Finished Goods, Profit Margin, Employment, Exports and Capacity Utilisation. The methodology for compilation of the BEI is given in the article Quarterly Industrial Outlook Surveys: Trends since 2001 published in October 2009 Bulletin.
BEI increased from 110.3 to 114.9 for the assessment quarter even though it declined marginally from 117.2 to 116.8 for expectation quarter (Table17 Chart 14). A value of BEI above 100 can be considered as positive assessment/outlook on the business sentiment.
III.3.3 Industry-wise and Size-wise Analysis
Most of the industry groups reported improved demand conditions and financial conditions. However, in ‘Cement’ & ‘Fertilisers’ industries, optimism level for demand declined as compared with the previous quarter (Table 18).
Size-wise analysis shows that there was higher optimism level for demand conditions and financial conditions across all the size groups (Table 19).
III.3.4 Constraints for attaining the normal production level
About 50 per cent of companies reported Production Constraints for attaining the normal production level during the quarter January-March 2012. Major constraints reported are lack of domestic demand, shortage of power, shortage of working capital finance and shortage of raw material. Industry-wise break-up reveals that companies in four industry groups, viz, ‘Textiles’, ‘Transport equipments’, ‘Basic metals and metal products’ and ‘Food products’ felt more production constraints when compared with other industries. (Table 20).
Table 1: Assessment & Expectations for Production
|
(Percentage responses)# |
Survey Quarter |
Total response |
Assessment for Current Quarter |
Expectation for Next Quarter |
Increase |
Decrease |
No change |
Net response |
Increase |
Decrease |
No change |
Net response |
Jul-Sep 09 |
1180 |
40.9 |
18.3 |
40.8 |
22.6 |
38.5 |
16.1 |
45.5 |
22.4 |
Oct-Dec 09 |
1256 |
44.0 |
15.2 |
40.8 |
28.9 |
46.0 |
11.0 |
43.0 |
35.0 |
Jan-Mar 10 |
1079 |
49.0 |
12.5 |
38.5 |
36.5 |
48.8 |
8.8 |
42.3 |
40.0 |
Apr-Jun 10 |
1092 |
48.4 |
13.0 |
38.6 |
35.4 |
45.8 |
9.9 |
44.3 |
35.9 |
Jul-Sep 10 |
1403 |
51.6 |
11.6 |
36.8 |
40.0 |
49.7 |
9.4 |
40.9 |
40.2 |
Oct-Dec 10 |
1561 |
53.9 |
10.0 |
36.0 |
43.9 |
55.9 |
6.8 |
37.3 |
49.1 |
Jan-Mar 11 |
1524 |
52.1 |
10.7 |
37.1 |
41.4 |
55.4 |
6.8 |
37.7 |
48.6 |
Apr-Jun 11 |
1504 |
47.8 |
15.7 |
36.5 |
32.1 |
49.1 |
9.1 |
41.8 |
40.0 |
July-Sep 11 |
1528 |
40.8 |
18.3 |
40.9 |
22.6 |
49.6 |
9.0 |
41.5 |
40.6 |
Oct-Dec 11 |
1450 |
42.2 |
16.9 |
41.0 |
25.3 |
49.5 |
9.5 |
41.0 |
39.9 |
Jan-Mar 12 |
1234 |
45.6 |
12.5 |
41.9 |
33.1 |
49.8 |
9.5 |
40.7 |
40.4 |
Apr-June 12 |
|
|
|
|
|
45.4 |
10.6 |
44.0 |
34.7 |
| #Due to rounding off percentage may not add up to 100. This is applicable throughout the article. |
Table 2: Assessment & Expectations for Order books
|
(Percentage responses)# |
Survey Quarter |
Total response |
Assessment for Current Quarter |
Expectation for Next Quarter |
Increase |
Decrease |
No change |
Net response |
Increase |
Decrease |
No change |
Net response |
Jul-Sep 09 |
1180 |
38.2 |
17.7 |
44.1 |
20.5 |
35.5 |
18.7 |
45.8 |
16.8 |
Oct-Dec 09 |
1256 |
39.5 |
13.6 |
46.8 |
25.9 |
43.5 |
11.2 |
45.3 |
32.3 |
Jan-Mar 10 |
1079 |
43.5 |
11.6 |
44.9 |
31.9 |
44.8 |
9.1 |
46.1 |
35.8 |
Apr-Jun 10 |
1092 |
41.8 |
10.5 |
47.7 |
31.3 |
42.3 |
8.9 |
48.8 |
33.4 |
Jul-Sep 10 |
1403 |
45.4 |
9.3 |
45.3 |
36.1 |
44.4 |
8.1 |
47.5 |
36.3 |
Oct-Dec 10 |
1561 |
46.9 |
9.1 |
44.0 |
37.9 |
49.8 |
5.1 |
45.1 |
44.8 |
Jan-Mar 11 |
1524 |
44.8 |
10.1 |
45.2 |
34.7 |
49.6 |
5.6 |
44.8 |
44.0 |
Apr-Jun 11 |
1504 |
42.5 |
14.4 |
43.0 |
28.1 |
45.9 |
7.5 |
46.6 |
38.4 |
July-Sep 11 |
1528 |
37.9 |
17.6 |
44.5 |
20.3 |
45.4 |
9.4 |
45.2 |
35.9 |
Oct-Dec 11 |
1450 |
36.9 |
18.5 |
44.6 |
18.4 |
43.5 |
10.1 |
46.4 |
33.4 |
Jan-Mar 12 |
1234 |
38.9 |
14.1 |
47.0 |
24.8 |
42.3 |
11.0 |
46.7 |
31.3 |
Apr-Jun 12 |
|
|
|
|
|
39.3 |
9.8 |
50.9 |
29.5 |
| ‘Increase’ in order books is optimistic. |
Table 3: Assessment & Expectations for Pending Orders
|
(Percentage responses) # |
Survey Quarter |
Total response |
Assessment for Current Quarter |
Expectation for Next Quarter |
Below Normal |
Above Normal |
Normal |
Net response |
Below Normal |
Above Normal |
Normal |
Net response |
Jul-Sep 09 |
1180 |
21.1 |
3.7 |
75.2 |
17.4 |
22.9 |
3.8 |
73.4 |
19.1 |
Oct-Dec 09 |
1256 |
17.1 |
5.6 |
77.3 |
11.6 |
15.2 |
4.2 |
80.6 |
11.0 |
Jan-Mar 10 |
1079 |
15.5 |
6.7 |
77.8 |
8.8 |
12.2 |
6.5 |
81.3 |
5.7 |
Apr-Jun 10 |
1092 |
14.3 |
7.4 |
78.3 |
6.9 |
12.9 |
6.4 |
80.7 |
6.5 |
Jul-Sep 10 |
1403 |
12.0 |
6.9 |
81.1 |
5.1 |
11.4 |
7.3 |
81.3 |
4.2 |
Oct-Dec 10 |
1561 |
11.6 |
7.6 |
80.8 |
3.9 |
8.8 |
7.3 |
83.9 |
1.5 |
Jan-Mar 11 |
1524 |
12.5 |
6.9 |
80.6 |
5.5 |
9.8 |
8.1 |
82.1 |
1.7 |
Apr-Jun 11 |
1504 |
13.3 |
6.7 |
80.0 |
6.5 |
10.4 |
6.6 |
83.0 |
3.9 |
Jul-Sep 11 |
1528 |
18.0 |
4.7 |
77.3 |
13.3 |
11.8 |
7.2 |
81.0 |
4.5 |
Oct-Dec 11 |
1450 |
17.5 |
5.0 |
77.5 |
12.6 |
13.6 |
6.0 |
80.4 |
7.6 |
Jan-Mar 12 |
1234 |
15.9 |
5.4 |
78.7 |
10.5 |
13.7 |
6.5 |
79.8 |
7.3 |
Apr-June 12 |
|
|
|
|
|
13.3 |
4.6 |
82.1 |
8.8 |
| Pending Orders ‘Below Normal’ is optimistic. |
Table 4: Assessment & Expectations for Capacity Utilisation |
(Percentage responses) # |
Parameter |
Options |
Assessment for Quarter |
Expectations for Quarter |
Oct-Dec 11 |
Jan-Mar 12 |
Jan-Mar 12 |
April-June 12 |
Capacity Utilisation (main product) |
Increase |
26.9 |
30.0 |
34.5 |
30.8 |
No Change |
56.9 |
56.7 |
55.3 |
58.4 |
Decrease |
16.1 |
13.3 |
10.2 |
10.9 |
Net Response |
10.8 |
16.7 |
24.3 |
19.9 |
Level of Capacity Utilisation (compared to the average in last 4 quarters) |
Above normal |
12.7 |
13.0 |
13.6 |
12.3 |
Normal |
69.0 |
71.3 |
73.8 |
76.6 |
Below Normal |
18.3 |
15.7 |
12.7 |
11.1 |
Net Response |
-5.6 |
-2.6 |
0.9 |
1.2 |
Assessment of Prod. Capacity (with regard to expected demand in next 6 months) |
More than adequate |
11.3 |
11.4 |
12.1 |
11.3 |
Adequate |
80.2 |
81.4 |
80.5 |
82.0 |
Less than adequate |
8.5 |
7.2 |
7.4 |
6.7 |
Net Response |
2.8 |
4.3 |
4.7 |
4.6 |
| ‘Increase’ in Capacity utilisation is optimistic. |
Table 5: Assessment & Expectations for level of Inventory (Raw material and Finished goods) |
(Percentage responses) # |
Parameter |
Options |
Assessment for Quarter |
Expectations for Quarter |
Oct-Dec 11 |
Jan-Mar 12 |
Jan-Mar 12 |
Apr-Jun 12 |
Inventory of raw material |
Below average |
7.1 |
7.1 |
5.0 |
5.4 |
Average |
78.5 |
78.9 |
82.7 |
84.5 |
Above average |
14.4 |
14.0 |
12.3 |
10.1 |
Net Response |
-7.3 |
-6.9 |
-7.3 |
-4.7 |
Inventory of Finished goods |
Below average |
6.3 |
5.9 |
5.2 |
5.3 |
Average |
78.6 |
79.7 |
82.8 |
85.8 |
Above average |
15.1 |
14.5 |
12.0 |
8.9 |
Net Response |
-8.9 |
-8.6 |
-6.8 |
-3.7 |
| Inventory of raw material and finished goods ‘Below average’ is optimistic |
Table 6: Assessment & Expectations for Exports |
(Percentage responses) # |
Survey Quarter |
Total response |
Assessment for Current Quarter |
Expectation for Next Quarter |
Increase |
Decrease |
No Change |
Net Response |
Increase |
Decrease |
No Change |
Net Response |
Jul-Sep 09 |
1180 |
20.9 |
23.8 |
56.3 |
-2.9 |
20.6 |
20.5 |
59 |
0.1 |
Oct-Dec 09 |
1256 |
27.3 |
18.1 |
54.6 |
9.2 |
27.0 |
14.5 |
58.5 |
12.5 |
Jan-Mar 10 |
1079 |
28.9 |
16.2 |
54.9 |
12.7 |
31.2 |
11.0 |
57.8 |
20.2 |
Apr-Jun 10 |
1092 |
29.1 |
13.7 |
57.2 |
15.3 |
30.0 |
11.5 |
58.5 |
18.5 |
Jul-Sep 10 |
1403 |
31.8 |
11.8 |
56.5 |
20.0 |
30.8 |
10.1 |
59.1 |
20.7 |
Oct-Dec 10 |
1561 |
34.4 |
11.4 |
54.2 |
23.1 |
34.4 |
8.3 |
57.3 |
26.1 |
Jan-Mar 11 |
1524 |
32.1 |
13.2 |
54.7 |
18.9 |
34.4 |
8.1 |
57.5 |
26.3 |
Apr-Jun 11 |
1504 |
31.8 |
13.6 |
54.6 |
18.2 |
33.4 |
9.4 |
57.1 |
24.0 |
July-Sep 11 |
1528 |
28.7 |
15.7 |
56.6 |
13.1 |
35.1 |
9.2 |
55.7 |
25.8 |
Oct-Dec 11 |
1450 |
26.8 |
15.3 |
57.9 |
11.5 |
32.7 |
10.6 |
56.8 |
22.1 |
Jan-Mar 12 |
1234 |
27.8 |
13.6 |
58.6 |
14.2 |
29.0 |
10.4 |
60.6 |
18.6 |
Apr-Jun 12 |
|
|
|
|
|
30.1 |
9.4 |
60.5 |
20.7 |
‘Increase’ in exports is optimistic |
Table 7: Assessment & Expectations for Import |
(Percentage responses) # |
Survey Quarter |
Total response |
Assessment for Current Quarter |
Expectation for Next Quarter |
Increase |
Decrease |
No Change |
Net Response |
Increase |
Decrease |
No Change |
Net Response |
Jul-Sep 09 |
1180 |
21.8 |
14.0 |
64.2 |
7.8 |
17.0 |
12.4 |
70.6 |
4.6 |
Oct-Dec 09 |
1256 |
23.3 |
10.3 |
66.5 |
13.0 |
21.3 |
9.8 |
68.9 |
11.5 |
Jan-Mar 10 |
1079 |
25.5 |
8.4 |
66.1 |
17.1 |
23.4 |
6.5 |
70.1 |
16.9 |
Apr-Jun 10 |
1092 |
27.7 |
6.8 |
65.6 |
20.9 |
22.9 |
5.9 |
71.2 |
17.1 |
Jul-Sep 10 |
1403 |
28.6 |
6.6 |
64.7 |
22.0 |
27.0 |
5.4 |
67.6 |
21.7 |
Oct-Dec 10 |
1561 |
27.3 |
6.4 |
66.3 |
20.9 |
27.3 |
5.1 |
67.6 |
22.2 |
Jan-Mar 11 |
1524 |
27.0 |
7.1 |
65.8 |
19.9 |
26.7 |
5.4 |
67.9 |
21.3 |
Apr-Jun 11 |
1504 |
25.0 |
7.4 |
67.6 |
17.6 |
25.1 |
6.2 |
68.6 |
18.9 |
July-Sep 11 |
1528 |
23.3 |
7.6 |
69.2 |
15.7 |
25.1 |
6.1 |
68.9 |
19.0 |
Oct-Dec 11 |
1450 |
20.8 |
9.3 |
69.9 |
11.6 |
23.1 |
6.2 |
70.7 |
16.9 |
Jan-Mar 12 |
1234 |
22.5 |
8.0 |
69.5 |
14.4 |
23.0 |
7.5 |
69.4 |
15.5 |
Apr-Jun 12 |
|
|
|
|
|
22.4 |
6.7 |
70.8 |
15.7 |
| ‘Increase’ in imports is optimistic |
Table 8: Assessment & Expectations for Employment Outlook |
(Percentage responses) # |
Survey Quarter |
Total response |
Assessment for Current Quarter |
Expectation for Next Quarter |
Increase |
Decrease |
No Change |
Net Response |
Increase |
Decrease |
No Change |
Net Response |
Jul-Sep 09 |
1180 |
14.2 |
10.1 |
75.7 |
4.1 |
11.5 |
10.0 |
78.6 |
1.5 |
Oct-Dec 09 |
1256 |
18.2 |
7.9 |
73.9 |
10.3 |
15.8 |
7.0 |
77.2 |
8.8 |
Jan-Mar 10 |
1079 |
21.0 |
7.3 |
71.7 |
13.7 |
18.2 |
6.1 |
75.6 |
12.1 |
Apr-Jun 10 |
1092 |
21.7 |
7.0 |
71.3 |
14.7 |
19.5 |
5.9 |
74.7 |
13.6 |
Jul-Sep 10 |
1403 |
25.1 |
6.3 |
68.6 |
18.7 |
21.8 |
5.1 |
73.1 |
16.8 |
Oct-Dec 10 |
1561 |
24.8 |
5.4 |
69.9 |
19.4 |
24.7 |
3.6 |
71.7 |
21.0 |
Jan-Mar 11 |
1524 |
24.3 |
5.6 |
70.1 |
18.7 |
25.0 |
4.3 |
70.7 |
20.6 |
Apr-Jun 11 |
1504 |
24.3 |
6.1 |
69.6 |
18.2 |
23.0 |
5.6 |
71.4 |
17.4 |
July-Sep 11 |
1528 |
22.7 |
7.1 |
70.2 |
15.6 |
24.0 |
4.6 |
71.5 |
19.4 |
Oct-Dec 11 |
1450 |
18.9 |
7.6 |
73.5 |
11.3 |
21.7 |
5.2 |
73.1 |
16.5 |
Jan-Mar 12 |
1234 |
19.8 |
6.9 |
73.3 |
12.9 |
19.3 |
5.7 |
75.0 |
13.6 |
|
|
|
|
|
|
19.9 |
5.2 |
74.9 |
14.6 |
| ‘Increase’ in employment is optimistic |
Table 9: Assessment & Expectations for Overall Financial Situation |
(Percentage responses) # |
Survey Quarter |
Total response |
Assessment for Current Quarter |
Expectation for Next Quarter |
Better |
Worsen |
No change |
Net response |
Better |
Worsen |
No change |
Net response |
Jul-Sep 09 |
1180 |
34.3 |
12.5 |
53.2 |
21.8 |
32.8 |
12.8 |
54.4 |
20.0 |
Oct-Dec 09 |
1256 |
38.8 |
9.3 |
51.8 |
29.5 |
40.5 |
7.0 |
52.5 |
33.5 |
Jan-Mar 10 |
1079 |
42.3 |
6.5 |
51.3 |
35.8 |
44.3 |
5.0 |
50.6 |
39.3 |
Apr-Jun 10 |
1092 |
39.1 |
6.9 |
54.0 |
32.2 |
41.6 |
5.3 |
53.1 |
36.3 |
Jul-Sep 10 |
1403 |
38.7 |
8.1 |
53.2 |
30.6 |
39.7 |
5.6 |
54.8 |
34.1 |
Oct-Dec 10 |
1561 |
42.8 |
5.7 |
51.5 |
37.1 |
44.9 |
5.3 |
49.7 |
39.6 |
Jan-Mar 11 |
1524 |
35.7 |
8.6 |
55.8 |
27.1 |
45.5 |
4.4 |
50.1 |
41.1 |
Apr-Jun 11 |
1504 |
34.5 |
10.4 |
55.0 |
24.1 |
38.6 |
5.2 |
56.1 |
33.4 |
July-Sep 11 |
1528 |
27.8 |
16.0 |
56.2 |
11.7 |
37.4 |
6.8 |
55.7 |
30.6 |
Oct-Dec 11 |
1450 |
28.1 |
16.9 |
55.0 |
11.2 |
35.5 |
9.2 |
55.3 |
26.3 |
Jan-Mar 12 |
1234 |
30.1 |
11.9 |
57.8 |
18.5 |
35.3 |
10.2 |
54.5 |
25.2 |
Apr-Jun 12 |
|
|
|
|
|
35.7 |
8.1 |
56.2 |
27.7 |
| Overall financial situation ‘Better’ is optimistic |
Table 10: Assessment & Expectations for Working Capital Finance Requirement |
(Percentage responses) # |
Survey Quarter |
Total response |
Assessment for Current Quarter |
Expectation for Next Quarter |
Increase |
Decrease |
No Change |
Net Response |
Increase |
Decrease |
No Change |
Net Response |
Jul-Sep 09 |
1180 |
31.2 |
7.4 |
61.4 |
23.8 |
32.3 |
6.0 |
61.7 |
26.3 |
Oct-Dec 09 |
1256 |
35.2 |
6.4 |
58.4 |
28.8 |
34.7 |
4.3 |
61.0 |
30.4 |
Jan-Mar 10 |
1079 |
35.8 |
5.3 |
58.9 |
30.5 |
36.8 |
4.0 |
59.2 |
32.7 |
Apr-Jun 10 |
1092 |
34.7 |
4.8 |
60.5 |
29.9 |
31.9 |
4.3 |
63.8 |
27.7 |
Jul-Sep 10 |
1403 |
35.6 |
6.3 |
58.1 |
29.3 |
35.2 |
4.1 |
60.7 |
31.1 |
Oct-Dec 10 |
1561 |
41.3 |
4.1 |
54.6 |
37.1 |
38.4 |
3.6 |
58.0 |
34.8 |
Jan-Mar 11 |
1524 |
41.0 |
4.1 |
54.9 |
36.9 |
40.7 |
3.0 |
56.3 |
37.8 |
Apr-Jun 11 |
1504 |
41.1 |
5.4 |
53.5 |
35.7 |
37.4 |
4.4 |
58.2 |
32.9 |
July-Sep 11 |
1528 |
36.8 |
5.7 |
57.4 |
31.1 |
38.7 |
5.1 |
56.3 |
33.6 |
Oct-Dec 11 |
1450 |
38.9 |
5.7 |
55.4 |
33.3 |
38.4 |
4.2 |
57.5 |
34.2 |
Jan-Mar 12 |
1234 |
40.0 |
5.1 |
54.8 |
34.9 |
38.0 |
4.2 |
57.8 |
33.8 |
Apr-Jun 12 |
|
|
|
|
|
36.2 |
4.3 |
59.6 |
31.9 |
‘Increase’ in working capital finance is optimistic |
Table 11: Assessment & Expectations for Availability of Finance |
(Percentage responses) # |
Survey Quarter |
Total response |
Assessment for Current Quarter |
Expectation for Next Quarter |
Improve |
Worsen |
No Change |
Net Response |
Improve |
Worsen |
No Change |
Net Response |
Jul-Sep 09 |
1180 |
28.0 |
8.8 |
63.2 |
19.2 |
27.0 |
10.4 |
62.6 |
16.6 |
Oct-Dec 09 |
1256 |
30.3 |
7.2 |
62.5 |
23.0 |
31.7 |
5.6 |
62.7 |
26.1 |
Jan-Mar 10 |
1079 |
32.1 |
6.4 |
61.5 |
25.7 |
33.7 |
4.5 |
61.8 |
29.2 |
Apr-Jun 10 |
1092 |
32.3 |
5.9 |
61.8 |
26.4 |
31.2 |
4.4 |
64.4 |
26.8 |
Jul-Sep 10 |
1403 |
32.6 |
6.0 |
61.4 |
26.6 |
32.9 |
4.4 |
62.7 |
28.5 |
Oct-Dec10 |
1561 |
35.9 |
5.6 |
58.4 |
30.3 |
35.3 |
4.0 |
60.6 |
31.3 |
Jan-Mar 11 |
1524 |
32.1 |
8.3 |
59.6 |
23.8 |
36.4 |
4.0 |
59.6 |
32.3 |
Apr-Jun 11 |
1504 |
30.2 |
8.7 |
61.1 |
21.5 |
32.6 |
5.3 |
62.2 |
27.3 |
July-Sep11 |
1528 |
24.0 |
12.0 |
64.0 |
12.1 |
30.0 |
5.8 |
64.2 |
24.2 |
Oct-Dec 11 |
1450 |
24.1 |
13.7 |
62.2 |
10.4 |
28.7 |
8.5 |
62.7 |
20.2 |
Jan-Mar 12 |
1234 |
26.1 |
10.3 |
63.5 |
15.8 |
28.2 |
9.1 |
62.7 |
19.0 |
Apr-Jun 12 |
|
|
|
|
|
29.9 |
7.0 |
63.1 |
22.9 |
| Improvement in Availability of finance is optimism |
Table 12: Assessment & Expectations for Cost of External Finance |
(Percentage responses) # |
Survey Quarter |
Total response |
Assessment for Current Quarter |
Expectation for Next Quarter |
Decrease |
Increase |
No Change |
Net Response |
Decrease |
Increase |
No Change |
Net Response |
Jan-Mar 10* |
1079 |
7.7 |
23.6 |
68.7 |
-15.9 |
6.8 |
25.1 |
68.1 |
-18.3 |
Apr-Jun 10 |
1092 |
7.0 |
28.9 |
64.0 |
-21.9 |
6.1 |
26.8 |
67.1 |
-20.6 |
Jul-Sep 10 |
1403 |
5.0 |
33.2 |
61.8 |
-28.3 |
5.7 |
29.0 |
65.3 |
-23.3 |
Oct-Dec10 |
1561 |
4.0 |
37.9 |
58.1 |
-33.9 |
3.8 |
32.1 |
64.2 |
-28.3 |
Jan-Mar 11 |
1524 |
3.5 |
46.0 |
50.6 |
-42.5 |
3.7 |
35.0 |
61.3 |
-31.3 |
Apr-Jun 11 |
1504 |
3.5 |
52.5 |
44.1 |
-49.0 |
3.9 |
38.9 |
57.1 |
-35.0 |
July-Sep 11 |
1528 |
3.5 |
53.7 |
42.9 |
-50.2 |
4.0 |
43.7 |
52.4 |
-39.7 |
Oct-Dec 11 |
1450 |
2.9 |
53.4 |
43.7 |
-50.6 |
3.4 |
44.4 |
52.2 |
-41.0 |
Jan-Mar 12 |
1234 |
3.8 |
41.1 |
55.1 |
-37.4 |
4.1 |
42.8 |
53.1 |
-38.8 |
Apr-Jun 12 |
|
|
|
|
|
9.9 |
32.6 |
57.6 |
-22.7 |
#Cost of external finance ‘Decrease’ is optimistic
*this parameter was included from Survey period Jan-Mar 10 |
Table 13: Assessment & Expectations for Cost of Raw Material |
(Percentage responses) # |
Survey Quarter |
Total response |
Assessment for Current Quarter |
Expectation for Next Quarter |
Decrease |
Increase |
No Change |
Net Response |
Decrease |
Increase |
No Change |
Net Response |
Jul-Sep 09 |
1180 |
8.1 |
49.8 |
42.1 |
-41.7 |
8.7 |
35.8 |
56.5 |
-27.1 |
Oct-Dec 09 |
1256 |
6.3 |
53.4 |
40.3 |
-47.1 |
5.0 |
43.4 |
51.6 |
-38.4 |
Jan-Mar 10 |
1079 |
2.2 |
62.3 |
35.5 |
-60.2 |
3.6 |
47.9 |
48.5 |
-44.3 |
Apr-Jun 10 |
1092 |
2.5 |
65.2 |
32.3 |
-62.7 |
2.2 |
50.8 |
47.0 |
-48.6 |
Jul-Sep 10 |
1403 |
3.5 |
61.8 |
34.7 |
-58.3 |
2.7 |
52.0 |
45.2 |
-49.3 |
Oct-Dec 10 |
1561 |
2.4 |
66.3 |
31.3 |
-63.9 |
3.3 |
52.6 |
44.1 |
-49.3 |
Jan-Mar 11 |
1524 |
1.7 |
73.7 |
24.6 |
-71.9 |
2.3 |
55.9 |
41.8 |
-53.6 |
Apr-Jun 11 |
1504 |
4.5 |
70.0 |
25.6 |
-65.5 |
2.5 |
59.5 |
38.0 |
-57.0 |
July-Sep 11 |
1528 |
5.3 |
63.3 |
31.4 |
-58.1 |
4.8 |
56.6 |
38.6 |
-51.7 |
Oct-Dec 11 |
1450 |
5.1 |
66.3 |
28.7 |
-61.2 |
3.7 |
53.4 |
42.9 |
-49.7 |
Jan-Mar 12 |
1234 |
3.4 |
62.7 |
33.9 |
-59.4 |
4.0 |
54.1 |
41.9 |
-50.1 |
Apr-Jun 12 |
|
|
|
|
|
2.2 |
51.2 |
46.5 |
-49.0 |
| Cost of raw material ‘Decrease’ is optimistic |
Table 14: Assessment & Expectations for Selling Price |
(Percentage responses) # |
Survey Quarter |
Total response |
Assessment for Current Quarter |
Expectation for Next Quarter |
Increase |
Decrease |
No Change |
Net Response |
Increase |
Decrease |
No Change |
Net Response |
Jul-Sep 09 |
1180 |
19.4 |
19.2 |
61.4 |
0.2 |
17.2 |
17.2 |
65.6 |
0 |
Oct-Dec 09 |
1256 |
18.6 |
15.9 |
65.5 |
2.6 |
19.2 |
13.2 |
67.6 |
6.0 |
Jan-Mar 10 |
1079 |
24.6 |
12.2 |
63.2 |
12.4 |
20.7 |
10.9 |
68.4 |
9.8 |
Apr-Jun 10 |
1092 |
29.3 |
12.0 |
58.6 |
17.3 |
22.4 |
9.1 |
68.5 |
13.3 |
Jul-Sep 10 |
1403 |
28.0 |
14.2 |
57.8 |
13.8 |
24.4 |
9.2 |
66.3 |
15.2 |
Oct-Dec 10 |
1561 |
30.2 |
10.0 |
59.8 |
20.2 |
25.7 |
8.7 |
65.5 |
17.0 |
Jan-Mar 11 |
1524 |
35.7 |
9.2 |
55.1 |
26.5 |
26.7 |
8.1 |
65.2 |
18.6 |
Apr-Jun 11 |
1504 |
35.0 |
13.4 |
51.6 |
21.5 |
30.6 |
7.0 |
62.4 |
23.7 |
July-Sep 11 |
1528 |
27.3 |
16.6 |
56.1 |
10.7 |
29.1 |
10.7 |
60.2 |
18.3 |
Oct-Dec 11 |
1450 |
24.6 |
15.7 |
59.7 |
8.9 |
26.8 |
10.8 |
62.4 |
16.0 |
Jan-Mar 12 |
1234 |
25.1 |
11.6 |
63.3 |
13.5 |
25.0 |
10.3 |
64.7 |
14.7 |
Apr-Jun 12 |
|
|
|
|
|
26.3 |
7.3 |
66.4 |
19.0 |
| Selling price ‘Increase’ is optimistic |
Table 15: Assessment & Expectations for Profit Margin |
(Percentage responses) # |
Survey Quarter |
Total response |
Assessment for Current Quarter |
Expectation for Next Quarter |
Increase |
Decrease |
No Change |
Net Response |
Increase |
Decrease |
No Change |
Net Response |
Jul-Sep 09 |
1180 |
16.9 |
32.0 |
51.1 |
-15.1 |
16.0 |
29.4 |
54.5 |
-13.4 |
Oct-Dec 09 |
1256 |
18.1 |
28.0 |
54.0 |
-9.9 |
20.2 |
23.0 |
56.8 |
-2.8 |
Jan-Mar 10 |
1079 |
21.7 |
24.6 |
53.9 |
-2.9 |
21.1 |
20.1 |
58.8 |
1.1 |
Apr-Jun 10 |
1092 |
20.2 |
25.0 |
54.9 |
-4.8 |
22.1 |
18.9 |
59.0 |
3.2 |
Jul-Sep 10 |
1403 |
21.3 |
23.9 |
54.8 |
-2.5 |
22.2 |
19.1 |
58.7 |
3.1 |
Oct-Dec 10 |
1561 |
22.7 |
23.1 |
54.2 |
-0.4 |
25.2 |
16.1 |
58.7 |
9.2 |
Jan-Mar 11 |
1524 |
20.8 |
25.1 |
54.1 |
-4.3 |
25.6 |
17.2 |
57.2 |
8.3 |
Apr-Jun 11 |
1504 |
18.2 |
28.1 |
53.6 |
-9.9 |
22.2 |
18.4 |
59.4 |
3.8 |
Jul-Sep 11 |
1528 |
15.2 |
32.3 |
52.5 |
-17.1 |
22.0 |
19.5 |
58.5 |
2.5 |
Oct-Dec 11 |
1450 |
15.2 |
32.5 |
52.4 |
-17.3 |
20.3 |
21.9 |
57.8 |
-1.6 |
Jan-Mar 12 |
1234 |
17.5 |
28.7 |
53.8 |
-11.3 |
20.1 |
23.1 |
56.8 |
-2.9 |
Apr-Jun 12 |
|
|
|
|
|
20.4 |
21.6 |
58.0 |
-1.2 |
‘Increase’ in Profit margin is optimism |
Table 16: Assessment & Expectations for Overall Business Situation |
(Percentage responses) # |
Survey Quarter |
Total response |
Assessment for Current Quarter |
Expectation for Next Quarter |
Better |
Worsen |
No Change |
Net Response |
Better |
Worsen |
No Change |
Net Response |
Jul-Sep 09 |
1180 |
39.3 |
13.0 |
47.7 |
26.3 |
38.8 |
14.6 |
46.7 |
24.2 |
Oct-Dec 09 |
1256 |
46.0 |
10.1 |
43.9 |
36.0 |
47.2 |
7.4 |
45.4 |
39.8 |
Jan-Mar 10 |
1079 |
50.5 |
7.4 |
42.1 |
43.1 |
50.4 |
5.5 |
44.2 |
44.9 |
Apr-Jun 10 |
1092 |
47.8 |
7.1 |
45.0 |
40.7 |
47.3 |
6.1 |
46.6 |
41.2 |
Jul-Sep 10 |
1403 |
46.7 |
8.0 |
45.3 |
38.7 |
47.6 |
6.2 |
46.2 |
41.5 |
Oct-Dec 10 |
1561 |
51.4 |
5.5 |
43.1 |
45.9 |
52.5 |
5.1 |
42.4 |
47.4 |
Jan-Mar 11 |
1524 |
46.0 |
7.4 |
46.6 |
38.6 |
54.2 |
4.1 |
41.8 |
50.1 |
Apr-Jun11 |
1504 |
42.8 |
10.1 |
47.1 |
32.6 |
47.0 |
5.6 |
47.4 |
41.4 |
Jul-Sep 11 |
1528 |
34.1 |
15.4 |
50.5 |
18.7 |
46.6 |
6.8 |
46.6 |
39.8 |
Oct-Dec 11 |
1450 |
35.2 |
17.5 |
47.3 |
17.7 |
43.1 |
8.0 |
48.9 |
35.2 |
Jan-Mar 12 |
1234 |
37.8 |
11.3 |
50.9 |
26.5 |
43.6 |
10.0 |
46.5 |
33.6 |
Apr-Jun 12 |
|
|
|
|
|
43.0 |
8.1 |
49.0 |
34.6 |
| Overall Business Situation ‘Better’ is optimistic |
Table-17: Business Expectation Index |
Quarter |
ASSESSMENT |
EXPECTATIONS |
|
Index |
Change over previous quarter |
Change over previous year |
Index |
Change over previous quarter |
Change over previous year |
Jan-Mar 04 |
121.4 |
1.7 |
3.0 |
122.2 |
0.2 |
2.6 |
Apr-Jun 04 |
118.4 |
-3.0 |
8.6 |
121.5 |
-0.7 |
3.7 |
Jul-Sep 04 |
116.9 |
-1.5 |
2.6 |
120.0 |
-1.5 |
2.9 |
Oct-Dec 04 |
122.0 |
5.1 |
2.2 |
121.5 |
1.5 |
-0.6 |
Jan-Mar 05 |
122.5 |
0.5 |
1.1 |
123.2 |
1.7 |
1.0 |
Apr-Jun 05 |
117.5 |
-5.0 |
-0.9 |
120.7 |
-2.5 |
-0.8 |
Jul-Sep 05 |
114.9 |
-2.6 |
-2.0 |
119.6 |
-1.1 |
-0.4 |
Oct-Dec 05 |
124.3 |
9.4 |
2.3 |
122.7 |
3.1 |
1.2 |
Jan-Mar 06 |
120.7 |
-3.6 |
-1.8 |
125.7 |
3.0 |
2.5 |
Apr-Jun 06 |
121.8 |
1.1 |
4.3 |
120.5 |
-5.2 |
-0.2 |
Jul-Sep 06 |
120.7 |
-1.1 |
5.8 |
126.5 |
6.0 |
6.9 |
Oct-Dec 06 |
123.9 |
3.2 |
-0.4 |
125.3 |
-1.2 |
2.6 |
Jan-Mar 07 |
127.7 |
3.8 |
7.0 |
126.5 |
1.2 |
0.8 |
Apr-Jun 07 |
115.8 |
-11.9 |
-6.0 |
127.5 |
1.0 |
7.0 |
Jul-Sep 07 |
118.9 |
3.1 |
-1.8 |
121.1 |
-6.4 |
-5.4 |
Oct-Dec 07 |
115.9 |
-3.0 |
-8.0 |
124.4 |
3.3 |
-0.9 |
Jan-Mar 08 |
122.8 |
6.9 |
-4.9 |
118.6 |
-5.8 |
-7.9 |
Apr-Jun 08 |
116.2 |
-6.6 |
0.4 |
123.2 |
4.6 |
-4.3 |
Jul-Sep 08 |
113.4 |
-2.8 |
-5.5 |
122.1 |
-1.1 |
1.0 |
Oct-Dec 08 |
104.1 |
-9.3 |
-11.8 |
118.9 |
-3.2 |
-5.5 |
Jan-Mar 09 |
82.6 |
-21.5 |
-40.2 |
111.9 |
-7.0 |
-6.7 |
Apr-Jun 09 |
99.4 |
16.8 |
-16.8 |
96.4 |
-15.5 |
-26.8 |
Jul-Sep 09 |
107.2 |
7.8 |
-6.2 |
109.9 |
13.5 |
-12.2 |
Oct-Dec 09 |
112.8 |
5.6 |
8.7 |
116.4 |
6.5 |
-2.5 |
Jan-Mar 10 |
118.5 |
5.7 |
35.9 |
120.6 |
4.2 |
8.7 |
Apr-Jun 10 |
115.9 |
-2.6 |
16.5 |
119.8 |
-0.8 |
23.4 |
Jul-Sep 10 |
119.0 |
3.1 |
11.8 |
118.8 |
-1.0 |
8.9 |
Oct-Dec 10 |
122.8 |
3.8 |
10.0 |
126.5 |
7.7 |
10.1 |
Jan-Mar 11 |
122.0 |
-0.8 |
3.5 |
125.9 |
-0.6 |
5.3 |
Apr-Jun 11 |
116.3 |
-5.7 |
0.4 |
121.9 |
-4.0 |
2.1 |
Jul-Sep 11 |
109.4 |
-6.93 |
-9.67 |
121.5 |
-0.4 |
2.7 |
Oct-Dec 11 |
110.1 |
0.8 |
-12.7 |
118.8 |
-2.7 |
-7.7 |
Jan-Mar 12 |
114.9 |
4.8 |
-7.1 |
117.2 |
-1.6 |
-8.7 |
Apr-Jun 12 |
|
|
|
116.8 |
-0.4 |
-5.1 |
Table 18 : Assessment for important business parameters according to industry-wise of responding companies |
(Net response in per cent) |
| |
Production |
Order books |
Availability of Finance |
Cost of raw material |
Cost of finance |
Profit Margin |
Rd56 |
Rd57 |
Rd56 |
Rd57 |
Rd56 |
Rd57 |
Rd56 |
Rd57 |
Rd56 |
Rd57 |
Rd56 |
Rd57 |
Food products |
42.6 |
41.2 |
33.0 |
31.2 |
13.1 |
22.4 |
-56.9 |
-50.5 |
-46.2 |
-25.0 |
-10.1 |
-3.0 |
Textiles |
-1.6 |
7.5 |
-17.1 |
0.0 |
-6.4 |
-3.1 |
-35.8 |
-44.7 |
-53.8 |
-42.1 |
-40.1 |
-26.7 |
Basic Metals & Metal products |
18.1 |
29.4 |
13.5 |
21.7 |
9.3 |
17.1 |
-65.0 |
-61.1 |
-51.7 |
-39.0 |
-17.1 |
-5.6 |
Electrical machinery |
40.6 |
43.2 |
38.2 |
37.5 |
15.6 |
22.5 |
-66.7 |
-62.5 |
-46.3 |
-34.1 |
-11.6 |
-17.8 |
Other Machinery (Non-electrical machinery) & Apparatus |
22.0 |
36.2 |
19.5 |
22.6 |
10.2 |
17.7 |
-67.8 |
-66.0 |
-44.2 |
-39.1 |
-13.0 |
-18.9 |
Transport Equipment |
30.9 |
49.4 |
23.3 |
37.5 |
15.8 |
16.5 |
-63.2 |
-60.8 |
-53.8 |
-43.8 |
-15.8 |
-6.3 |
Fertilisers |
43.8 |
24.0 |
28.0 |
16.7 |
37.5 |
19.2 |
-71.9 |
-32.0 |
-50.0 |
-8.0 |
6.3 |
0.0 |
Pharmaceuticals & Medicines |
38.4 |
43.4 |
28.4 |
33.3 |
9.2 |
10.8 |
-68.7 |
-64.6 |
-59.8 |
-39.7 |
-10.1 |
-10.8 |
Basic Chemicals |
25.0 |
35.8 |
25.0 |
30.9 |
20.0 |
15.5 |
-60.0 |
-62.9 |
-47.5 |
-37.2 |
-15.3 |
-11.6 |
Rubber & Plastic products |
25.3 |
31.4 |
19.2 |
22.1 |
14.1 |
17.1 |
-50.0 |
-69.6 |
-56.8 |
-41.2 |
-24.1 |
-12.7 |
Paper & Paper products |
22.0 |
44.4 |
5.6 |
40.6 |
4.9 |
25.0 |
-78.0 |
-52.8 |
-50.0 |
-55.6 |
-34.1 |
0.0 |
Cement |
45.5 |
37.5 |
41.4 |
35.0 |
2.9 |
29.2 |
-88.6 |
-62.5 |
-57.1 |
-25.0 |
-8.6 |
12.5 |
Wood & wood products |
12.5 |
46.7 |
18.8 |
21.4 |
10.5 |
25.0 |
-72.2 |
-68.8 |
-52.9 |
-37.5 |
-10.5 |
-12.5 |
Diversified companies |
45.0 |
57.9 |
50.0 |
47.1 |
45.0 |
15.0 |
-65.0 |
-75.0 |
-44.4 |
-47.4 |
10.5 |
0.0 |
Other industries |
26.2 |
27.5 |
21.2 |
26.8 |
9.2 |
23.5 |
-66.7 |
-64.4 |
-49.2 |
-31.7 |
-13.8 |
-5.8 |
All Industries |
25.3 |
33.1 |
18.4 |
24.8 |
10.4 |
15.8 |
-61.2 |
-59.4 |
-50.6 |
-37.4 |
-17.3 |
-11.3 |
Table 19: Assessment for important business parameters according to size (PUC-wise & Annual production-wise) of responding companies |
(Net response in per cent) |
|
Production |
Order books |
Availability of Finance |
Cost of raw material |
Cost of finance |
Profit Margin |
Rd56 |
Rd57 |
Rd56 |
Rd57 |
Rd56 |
Rd57 |
Rd56 |
Rd57 |
Rd56 |
Rd57 |
Rd56 |
Rd57 |
PUC-Wise |
Small |
19.1 |
23.9 |
14.2 |
15.0 |
10.9 |
5.8 |
-65.9 |
-68.6 |
-36.9 |
-29.8 |
-18.2 |
-21.1 |
Medium |
24.9 |
33.8 |
17.6 |
25.5 |
10.6 |
18.9 |
-60.8 |
-57.3 |
-51.8 |
-39.0 |
-18.4 |
-10.0 |
Big |
41.9 |
47.9 |
38.3 |
43.9 |
7.0 |
1.4 |
-57.6 |
-63.0 |
-57.0 |
-35.3 |
0.0 |
-2.7 |
Annual Prod.-Wise |
Small |
19.4 |
24.3 |
14.9 |
16.8 |
8.7 |
13.0 |
-63.3 |
-65.2 |
-40.7 |
-30.8 |
-21.8 |
-18.3 |
Medium |
27.8 |
44.1 |
20.5 |
32.9 |
14.5 |
13.6 |
-59.1 |
-51.4 |
-55.0 |
-39.1 |
14.8 |
0.0 |
Big |
35.6 |
44.1 |
22.6 |
32.9 |
2.1 |
13.6 |
-61.6 |
-51.4 |
-66.0 |
-39.1 |
-11.2 |
0.0 |
Smaller companies (annual production less than `. 1 billion /PUC less than ` 10 million).
Medium companies (annual production between ` 1 billion to ` 10 billion /PUC between ` 10 million ` 1 billion)
Big companies (annual production above ` 10 billion / PUC above ` 1 billion) |
Table 20: Constraints for attaining the normal production level Industry-wise |
| |
Production Constraint |
NO |
YES |
Count |
Per cent |
Count |
Per cent |
Food products |
46 |
46.5 |
53 |
53.5 |
Textiles |
54 |
33.3 |
108 |
66.7 |
Basic Metals & Metal products |
83 |
45.6 |
99 |
54.4 |
Electrical machinery |
44 |
48.4 |
47 |
51.6 |
Other Machinery & Apparatus |
73 |
51.0 |
70 |
49.0 |
Transport Equipment |
35 |
43.8 |
45 |
56.3 |
Fertilisers |
15 |
57.7 |
11 |
42.3 |
Pharmaceutical & Medicines |
56 |
67.5 |
27 |
32.5 |
Basic Chemicals |
58 |
59.8 |
39 |
40.2 |
Rubber & Plastic products |
35 |
49.3 |
36 |
50.7 |
Paper & Paper products |
18 |
50.0 |
18 |
50.0 |
Cement |
14 |
58.3 |
10 |
41.7 |
Wood & wood products |
11 |
68.8 |
5 |
31.3 |
Diversified companies |
16 |
80.0 |
4 |
20.0 |
Other industries |
60 |
57.7 |
53 |
53.5 |
All Industries |
618 |
50.1 |
616 |
49.9 |
|