ICICI Securities: Asbestos Cement Sheet Industry’s  Tailwinds To Sustain
Workers prepare asbestos roofing sheets for dispatch (Photographer: Adeel Halim/Bloomberg)

ICICI Securities: Asbestos Cement Sheet Industry’s Tailwinds To Sustain

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.

ICICI Securities Report

We expect the asbestos cement sheet industry to continue witnessing strong demand and pricing tailwinds in FY21 on the back of healthy rural demand.

Being an oligopoly industry with the top-six players accounting for approximately 80% of the industry size (Rs 39 billion, or 3.6 million metric tonne per annum), we believe players with pan-India presence are likely to witness strong earnings growth in FY21E.

Besides healthy demand, pricing in the industry too held up in Q2 and Q3-to-date (despite being seasonally weak quarters) and is expected to remain firm through the current fiscal.

Click on the attachment to read the full report:

ICICI Securities ACS Industry Update .pdf


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