Equity Analysis /
India

IN : Constrn & Material - Overall - Weekly Cement Compendium

    Satish Kumar
    Nishant Bagrecha
    CGS-CIMB
    27 March 2022
    Published by

    Our channel checks show demand improving in Mar 2022, while 4QFY22F may see the fall capped to low single-digit yoy; similar trend likely in Apr 2022F. Pan-India cement prices improved by only 1-2% qoq so far in 4QFY22, while further hikes (almost Rs40/bag) are key monitorable to offset cost escalation. Inflation in key inputs (coal, pet coke), other raw materials, freight and packaging costs to be an area of concern in the medium term.