Cement Q3 Earnings Preview - Demand Exhibits Softness, Outlook Remains Positive: Axis Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Axis Securities Report.Q3 FY22 witnessed subdued cement demand YoY. While demand gained pace in October 2021, it slowed down substantially in November 2021 owing to construction ban in the national capital region, heavy rainfall in Southern and few North states, sand issues in Eastern region as well as in parts of Uttar Pradesh, and holiday season during Diwali festival. We estimate demand de-growth to be between 14-16% in Nov-21. Demand picked up in Dec-21, albeit at a slower pace. The non-trade channels witnessed good demand as various central government projects related to infra and housing continued at a good pace. Rural demand, which was a torchbearer last time, stood laggard this time around as overall cement demand remained muted. Urban and semi-urban demand, too, was lacklustre with state governments projects progressing at a slower pace owing to fund shortage. .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Cement Q3 Earnings Preview - Demand Exhibits Softness, Outlook Remains Positive: Axis Securities

Cement Q3 Earnings Preview - Demand Exhibits Softness, Outlook Remains Positive: Axis Securities

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