In an interview to CNBC-TV18, Bina Engineer, Director of Sanghi Industries shared her readings and outlook on how FY18 is looking for the cement industry.
"Post-demonetisation there was a lot of anticipation that offered negative impact on the real estate and cement sector. To derisk ourselves, we had garnered aggressive export orders which helped us maintaining the volumes, topline and cash flows for Q3", Bina Engineer, Director of Sanghi Industries told CNBC-TV18.
In an interview to CNBC-TV18, Bina Engineer, Director of Sanghi Industries spoke about the impact of demonetisation on cement and gave her outlook for the company.
"On the pure cement volume, we have achieved a growth of almost 10 percent from 6,02,000 to 6,63,000, which apparently has helped the margins also", Bina Engineer, Director of Sanghi Industries told CNBC-TV18.
In an interview with CNBC-TV18, Bina Engineer, Director of Sanghi Ind said that the company has seen a 10 percent price improvement since last quarter in Western India and the retail price per bag of cement is in the range of Rs 270-275 whereas, the manufacturing price stands at Rs 255.
Sanghi Industries has given you 40 percent returns this year already and now is up about 1.5 percent. In an interview to CNBC-TV18, Bina Engineer, Director of Sanghi Industries spoke about the way forward for the company.
Bina Engineer, Director, Sanghi Industries says the company will invest about Rs 1000 crore for new Kutch cement grinding mill's first phase through internal accruals of Rs 300 crore and through debt of about Rs 700 crore over next 3-4 years.
Bina Engineer, Director, Sanghi Industries, discusses company's future outlook.
The company expects both volumes and prices to improve over the next six months, particularly in the run up to the election.