Cement: Well Geared Up To Ride On Uptick In Capex Cycle, Says ICICI Direct
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ICICI Direct Report
Against the backdrop of weak sentiments due to the pandemic, the operating performance of the cement sector in H1 FY21 improved sharply led by strong demand from rural segment, improved pricing environment along with benign costs.
The improved business environment led by lower interest rates and improved liquidity has also led to re-instatement of capex plans by major companies that were halted earlier post imposition of lockdown in April 2020.
All-India asset utilisation also crossed 80% mark in October-November 2020 versus 69% in Q2 FY21 with plant utilisation in the eastern and central region remaining even higher led by strong demand.
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