Untitled Document
Excon, Excon 2011 Biggest Construction Equipment Trade fair India.
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www.epcworld.in
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Cement |
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| 10/21/2009 09:00:00 AM |
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Mumbai, Oct (EPC News): India’s top four cement companies ACC, Ambuja Cements, Grasim and Ultratech Cement are expected to report improved earnings on a YoY basis cement past performance of cement stocks in the September 2009 quarter, thanks largely to a reduction in key input costs such as power & fuel on a per tonne basis on a YoY basis coupled with lower freight costs. |
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These cement majors are expected to report a 34.7% YoY growth in their core net profit for the September 2009 quarter as compared with a 27.1% growth reported in the June 2009 quarter, given the beneficial impact of lower power and fuel costs. Imported coal prices at USD 75 to USD 80 per tonne in the September 2009 quarter are lower by about 50% on a YoY basis.
What has also helped is the delay in rains in several parts of the country, which has helped ensure continued strong demand conditions in the September 2009 quarter from segments such as government-funded infrastructure projects and the housing sector in smaller towns and rural areas.
Typically, cement prices weaken during the monsoon season. But this trend was more visible, especially in some southern markets. However, on an all India basis, cement prices are estimated as broadly flat on a YoY basis at INR 3,670 per tonne levels during the September 2009 quarter, going by various estimates.
Courtesy: Economic Times
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