Growth indicators fast-approaching pre-pandemic levels: Nomura

by Nidhi Bhati

The latest readings of the Nomura India Normalization Index (NINI) suggest that economic growth, after a shallow dent in May due to the second wave lockdowns, looks to have rebounded in June, with the economic conditions looking similar to the situation in April. The overall normalization index for consumption rose to 85.1 per cent of peak capacity in June from 51.1 per cent in May and 85.9 per cent in April. Nomura, in its Asia Insights report, further stated that India’s GDP growth for 2021-22 is projected at 10.4 per cent, aided by faster vaccinations from August, steady global growth and easy financial conditions, with a severe third wave a key downside risk.

References
1. https://economictimes.indiatimes.com/news/economy/indicators/consumption-revived-in-june-investment-resilient-nomura/articleshow/84615635.cms
CMIE STATISTICS
Unemployment Rate (30-DAY MVG. AVG.)
Per cent
6.9 -1.9
Consumer Sentiments Index
Base September-December 2015
52.1 0.0
Consumer Expectations Index
Base September-December 2015
54.8 0.0
Current Economic Conditions Index
Base September-December 2015
48.0 0.0
Quarterly CapEx Aggregates
(Rs.trillion) Sep 20 Dec 20 Mar 21 Jun 21
New projects 1.99 1.25 1.87 1.81
Completed projects 0.76 0.85 1.10 0.57
Stalled projects 0.06 0.31 0.14 0.16
Revived projects 0.25 0.15 0.21 0.12
Implementation stalled projects 0.09 0.15 0.30 0.27
Updated on: 28 Jul 2021 3:28PM
Quarterly Financials of Listed Companies
(% change) Sep 20 Dec 20 Mar 21 Jun 21
All listed Companies
 Income -6.3 1.6 15.0 34.0
 Expenses -10.3 0.1 7.4 34.8
 Net profit 47.5 58.0 304.2 75.7
 PAT margin (%) 8.3 8.4 9.1 12.9
 Count of Cos. 4,419 4,433 4,211 382
Non-financial Companies
 Income -10.5 0.2 17.7 51.1
 Expenses -14.2 -0.7 10.6 56.0
 Net profit 31.7 54.4 218.4 81.9
 PAT margin (%) 8.1 8.8 9.3 13.0
 Net fixed assets 5.9 2.3
 Current assets 0.7 4.8
 Current liabilities -2.7 0.8
 Borrowings 8.3 -4.3
 Reserves & surplus 4.2 12.3
 Count of Cos. 3,278 3,293 3,143 289
Numbers are net of P&E
Updated on: 28 Jul 2021 3:28PM
Annual Financials of All Companies
(% change) FY19 FY20 FY21
All Companies
 Income 13.4 0.0 2.8
 Expenses 13.8 -0.1 0.4
 Net profit 14.2 -7.3 33.8
 PAT margin (%) 2.1 2.1 9.5
 Assets 9.8 8.3 17.1
 Net worth 8.5 4.3 18.7
 RONW (%) 3.7 3.6 10.7
 Count of Cos. 31,492 30,180 1,463
Non-financial Companies
 Income 14.1 -1.9 -0.8
 Expenses 14.4 -1.7 -2.3
 Net profit 20.6 -18.4 15.0
 PAT margin (%) 2.9 2.4 10.9
 Net fixed assets 5.6 9.7 7.0
 Net worth 7.9 1.9 18.0
 RONW (%) 6.3 5.1 13.5
 Debt / Equity (times) 1.0 1.1 0.5
 Interest cover (times) 2.3 2.0 5.8
 Net working capital cycle (days) 73 80 32
 Count of Cos. 25,254 24,140 1,091
Numbers are net of P&E
Updated on: 28 Jul 2021 4:45PM