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Nirmal Bang Report
Despite the pandemic and one of the worst years in the Indian economy, the cement industry (16 cement companies) reported third consecutive quarter of good results with Ebitda/million tonne for the whole industry coming in at Rs 1,000 plus.
It was due to continuation of strong pricing and lower operating costs as witnessed during the first two quarters of FY21.
However, in Q3 FY21, the industry witnessed volume growth of 5.6% YoY after two quarters of decline. In Q3 FY21, pricing declined on QoQ basis, but it was still higher on YoY basis.
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