Cement Demand in South Bright

India Cements AGM Updates

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Chairman of India Cements Mr. N Srinivasan, speaking at the company’s 72nd AGM said that cement demand in the Southern region of the country is increasing with growth in infrastructure and housing. The company expects that demand in the second quarter will also improve despite the floods in Kerala and the transporters’ strike.

After a long time cement demand is slowly picking up in the south, which has the problem of cement over capacity. Demand for cement is slowly picking up following an increase in infrastructure and housing sector projects. The southern region is slowly catching up with the rest of the country when it comes to the demand for cement with higher capacity utilisation by the plants in the current year. Southern region registered a growth of over 20 per cent in cement output during the April-June 2018 quarter primarily driven by the infrastructure push given by the governments of Andhra Pradesh and Telangana.

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He said the plants in north, west, central and eastern regions are already operating almost at full capacity. Capacity utilisation of plants owned by India Cements Ltd was at 71 per cent better than the industry peers in South. India Cements substantially improved the operating performance in the first quarter of the financial year April-June 2018 with capacity utilisation of 80 per cent as compared to 67 per cent in the same quarter the previous year. On the capacity expansion plans in Sankari and Dalavoi plants in Tamil Nadu, Mr. Srinivasan said the company would explore avenues for augmenting capacity after attaining the expected full capacity utilisation.

It had substantially improved its operating performance in the first quarter of this year (Apr-Jun) with a capacity utilisation of 80%, against 67% in the same quarter of the previous year. It also expects the second quarter to be better despite the floods in Kerala and transporters’ strike. “This year, we’re seeing good volume and going forward, we’ll be operating almost at full capacity in the fourth quarter (Jan-Mar) of this year resulting in better performance,” Mr. Srinivasan told shareholders.

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