Nirmal Bang: Cement Sector Q2 Earnings Review - All Round Beat Driven By Lower Costs, Better Pricing
A worker puts cement on brick before installing it on the side of a commercial building. (Photographer Patrick Fallon/Bloomberg)

Nirmal Bang: Cement Sector Q2 Earnings Review - All Round Beat Driven By Lower Costs, Better Pricing

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

Q2 FY21 has seen continuation of earnings surprise for the cement sector for the second quarter in a row.

We have collated data for 17 cement companies that have reported numbers to gauge the trends in the cement sector.

Aggregate revenue for the sector at Rs 305 billion was flat on YoY basis.

Volume at 60.3 million metric tonne increased by 1.3% YoY, indicating complete recovery in demand to pre-Covid-19 levels.

Most managements indicated that demand recovery is driven by rural and individual house building segments and that demand from the Infrastructure sector is relatively muted.

Click on the attachment to read the full report:

Nirmal Bang Cement Sector-Q2FY21 Result Review -18 November 2020.pdf

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