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Midcap cement sector had a good show so far, but can investors bank on it?

May 28, 2020 / 09:31 AM IST
Midcap cement sector had a good show so far, but can investors bank on it?

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

The March quarter results turned out to be a mixed bag for the cement sector. Jan-Feb saw decent volume offtake across key markets. However, Covid-19 sparked a severe disruption and dragged down volumes for the quarter. Higher realisations partially offset the drop in volumes and EBITDA (Earnings before Interest, Tax, Depreciation and Amortization) margins improved on softening of input costs. Key result highlights JK Lakshmi Cement’s revenues declined 11 percent year-on-year (YoY) on the back of 16 percent fall in...

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