Indian firms see October sales firm up
After a long lull, Indian cement majors such as ACC, UltraTech and Ambuja Cements saw their dispatches rise in October.
UltraTech, controlled by the Aditya Birla Group, posted a 21.26% jump in dispatches at 3.42Mt production rose 18.16% to 3.47Mt. ACC and Ambuja Cements, both controlled by Holcim, posted an increase of 13.6% and 19.6%, respectively in cement dispatches.
ACC’s cement despatches increased to 1.92Mt from last year’s 1.69Mta and production to 1.98Mt from 1.71Mt last year.
Ambuja Cements saw sales up at 1.75Mt compared with 1.46Mt.
DNA Money quoted Rupesh Sankhe, research analyst with Angel Broking as saying: “ACC has done well due to the addition in capacity in its Orissa plant six months back, which has now stabilised. Thus it has seen higher incremental production. Though we expected better despatch figures for this quarter and we are witnessing demand from every vertical. Cement players have also increased their capacity utilisation from 68 per cent in the last quarter to 74 per cent now and they are expected to take it up higher which would mean again full surplus would come in the market.” Published under Cement News
