HeidelbergCement India churns out a solid growth mix
To enhance its scale, the company is expanding its presence in Gujarat, which will add 3 MT capacity over the next 2-3 years.
September 27, 2021 / 11:44 AM IST
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
HeidelbergCement India’s performance in recent quarters has been quite impressive, despite COVID disruptions.
Improvement in the overall economic activity, including a pick-up in infrastructure activity and solid rebound in the housing market, have been driving the cement offtake for the company.
Quarterly result highlights
The second wave of COVID-19 had little impact on HeidelbergCement’s operations, and Q1FY22 revenues came in marginally lower on a sequential basis.
Cement offtake for the quarter stood at 1.18 million tonnes (MT), up 38 percent YoY. Operating profits...