April to September 2020-21

Electrical Equipment industry in 1st Half year FY20-21 has decelerated by 28% in absolute terms over same period of last year recovering from slippage of over 40% in 1st Quarter.

In Q2, overall growth was about (-) 18% with Insulator growing about 32% (Porcelain 25% & Composite 50%), LV Swgr 5.4%, TLT 2%, RM (-) 11.5%, Conductor (-) 12%, HV Swgr (-) 26%, TRF (-) 34%, Cable (-) 30%, Capacitor (-) 38%, Meters (-) 52%, CTPT (-) 7% etc.

Exports growth is visible In some product segments like LV Switchgear, Transmission Line Towers, Capacitors etc. For the 1st time, exports were higher than imports in this period.

There are green shoots visible towards growth in overall economy due to sustained actions by Govt. of India like infusing liquidity, focusing on capex development by large CPSUs, pushing for momentum in infrastructure projects especially in RE and Transmission sectors, reducing PBG etc.

However, industry is facing challenges like abnormal surge in raw material prices in addition to availability of the same, shortage of workforce, logistics etc.

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