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Demand uptick visible in Dec’21

The railway freight data for Dec’21 indicates a sharp bounce-back MoM. Volumes transported through railways reported a 23% MoM Jump in Dec’21. In comparison to last year, transported volumes in Dec’21 were down marginally (-1%) as the volumes witnessed headwinds in Central, South and East during 1H of the month. Volume in Dec’21 vs. Sep’21 reported a growth of 14%. The cumulative volumes for Apr-Dec’21 and Oct-Dec’21 period is up 28% and 3% vs the volumes transported in Apr-Dec’20 and Jul-Sep’21 period respectively.

Key Findings

Demand accelerates in second half of Dec’21

* Volumes transported through railways in Dec’21 reported sharp uptick of 23% MoM (- 1% YoY driven by short term challenges in Central, East and South).

* Volumes in Dec’21 were 14% higher vs. volume transported in Sep’21. The demand recovered gradually over the course of the month with sharp bounce-back in 2H of Dec’21. On a QoQ basis, volumes transported in 3Q is marginally higher by 3% vs. 2Q.

* Overall, transported volumes on a FY22-YTD basis (Apr-Dec’21) is higher by 28% YoY.

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