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ICICI Direct Report
Pent-up demand and lower base effect are expected to aid cements' sales volumes QoQ and YoY.
However, the recovery would not be strong enough in many regions due to ongoing monsoons.
In terms of sales mix, non-trade demand is likely to remain healthy YoY as various central government infra projects gathered strong momentum while trade sales are expected to remain weak owing to heavy rains in most of the country.
In terms of regions, demand in the eastern region may remain soft due to flooding in some parts as well as sand availability issue on account of restrictions on mining during monsoons while south region would likely see better volume growth on a low base effect.
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