Quite a lot of home-grown firms have breached pre-COVID-19 ranges, both in gross sales or manufacturing, throughout September, indicating that the worst could also be over.
Buoyed by the current uptick in gross sales, vehicle companies and auto element makers are cautiously optimistic concerning the upcoming festive season.
Fast shifting client items (FMCG) firm CavinKare is main the pack, posting a 112% development throughout the second quarter of the present fiscal.
“We have posted a 112% growth during the second quarter and October sales alone will be at 105%,” C.Okay. Ranganathan, CMD, CavinKare, stated.
Royal Enfield posted 101% development in September gross sales.
Ashok Leyland stated it was nonetheless working at 75% of pre-COVID-19 capability ranges.
“Each month since June has seen progressively better volumes in some segments,” stated T.T. Srinivasaraghavan, MD, Sundaram Finance Ltd.
“Passenger cars probably top the list, driven by the preference for personal transportation, followed by light commercial vehicles. Tractors and farm equipment have done very well.”
Srivats Ram, MD, Wheels India Ltd., stated most segments, barring medium and heavy industrial autos and buses have proven some indicators of revival.
Most of the cement items within the South proceed to function at 75% manufacturing stage and would possibly attain 90% by the fourth quarter.