Cement Sector Check - Prices Stable In Q2 But Cost Elevated: IDBI Capital
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IDBI Capital Report
Our interaction with cement dealers across India suggests that average cement price at an all India level has been flat month-on-month in September 2021.
With this, Q2 FY22 average cement price is flat QoQ.
Stable price in the monsoon season is positive and lays the ground for price increase in dry season in H2 FY22.
Region wise, north has seen price increase in Q2 FY22 by 2% QoQ and east has seen cut of similar magnitude with other region prices largely stable month-on-month.
Cost continues to move up with imported coal price up 11% month-on-month in Sept 2021, and Q2 FY22 imported coal prices are up 40% QoQ.
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