And The Indian Cement Industry Outlook Series
Against the Covid-19 pandemic, most businesses will be looking to maintain their cash position. This is true of the Indian Cement Industry too. Due to the lockdown, cement sales have been adversely affected and this in turn has affected their ground level liquidity. Focus will be on maintaining or improving liquidity. Another aspect would be reducing expenditure. To this effect, a major casualty will be capital expenditure.
Cement major UltraTech has already begun moving in this direction. The Aditya Birla Group Company has stated in a regulatory filing:
That the capital and financial resources of the company are well protected.
That the company had been servicing its debt obligations as per schedule and on the due dates.
The the company did not require to avail the moratorium extended by banks as per RBI guidelines.
That the company plans to restrict its capital expenditure (CAPEX) to Rs. 1,000 crores.
Cement major UltraTech has already begun moving in this direction. The Aditya Birla Group Company has stated in a regulatory filing:
That the capital and financial resources of the company are well protected.
That the company had been servicing its debt obligations as per schedule and on the due dates.
The the company did not require to avail the moratorium extended by banks as per RBI guidelines.
That the company plans to restrict its capital expenditure (CAPEX) to Rs. 1,000 crores.
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