FORTUNE GROUP - Fortune Financial Services

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... With Growth Being Concentrated In A Few Industrial Segments On Supply Side ... Contribution To IIP Growth INDIA ECON NOMICS Electricity, 20% Mining, 3% Manufacturing, 77% Source: Ministry i of Statistics i & Program Implementation; Fortune Research Transport Equipment, 41% Basic Metals, 26% Basic Chemicals, 20% • Roughly 87% of the incremental growth in IIP can be attributed to three segments – Basic Metals, Basic Chemicals and Transport Equipments – that have a combined weight of around 25% in the aggregate g basket • In terms of distribution of growth impulses, this is marginally better than the performance in the previous month when roughly 117% of the incremental growth in IIP came from three segments that had a combined weight of around 21% in the aggregate basket • Transport Equipment – having a weight of 3.98% in the overall basket – grew at the rate of 23.9% and contributed 40.6% to the aggregate incremental growth in IIP FORTUNE GROUP INDIA EQUITY RESEARCH March 11, 2011 8
... But Distributed On DemandSide (Except Capital Goods) ... Contribution To IIP Growth INDIA ECON NOMICS Capital Goods, - 98% Intermediate Goods, 52% Consumer Goods, 92% Basic Goods, 55% Source: Ministry i of Statistics i & Program Implementation; Fortune Research Consumer Durables, 51% Consumer Non- Durables, 41% • The picture on the Demand-Side was much betterwithgrowthbeingdistributed across almost all the segments except Capital Goods • As the above exhibit shows, Intermediate Goods, Basic Goods, Consumer Durables and Non-Durables had a contribution of around 50% each • However, the 18.6% decline by Capital Goods meant that it had a negative contribution of around 98% to the aggregate IIP growth FORTUNE GROUP INDIA EQUITY RESEARCH March 11, 2011 9
Page 1 and 2: FORTUNE GROUP Industrial Production
Page 3 and 4: Industrial Growth Momentum Is Expec
Page 5 and 6: IIP Data Uncertainty Has Risen Mani
Page 7: ... Due To Deceleration In Activity
Page 11 and 12: … But Accelerated Moderation In S
Page 13 and 14: Jan-11 Oct-10 Jul-10 13 IIP Ex Capi
Page 15 and 16: Jan-11 Oct-10 Jul-10 15 IIP (12 MMA
Page 17 and 18: Jan-11 Oct-10 Jul-10 17 IIP (3 MMA)

FORTUNE GROUP - Fortune Financial Services

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