Cement Sector Update - FY21 - A Year Of Opportunity In Adversity; Strong Growth Outlook: Nirmal Bang

The shadow of site workers falls on wet cement as it is poured over reinforced steel during groundwork construction. (Photographer: Angel Navarrete/Bloomberg).

Cement Sector Update - FY21 - A Year Of Opportunity In Adversity; Strong Growth Outlook: Nirmal Bang

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.

Nirmal Bang Report

In this report, we have tweaked our cement industry's demand-supply model based on recent trends along with updated pricing and cost estimates for our coverage companies.

This has resulted in marginal changes to our estimates and price targets across our coverage as highlighted in the table on the next page.

We had recently changed our stance on the sector and our view is that demand recovery will continue in FY22 as well as next year.

However, Ebitda growth over FY22-23 is largely factored in the stock prices with limited room for any unexpected risks.

Click on the attachment to read the full report:

Nirmal Bang Cement Sector Update - 25 June 2021.pdf

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