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Anand Rathi Report
With its cement plant running at full capacity, NCL Industries Ltd. is set to expand its cement, boards and panels capacities.
With its Chinese joint venture for steel building products having ended, it will be using the building for modular containers and formed Modular Container Pvt. Ltd. in November 2021. NCL Buildtek and NCL Industries received letters of acceptances on bids aggregating Rs 18.6 billion to supply windows and doors to Andhra Pradesh State Housing Corporation. The project is expected to complete in 1.5-two years.
Coal non-availability (on power companies preferred) and high international coal prices pushed up NCL's cement costs by Rs 30-50 a bag. To pass this on, southern manufacturers hiked prices by Rs 15-20 a bag in March 2022.
Management says a further hike is expected in April first week as production costs would shoot up ~Rs 80/bag from higher costs of diesel/fuel and power. The builders' response towards higher cement prices will be key.
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