The Order Books, Inventories and Capacity Utilisation Survey (OBICUS), 19th round in the series, was conducted for Q2:2012-13. In all, 1,135 manufacturing companies responded, of which 46 were Government companies, 802 were public limited companies and 287 were private limited companies. The analysis is based on the data on order books, inventory levels for raw materials and finished goods, and capacity utilisation, received from these companies for the past 13 quarters i.e. Q2:2009-10 to Q2:2012-13.
Highlights:
-
New orders growth (y-o-y) was positive, but decelerated as compared with the previous quarter. Over the previous quarter, new orders showed contraction. (Table 1).
-
Capacity utilisation (CU) increased marginally as compared with the previous quarter, but remained lower than the level a year ago. (Table 2).
-
There is broad co-movement between capacity utilization and de-trended IIP manufacturing (Chart 1).
-
While the finished goods inventory as ratio to sales increased in Q2:2012-13 over the previous quarter, raw materials inventory to sales remained at the same level (Table 3).
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Table 1: Order Books (Q2: 2009-10 to Q2: 2012-13) |
Quarter
ended |
Amount in ` billion |
Q-o-Q growth (%) |
Y-o-Y growth (%) |
Avg
Backlog
order
(466)
|
Avg
New Order
book
(466)
|
Avg
Pending
order
(466)
|
Avg
Backlog
order |
Avg
New
Order
book |
Avg
Pending
order |
Avg
Backlog
order |
Avg
New
Order
book |
Avg
Pending
order |
Q2:2009-10 |
1.49 |
1.04 |
1.53 |
- |
- |
- |
- |
- |
- |
Q3:2009-10 |
1.53 |
1.08 |
1.56 |
2.8 |
4.1 |
2.1 |
- |
- |
- |
Q4:2009-10 |
1.57 |
1.12 |
1.57 |
2.6 |
3.9 |
0.3 |
- |
- |
- |
Q1:2010-11 |
1.53 |
1.06 |
1.54 |
-2.5 |
-5.6 |
-1.7 |
- |
- |
- |
Q2:2010-11 |
1.54 |
1.15 |
1.59 |
0.5 |
8.4 |
3.2 |
3.4 |
10.7 |
4.0 |
Q3:2010-11 |
1.59 |
1.27 |
1.67 |
3.4 |
10.6 |
4.8 |
4.0 |
17.7 |
6.7 |
Q4:2010-11 |
1.67 |
1.36 |
1.69 |
5.0 |
7.6 |
1.4 |
6.5 |
21.8 |
7.9 |
Q1:2011-12 |
1.67 |
1.20 |
1.66 |
0.0 |
-11.7 |
-1.9 |
9.2 |
14.0 |
7.7 |
Q2:2011-12 |
1.66 |
1.29 |
1.63 |
-0.8 |
7.4 |
-1.7 |
7.8 |
12.9 |
2.5 |
Q3:2011-12 |
1.63 |
1.39 |
1.70 |
-1.9 |
7.2 |
3.9 |
2.2 |
9.4 |
1.6 |
Q4:2011-12 |
1.70 |
1.46 |
1.67 |
4.2 |
4.9 |
-1.5 |
1.5 |
6.7 |
-1.2 |
Q1:2012-13 |
1.67 |
1.40 |
1.71 |
-1.8 |
-3.6 |
2.1 |
-0.4 |
16.5 |
2.8 |
Q2:2012-13 |
1.71 |
1.30 |
1.65 |
2.4 |
-7.1 |
-3.1 |
2.8 |
0.7 |
1.3 |
*Figures in brackets are number of companies reporting order books. |
Table 2: Capacity Utilisation & Index of Industrial Production
(Manufacturing) (Base: 2004-05=100)
|
Quarter |
IIPMFG (Qtly avg:
Base 2004-05) |
De-trended Qtly IIPMFG |
CU (%) |
Q2:2009-10 |
158.1 |
-4.2 |
78.6 |
Q3:2009-10 |
162.0 |
-2.7 |
80.9 |
Q4:2009-10 |
175.1 |
8.1 |
80.2 |
Q1:2010-11 |
165.4 |
-3.9 |
76.0 |
Q2:2010-11 |
169.8 |
-1.7 |
77.3 |
Q3:2010-11 |
176.8 |
3.2 |
79.8 |
Q4:2010-11 |
190.7 |
15.0 |
83.2 |
Q1:2011-12 |
178.2 |
0.5 |
77.7 |
Q2:2011-12 |
175.5 |
-4.1 |
77.4 |
Q3:2011-12 |
178.8 |
-2.8 |
77.9 |
Q4:2011-12 |
191.4 |
7.9 |
80.3 |
Q1:2012-13 |
176.7 |
-8.7 |
73.4 |
Q2:2012-13 |
176.0 |
-11.2 |
74.7 |
Table 3: Average Sales and Inventories and their ratios
(Q2: 2009-10 to Q2: 2012-13) |
Quarter
ended |
Amount in ` Billion |
Ratio in per cent |
Avg
Sales
(891)
|
Avg
Total
Inv
(891)
|
Avg
FG
Inv
(891)
|
Avg
WiP
Inv
(891)
|
Avg
RM
Inv |
Total
Inv/
Sales |
FG
Inv/
Sales |
RM
Inv/
Sales |
Q2:2009-10 |
2.88 |
1.48 |
0.54 |
0.22 |
0.72 |
51.4 |
18.8 |
24.9 |
Q3:2009-10 |
3.08 |
1.52 |
0.51 |
0.24 |
0.77 |
49.4 |
16.7 |
25.1 |
Q4:2009-10 |
3.30 |
1.62 |
0.53 |
0.23 |
0.86 |
49.0 |
15.9 |
26.2 |
Q1:2010-11 |
3.23 |
1.68 |
0.58 |
0.25 |
0.85 |
52.0 |
17.9 |
26.2 |
Q2:2010-11 |
3.38 |
1.75 |
0.60 |
0.27 |
0.88 |
51.7 |
17.8 |
26.0 |
Q3:2010-11 |
3.63 |
1.86 |
0.52 |
0.27 |
1.08 |
51.3 |
14.2 |
29.7 |
Q4:2010-11 |
4.07 |
2.02 |
0.68 |
0.31 |
1.02 |
49.6 |
16.8 |
25.0 |
Q1:2011-12 |
4.07 |
2.10 |
0.74 |
0.30 |
1.06 |
51.6 |
18.2 |
26.0 |
Q2:2011-12 |
4.10 |
2.12 |
0.77 |
0.33 |
1.02 |
51.7 |
18.8 |
24.8 |
Q3:2011-12 |
4.36 |
2.23 |
0.83 |
0.34 |
1.07 |
51.2 |
18.9 |
24.6 |
Q4:2011-12 |
4.80 |
2.41 |
0.80 |
0.36 |
1.25 |
50.2 |
16.7 |
26.1 |
Q1:2012-13 |
4.59 |
2.45 |
0.80 |
0.39 |
1.27 |
53.5 |
17.5 |
27.6 |
Q2:2012-13 |
4.77 |
2.64 |
0.94 |
0.39 |
1.31 |
55.4 |
19.7 |
27.6 |
*Figures in brackets are number of companies reporting inventories. |
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