India industry to achieve 12% growth in last quarter
Despite concerns on slowdown, led by a change in economic scenario along with excess supply pressure, the Indian cement is ending FY09 on a strong note.
According to experts, the fourth quarter of the current financial year 2009 will report a 2-3% growth in margins due to rise in prices and 10-12% year-on-year growth in sales due to sudden increase in demand this quarter.
On the backdrop of good demand coming from the infrastructure segment, cement dispatches from the past consecutive four months had increased with 11% y-o-y in November 2008, 12% YoY growth in December and 8.26% and 8.73% YoY growth in January and February 2009, respectively.
HM Bangur, CMD, Shree Cement and president of Cement Manufacturers Association told FE, “For the full year, the volumes for the industry will be higher by 8%. However, the yearly profits are expected to be lower than last year. This is because the price hikes in the fourth quarter were able to only partially recover the high cost.”
Published under Cement News
