Jul 12, 2012, 08.23 AM | Source: Moneycontrol.com
Ambuja Cements Ltd, has said its dispatches rose 7.2% to 1.79 million tonnes in June, year-on-year. Cement production at the company also grew 7.9% to 1.78% YoY.
The company has put up a good show in monsoon which traditionally leads to lower construction activity. Despatches and sales generally see declines during this period.
Meanwhile, the company had registered a growth of 8.76% on YoY basis in its production to 1.888 million tonnes in May too. The company's dispatches also grew by 11.91% to 1.935 million .
ACC Ltd's cement despatches too have grown to 1.96 million tonnes from 1.91 million, YoY. Its production also grew to 1.97 million tonnes from 1.89 million tonnes,YoY.
Analysts say if the trend continues, it will bring the industry back on a double-digit growth trajectory after a gap of three months. Amid India's disappointing GDP growth of 5.3% in the previous quarter, strong dispatches of the building material, at the start of the monsoon, has raised hope for better growth of cement industry in 2012-13.
Ambuja Cements has a capacity of 25 million tonnes per annum.
Net Sales are expected to decrease by 13.3 percent
Gaurav Bissa, Derivatives Analyst at LKP Securitie
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