Capacity bottlenecks to be addressed for short-term only For FY19, Heidelberg clocked volume growth of 5.4% YoY to 4.9 MT and ended the year with capacity utilisation of 91%, thereby leaving very low room for growth. Since the clinker unit operated at 85% utilisation, the company would be undertaking expansion of its grinding capacity at Damoh unit in MP by 0.5 MT going ahead. This would provide the company with some room to grow in volume terms but concerns on growth in the longer term would remain unless a new project is announced. Hence, we model a...