NIBRI continues to decline amid Covid-19 surge

by Nidhi Bhati

The Nomura India Business Resumption Index (NIBRI) plummeted to 83.8 for the week ended 18 April 2021, representing a substantial 16 percentage points (pp) decline from a week earlier. The index is trending 16.2 pp below pre-pandemic normal levels and at levels last seen in end-October 2020. Economists at Nomura expect the economic impact of the second wave to intensify in coming weeks. However, the agency stated that the impact is expected to be limited to the next one to three months, with the second wave passing over by July-September 2021. Nomura expects a revival in demand in the subsequent quarters as its sees the economy getting benefited from faster vaccinations after June 2021.

References
1. https://economictimes.indiatimes.com/news/economy/indicators/indias-pace-of-business-resumption-plummets-in-second-week-of-april-nomura-sees-more-pain-ahead/articleshow/82156721.cms
CMIE STATISTICS
Unemployment Rate (30-DAY MVG. AVG.)
Per cent
9.1 +2.5
Consumer Sentiments Index
Base September-December 2015
49.1 -1.4
Consumer Expectations Index
Base September-December 2015
51.0 -1.1
Current Economic Conditions Index
Base September-December 2015
46.1 -1.9
Quarterly CapEx Aggregates
(Rs.trillion) Jun 20 Sep 20 Dec 20 Mar 21
New projects 0.96 1.42 1.17 1.62
Completed projects 0.28 0.74 0.84 0.92
Stalled projects 0.11 0.08 0.31 0.14
Revived projects 0.68 0.29 0.15 0.14
Implementation stalled projects 0.09 0.07 0.15 0.30
Updated on: 18 May 2021 8:28PM
Quarterly Financials of Listed Companies
(% change) Jun 20 Sep 20 Dec 20 Mar 21
All listed Companies
 Income -27.7 -6.3 1.6 15.8
 Expenses -27.9 -10.3 0.2 9.8
 Net profit -40.4 47.3 57.3 77.5
 PAT margin (%) 5.2 8.3 8.4 12.2
 Count of Cos. 4,404 4,404 4,378 547
Non-financial Companies
 Income -37.4 -10.5 0.2 20.4
 Expenses -37.7 -14.2 -0.7 14.8
 Net profit -55.9 31.5 53.6 66.8
 PAT margin (%) 4.5 8.1 8.8 12.6
 Net fixed assets 5.9 4.9
 Current assets 0.7 7.7
 Current liabilities -2.7 -5.6
 Borrowings 8.3 -8.0
 Reserves & surplus 4.2 16.8
 Count of Cos. 3,267 3,266 3,252 415
Numbers are net of P&E
Updated on: 18 May 2021 8:29PM
Annual Financials of All Companies
(% change) FY19 FY20 FY21
All Companies
 Income 13.4 0.0 -5.8
 Expenses 13.8 0.0 -6.9
 Net profit 15.2 -10.9 3.5
 PAT margin (%) 2.1 2.1 10.1
 Assets 9.8 8.1 2.4
 Net worth 8.5 4.4 0.7
 RONW (%) 3.8 3.5 11.8
 Count of Cos. 30,903 29,539 49
Non-financial Companies
 Income 14.1 -1.9 -6.6
 Expenses 14.3 -1.6 -7.7
 Net profit 21.7 -21.2 2.0
 PAT margin (%) 2.9 2.4 10.5
 Net fixed assets 5.6 9.4 -0.3
 Net worth 8.0 2.2 -0.1
 RONW (%) 6.4 4.9 13.2
 Debt / Equity (times) 1.0 1.1 0.1
 Interest cover (times) 2.3 2.0 21.1
 Net working capital cycle (days) 73 80 38
 Count of Cos. 24,728 23,541 40
Numbers are net of P&E
Updated on: 11 May 2021 3:39PM