BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Our interaction with cement dealers suggests that average cement price at all India level has declined by 1% month-on-month in July 2022. North region has seen maximum weakness (down 2% month-on-month) and central and South region prices are flat month-on-month.
Cement demand has been strong and in the June-22 result season, cement companies have reported double digit YoY volume increase. However, due to monsoon demand is expected to become soft.
Average imported coal price has remained volatile, and currently stands elevated at $333/tonne and along with depreciating rupee; overall cost of coal imports is expected to be higher.
As many companies have exhausted their low cost inventory, price hike is important to watch; or else Ebitda/tonne of companies to get impacted in September 2022 result season.
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