Research firms expect better volumes going forward and reiterate their buy call on the stock.
Amritanshu Khaitan, MD of the company said flashlight and battery business was impacted due to demonetisation. However, both the businesses will show see huge growth in volumes in FY18.
The note ban pain is felt by the 800 workers of the country's top two-wheeler giants, who have been put on the bench as the companies wait for demand to get back to normal.
UltraTech Cement posted better-than-expected third quarter earnings Saturday but Murtuza Arsiwalla, analyst at Kotak Institutional Equities is not too optimistic on the stock right now due to its rich valuations.
The 50-share Nifty should consolidate between 7,920 - 8,100 for a few weeks, according to Mitesh Thacker of miteshthacker.com.
In conversation with CNBC-TV18, ES Ranganathan, MD of the company, said the company expects to grow in double digits at around 10 percent for the next two quarters of this fiscal year.
The effects of an economic recovery will start showing in small domestic-facing companies well before large companies, says Lalit Nambiar, Fund Manager at UTI MF.
"Recovery on consumption will happen with seventh Pay Commission and One Rank One Pension (OROP) being implemented, which will trigger demand and bring the company more volumes," says Saugata Gupta, MD and CEO of Marico.
Tough competition from unorganised sector has kept margin under pressure, says Century Plyboards' Chairman Sajjan Bhajanka.
The tractor sales of Escorts peaked in FY14, when it sold around 69,000 tractors. Madan feels this year the company may report similar numbers. It has sold close to 16,300 tractors in the first quarter.
Around 12 percent of the company's revenues come from exports. Joshi expects a 15 percent rise in export revenues.
Revenues in the first quarter ended June saw a 13 percent decline ad the business was hit because of low volumes and minimum import price (MIP) imposed by the government, says Manish Sanghi, MD of Everest Industries.
Jindal Steel & Power expects the government to extend the minimum import price (MIP) levied on certain steel products to others such as scrap, MD Ravi Uppal says.
The high-end smartphone market in India is expected to grow by 19 per cent this year as customers upgrade to premium brands like Samsung and Apple, research firm CMR today said.
A turnaround in the demand environment is likely to make fiscal year 2017 volumes better than 2016, says AK Srinivasan, Director Finance, ONGC.
In an interview with CNBC-TV18, Bina Engineer, Director of Gujarat-based Sanghi Industries, talked about the cement demand situation in the state and whether there is an uptick going into next year's state elections.
Concor‘s domestic volumes improved by 6 percent in Q4 whereas fall in realisations was one percent, says Alli Rani, Director of Finance of Concor.
The outlook for the entire recycling sector is positive. The company, which collaborates with Coca Cola for collecting industrial and post consumer waste, is looking to collaborate with more corporates for such initiatives, says Ganesha Ecosphere's CFO Gopal Agarwal.
Expansion of network, volume growth to boost Gujarat Gas' performance in FY17, says Non-executive Chairman GR Aloria.
In north India, companies have held on to their cement prices, but down south weak demand has forced price cuts, said Ankur Kulshrestha, Analyst at HDFC Securities.
The cold storage chain recently reduced the fleet size of its trucks. Due to the downsizing, the margins have gone up and are at 26 percent which are sustainable, says AM Sundar, CFO, Snowman Logistics.
Seven out of the top 10 cement stocks by market capitalization have outperformed the Sensex over the last year
Sanjay Gupta, CEO of Star Ferro ays cement prices have improved by Rs 5-10 per bag in the month of January and are expected to follow upward movement in coming quarters as well.
Sales volumes in Q3 are seen lower 10 percent at 1.9 metric tonnes versus 2.11 mt on annual basis. Subdued volume is seen mainly due to dismal demand in Southern markets. Heavy rains in Tamil Nadu will impact India Cement.
Orient Cement reported a weak set of quarterly earnings. The company saw weakness in realizations, with an 11 percent year-on-year fall in prices, said Deepak Khetrapal, MD and CEO of the company.