Quarterly Order Books, Inventories and Capacity Utilisation Survey (OBICUS) October-December 2015 (32nd Round)

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ಪ್ರಕಟಿಸಲಾದ ದಿನಾಂಕ ಏಪ್ರಿಲ್ 05, 2016

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Quarterly Order Books, Inventories and Capacity Utilisation Survey (OBICUS) October-December 2015 (32nd Round)

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 the 32nd round in the series, captures data for Q3:2015-16. In all, 1,058 manufacturing sector companies responded in this round of the survey. The analysis is based on the data on order books, inventory levels for raw materials & finished goods, and capacity utilisation, received from common set of companies.

Highlights:

Capacity Utilisation (CU): At the aggregate level, CU recorded increase in Q3:2015-16 over the previous quarter and stood at 72.5 per cent. There is a broad co-movement between capacity utilisation and de-trended IIP manufacturing, except for some quarters including Q3:15-16 (Chart 1).

Order Books: The average new orders dropped in Q3:2015-16 from its level of previous quarter. However, it grew marginally from its level a year ago (Chart 2).

Inventory to Sales Ratio: The finished goods inventory to sales ratio (FGI/S) continued to remain steady in Q3:2015-16. The raw material inventory to sales ratio (RMI/S) declined in Q3:2015-16; however, it stood at a higher level as compared to Q3:2014-15 (Chart 3).

ANNEX

Table 1: IIP-Manufacturing and Capacity Utilisation (CU) – (Based on common set of 941 companies in 5 quarters)
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)
Q3:2014-15	182.2	-5.6	71.7	70.7 – 72.0
Q4:2014-15	201.2	12.9	73.5	73.6 – 75.2
Q1:2015-16	188.4	-0.4	71.5	71.3 – 71.5
Q2:2015-16	187.4	-2.0	71.4	70.6 – 70.6
Q3:2015-16	184.0	-5.9	72.5	NA #
*: Since CU is being computed based on 5 quarter common set of companies, the CU for each round gets revised for subsequent four rounds. #: CU is calculated first time for Q3:2015-16.

Table 2: Order Books (Q3:2014-15 to Q3:2015-16) – (Based on common set of 366 companies in 9 quarters)
Quarter	Amount in ₹ Billion			Q-o-Q growth (%) – Seasonally not adjusted			Y-o-Y Growth (%)
Quarter	Avg Backlog order	Avg New Order book	Avg Pending order	Avg Backlog order	Avg New Order book	Avg Pending order	Avg Backlog order	Avg New Order book	Avg Pending order
Q3:2014-15	1.660	1.110	1.618	2.1	-9.1	-2.4	7.8	-8.9	-0.7
Q4:2014-15	1.617	1.171	1.519	-2.6	5.5	-6.1	-1.0	-1.8	-6.6
Q1:2015-16	1.521	1.186	1.577	-5.9	1.3	3.8	-2.9	4.7	-3.1
Q2:2015-16	1.583	1.226	1.649	4.1	3.4	4.5	-2.6	0.4	-0.6
Q3:2015-16	1.649	1.161	1.724	4.2	-5.3	4.5	-0.7	4.6	6.5

Table 3: Average Sales and Inventories and their ratios (Q3:2014-15 to Q3:2015-16) – (Based on common set of 743 companies in 5 quarters)
Quarter	Amount in ₹ Billion					Ratio in per cent
Quarter	Avg Sales	Avg Total Inv	Avg FG Inv	Avg WiP Inv	Avg RM Inv	Total Inv/Sales	FG Inv/Sales	RM Inv/Sales
Q3:2014-15	6.029	2.741	1.082	0.411	1.248	45.5	17.9	20.7
Q4:2014-15	5.513	2.677	1.065	0.391	1.221	48.6	19.3	22.1
Q1:2015-16	5.671	2.782	1.155	0.430	1.198	49.1	20.4	21.1
Q2:2015-16	5.351	2.812	1.097	0.450	1.264	52.5	20.5	23.6
Q3:2015-16	5.244	2.593	1.058	0.406	1.129	49.5	20.2	21.5
RM - Raw Material; WiP - Work in progress; FG - Finished Goods; Inv – Inventory.

¹ The 31st round (Q2:2015-16) survey results were released on January 28, 2016 on the RBI website. The survey results are those of the respondents and are not necessarily shared by the Reserve Bank of India.