The Order Books, Inventories and Capacity Utilisation Survey (OBICUS) captures actual data from the companies in the manufacturing sector. This round of OBICUS, which is 25th round in the series, captures data for Q4:2013-14. In all, 1,049 common (for last five quarters) manufacturing companies (Government: 38, Public: 736 and Private: 275) responded in this round of survey. The analysis is based on the data on order books, inventory levels for raw materials & finished goods, and capacity utilisation, received from these common set of companies.
Highlights:
Capacity Utilisation (CU): CU, at the aggregate recorded seasonal increase and stood at 75.5 per cent in Q4:2013-14 as against 74.6 per cent in the previous quarter. However, it was lower when compared with the corresponding quarter of the previous year (78.0 per cent). The CU and de-trended IIP-Manufacturing is given in Chart 1.
Order Books: The new orders declined in Q4:2013-14 over the previous quarter by 1.5 per cent. On a y-o-y basis, it grew at a slower rate (7.4 per cent) as compared to previous quarter (12.7 per cent) (Chart 2).
Inventory to Sales Ratio: Finished goods inventory to sales ratio as well as raw material inventory to sales ratio continued to decline in Q4:2013-14 (Chart 3).
ANNEX
Table 1: Order Books (Q4: 2012-13 to Q4: 2013-14) |
Quarter ended |
Amount in ` Billion |
Q-o-Q growth (%) |
Y-o-Y growth (%) |
Avg Backlog order (436) |
Avg New Order book (436) |
Avg Pending order (436) |
Avg Backlog order |
Avg New Order book |
Avg Pending order |
Avg Backlog order |
Avg New Order book |
Avg Pending order |
Q4:2012-13 |
1.358 |
1.238 |
1.261 |
-4.7 |
3.5 |
-9.1 |
2.6 |
-6.7 |
-7.6 |
Q1:2013-14 |
1.261 |
1.168 |
1.281 |
-7.1 |
-5.7 |
1.6 |
-7.3 |
-4.3 |
-10.8 |
Q2:2013-14 |
1.281 |
1.226 |
1.286 |
1.6 |
5.0 |
0.3 |
-10.8 |
4.3 |
-9.8 |
Q3:2013-14 |
1.285 |
1.348 |
1.343 |
0.3 |
10.0 |
4.4 |
-9.8 |
12.7 |
-3.3 |
Q4:2013-14 |
1.344 |
1.329 |
1.409 |
4.6 |
-1.5 |
4.9 |
-1.0 |
7.4 |
11.7 |
Figures in parentheses are number of companies reporting order books. |
Table 2: IIP-Manufacturing and Capacity Utilisation (CU) |
Quarter |
IIP – Mfg (Qtly avg Base 2004-05) |
De-trended Qtly IIP-Mfg |
CU
(in latest survey round) |
CU (Range from previous four survey rounds) |
Q4:2012-13 |
197.2 |
11.9 |
78.0 |
75.7-78.0 |
Q1:2013-14 |
174.8 |
-11.6 |
71.9 |
71.1-73.4 |
Q2:2013-14 |
178.4 |
-9.2 |
74.3 |
73.7-74.3 |
Q3:2013-14 |
180.2 |
-8.5 |
74.6 |
73.8-74.6 |
Q4:2013-14 |
194.2 |
4.4 |
75.5 |
NA |
NA: Not applicable |
Table 3: Average Sales and Inventories and their ratios (Q4: 2012-13 to Q4: 2013-14) |
Quarter ended |
Amount in ` Billion |
Ratio in per cent |
Avg Sales (879) |
Avg
Total Inv
(879) |
Avg
FG Inv
(879) |
Avg
WiP Inv
(879) |
Avg RM Inv |
Total Inv/Sales |
FG Inv/Sales |
RM Inv/Sales |
Q4:2012-13 |
3.821 |
2.221 |
0.718 |
0.354 |
1.149 |
58.1 |
18.8 |
30.1 |
Q1:2013-14 |
3.628 |
2.233 |
0.727 |
0.365 |
1.140 |
61.5 |
20.0 |
31.4 |
Q2:2013-14 |
4.004 |
2.357 |
0.754 |
0.396 |
1.207 |
58.9 |
18.8 |
30.2 |
Q3:2013-14 |
4.123 |
2.298 |
0.710 |
0.402 |
1.187 |
55.7 |
17.2 |
28.8 |
Q4:2013-14 |
4.342 |
2.290 |
0.722 |
0.400 |
1.168 |
52.7 |
16.6 |
26.9 |
Figures in parentheses are number of companies reporting inventories.
RM: Raw Material; WiP: Work in progress; FG: Finished Goods
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