Ramco Cement - New Capacities To Fuel Growth From FY22: ICICI Direct 

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ICICI Direct Report

The Ramco Cements Ltd.’s operating performance was impacted marginally in Q3 FY21 due to weak cement prices in the south and east regions.

Average realisations declined 10% QoQ though they remained healthy YoY (up 14%).

Further, extended monsoon in the south also impacted sales volume that declined 8.2% YoY to 2.61 metric tonne (versus our estimate: 2.61 metric tonne).

Cement capacity utilisation was at 56% versus 61% last year while clinker utilisation was at 90%.

The company has already commissioned nine-megawatt waste heat recovery system in Jayanthipuram. Another 18 megawatts would get commissioned by Q4 FY21.

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