Cement’s  Volume Growth Turns Positive As Costs Remain Low: Nirmal Bang
A cement brick and trowel sit on a wall of home under construction (Photographer Chris Ratcliffe/Bloomberg)

Cement’s Volume Growth Turns Positive As Costs Remain Low: 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

Despite the pandemic and one of the worst years in the Indian economy, the cement industry (16 cement companies) reported third consecutive quarter of good results with Ebitda/million tonne for the whole industry coming in at Rs 1,000 plus.

It was due to continuation of strong pricing and lower operating costs as witnessed during the first two quarters of FY21.

However, in Q3 FY21, the industry witnessed volume growth of 5.6% YoY after two quarters of decline. In Q3 FY21, pricing declined on QoQ basis, but it was still higher on YoY basis.

Click on the attachment to read the full report:

Nirmal Bang Cement Sector Q3FY21 result review -23 February 2021.pdf

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