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    HeidelbergCement India: Mixed Q3, but long-term growth prospects remain solid

    Going by the management commentary and the allocations in the Union Budget for infrastructure and housing, FY22 could be a year of strong volume recovery for HeidelbergCement

    Sachin Pal
    February 25, 2021 / 01:14 PM IST
    HeidelbergCement India: Mixed Q3, but long-term growth prospects remain solid

    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 December quarter performance was largely in line with industry trends. The company benefited from a significant sequential improvement in the overall economy, including a delayed recovery in large metros. The business, however, did see some margin suppression due to plant shutdown. Quarterly result highlights HeidelbergCement’s revenues in Q3 rose 9 per cent year on year (YoY) driven by a combination of higher cement volumes and a  richer product mix. Cement off-take for the quarter stood at 1.27 million tonnes...

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