Equity Analysis /
India

IN : Constrn & Material - Overall - Roadshow with expert - key takeaways

    CGS-CIMB
    12 July 2022
    Published byCGS-CIMB

    We recently hosted a cement expert (40+ years’ experience) to discuss the impact of consolidation of ACEM & ACC on industry post Holcim India’s exit. Though the Adani group’s purchase of Holcim’s India business makes it the number two player, the expert sounded caution given the high debt burden. He feels the Adanis are unlikely to start a price war. Moreover, consolidation is likely with most of the new capacity coming from existing large players.