Cement Q3 Earnings Preview: Robust Performance On Improved Volume, Says Reliance Securities
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Reliance Securities Report
The cement industry is expected to continue its robust performance in Q3 FY21 as well, mainly led by a rebound in volume notwithstanding cost pressure and sequential decline in average realization.
A healthy recovery in demand scenario post-monsoon led by a pick-up in construction activities across regions augurs well for the cement companies.
Higher sales volume and improving utilization are also likely to negate the adverse impact of higher fuel and input prices.
Average sales volume of the cement companies under our coverage universe is expected to increase by approximately 7% YoY and 15% QoQ mainly led by a sharp recovery in Eastern, Northern and Central markets.
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