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Demand woes and rising debt a worry for Ramco Cements
Mint Mumbai
|February 13, 2024
The cement sector is currently characterized by weak demand and subdued pricing trends. Added to this, The Ramco Cements Ltd is facing other challenges as well.
To begin with, in the December quarter (Q3FY24), sales volume at 4 million tonnes (mt), rose 10% year-on-year, but fell sequentially, missing estimates.
Heavy rain, cyclones and holidays in key markets of south and east India hit demand. For Q4FY24, sales volume is seen at 5 mt and 19-20 mt in FY25.
Pricing pressures dampened realizations in Q3FY24 and the outlook provides little comfort.
Currently, cement prices in key markets are under pressure due to muted demand, and may be better in mid-February/March, the management said.
Even so, no fireworks are expected on the margin front.
This story is from the February 13, 2024 edition of Mint Mumbai.
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