April to September 2019-20

Indian Electrical Equipment industry has registered a decline of 6.6% in the First half of FY2019-20 as compared to 19% growth in the same period of past year & after observing stagnancy in growth in Q1 FY19-20 over the same period of last year. Brief Summary analysis of the same is as under:

• Decline in TLT, Conductors Insulator and Inst. Transformers (Transmission equipment) and HVSWGR, PT, Cables (Sub-Station Equipment)
• Growth in Meter, Insulator, SA(Dist equipment) – Domestic demand
• Growth in LV Swgr and RM – with Exports growth support only
• Delay in order finalization due to financial crunch/liquidity as financial institutions are restrictive in funding due to already high NPAs
• Some core sectors and Realty are in downward trend & no capex plans
• Exports is the only help to some extent
• RM sector growth due to demand from rolling mills and conventional generation, water management sector
• Switchgear & Cable has good exports growth but domestic demand declining especially for LV and House wiring
• TLT has exports growth & domestic demand showing some growing trends for < 400 KV
• Growth for Smart Meters mainly due to demand from EESL
• Above 400kv segment mfrs had invested enormously in putting elaborate facilities and acquiring technical knowhow has seen a de-growth of 21%. All segments except 33 & 220 kv

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