Grasim expects exports to rise

Grasim expects exports to rise
Published: 22 September 2004

Grasim Industries Ltd, a part of India’s diversified AV Birla Group, expects a rise of between 5% to 10% in its cement exports in the current financial year on higher sales to the Middle East.  "We should be doing reasonably well on the export front this financial year," said O.P. Puranmalka, group executive president of Grasim’s cement business. "We expect exports to pick up further in the second half of the financial year, and growth is likely to be between 5% and 10%."

Turning to domestic sales, Puranmalka said increased construction activity after the monsoon rains should result in higher demand and price stability.  "Prices aren’t stable but the second half should be good for prices, as well as volume sales," Puranmalka said on the sidelines of a conference of cement industry officials.  In the first half of the current financial year started April, Grasim’s domestic sales growth was around 6%, outpacing industrywide growth of around 4%.  Grasim also exported 3.6Mt of cement last fiscal year.