Ramco Cement - New Capacities To Fuel Growth From FY22: ICICI Direct 
An employee uses a trowel to apply mortar to a breeze block wall on a home under construction. (Photographer Chris Ratcliffe/Bloomberg)

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

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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 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.

Click on the attachment to read the full report:

ICICI Direct Ramco Cement Q3FY21 Result Update.pdf

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