Exporters face serious liquidity crisis due to delay in GST refunds: FIEO

FIEO sought urgent intervention of FM

by Natasha Nadkar

Exporters are currently facing serious liquidity crisis as they are not receiving GST refunds as fast as promised, according to the Federation of Indian Exporters Organisation (FIEO) regional chairman A Shaktivel. He stated that many exporters were on the verge of closure due to draining of working capital and excessive blockage of funds on account of GST. FIEO has sought the intervention of the finance minister in order to instruct banks to provide ‘Bridge Loan’ at soft rate of interest to exporters immediately towards GST refund receivable. An extension of remission of state levies up to 31 December 2017 has also been sought.

References
1. http://economictimes.indiatimes.com/news/economy/policy/exporters-in-serious-fiscal-crisis-due-to-gst-refunds-delay/articleshow/60482451.cms
CMIE STATISTICS
Unemployment Rate
Per cent
5.0 -0.1
Consumer Sentiments Index
Base September-December 2015
96.0 0.0
Consumer Expectations Index
Base September-December 2015
94.5 0.0
Current Economic Conditions Index
Base September-December 2015
98.2 0.0
Quarterly CapeEx Aggregates
(Rs.trillion) Dec 16 Mar 17 Jun 17 Sep 17
New projects 2.33 3.81 2.07 1.02
Completed projects 1.01 1.94 1.14 0.99
Stalled projects 1.13 0.70 2.66 0.64
Revived projects 0.18 0.67 0.30 0.23
Implementation stalled projects 0.82 0.33 0.68 0.61
Updated on: 24 Nov 2017 8:20PM
Quarterly Financials of Listed Companies
(% change) Dec 16 Mar 17 Jun 17 Sep 17
All listed Companies
 Income 6.2 10.2 9.8 8.6
 Expenses 6.3 11.9 10.0 9.8
 Net profit 40.3 15.8 -19.7 -17.5
 PAT margin (%) 6.1 6.0 5.3 5.9
 Count of Cos. 4,507 4,438 4,292 2,833
Non-financial Companies
 Income 5.9 11.8 10.4 8.6
 Expenses 7.2 15.6 10.7 8.5
 Net profit 24.5 -2.5 -25.1 -4.6
 PAT margin (%) 6.2 6.2 5.2 6.8
 Net fixed assets 6.9 10.1
 Current assets 2.6 2.3
 Current liabilities 8.8 10.0
 Borrowings 4.8 4.0
 Reserves & surplus 6.3 8.2
 Count of Cos. 3,488 3,439 3,343 2,079
Numbers are net of P&E
Updated on: 24 Nov 2017 8:30PM
Annual Financials of All Companies
(% change) FY14 FY15 FY16 FY17
All Companies
 Income 10.0 5.2 1.1 6.6
 Expenses 9.9 5.2 1.2 6.8
 Net profit -2.2 1.6 -12.9 20.2
 PAT margin (%) 3.2 3.2 2.9 6.5
 Assets 12.3 9.4 9.6 8.8
 Net worth 9.6 8.7 10.3 8.5
 RONW (%) 6.2 6.1 5.1 9.6
 Count of Cos. 23,895 23,579 20,184 3,629
Non-financial Companies
 Income 9.7 4.3 0.1 6.5
 Expenses 9.3 4.5 -0.6 7.4
 Net profit -2.7 -5.5 11.5 14.3
 PAT margin (%) 2.2 2.1 2.6 6.5
 Net fixed assets 11.6 13.4 15.1 7.3
 Net worth 8.2 7.1 10.6 7.2
 RONW (%) 5.1 4.9 5.4 11.0
 Debt / Equity (times) 1.1 1.1 1.1 0.6
 Interest cover (times) 2.0 1.9 2.0 3.7
 Net working capital cycle (days) 69 67 66 50
 Count of Cos. 19,154 19,053 16,707 2,782
Numbers are net of P&E
Updated on: 15 Nov 2017 2:29PM

Data added for HPI at Assessment prices and HPI at Market prices