Latest data released by PBS suggests that Large Scale Manufacturing Industries (LSMI) output has witnessed an increase of 68% YoY during Apr’21, which is attributable to the low base SPLY when there was a national lockdown on account of COVID. However, for three consecutive months the index has posted negative growth MoM with the the LSMI Index posting a decline of 7% MoM during Apr’21. Some of the monthly downtrends include 92% MoM decline in Sugar, 18% MoM decline in Wheat and grain milling, 5% MoM decline in HSD and 5% MoM decline in Billets.
The YoY increase during Apr’21 is primarily attributable to a low base effect on account of a lockdown last year, and is led by; 1. Textile (+191.3% YoY) 2. Food, Beverages and Tobacco (+8.7% YoY) 3. Coke & Petroleum (+85.8% YoY) 4. Iron and Steel products (+843.2% YoY) 5. Automobiles(+2953.1% YoY) 6. Fertilizer (+12.0% YoY) 7. Pharmaceuticals (+5.8% YoY) Rubber Products was the only category that witnessed a decline of 15% YoY.
Rubber Products was the only category that witnessed a decline of 15% YoY.
Courtesy – AHL Research