Lower capacity utilisation on a quarter on quarter (QoQ) basis affected the performance of the company for Q1 of FY17. "In April and May, the prices were under pressure and from June onwards prices have started recovering and they are stable now", NGVSG Prasad, ED & CFO of NCL Industries said.
Cement sales volume was up 9.3 percent at 6.36 metric tonnes in Q4 compared to 5.82 metric tonnes (YoY).
"Based on the cement demand indications, we do not foresee any significant improvement in the cement market in the near term," the company said in its filing.