Completion of phase-I expansion to fuel the growth With the commissioning of split grinding unit of 0.7 MT at Balasinor, the entire 4.2 MT has been commissioned this fiscal. The newly added capacities include 1 MT grinding unit (GU) each in Nimbahara and Mangrol along with 2.6 MT clinker plant and 1.5 MT GU in Aligarh and 0.7 MT GU in Gujarat (Balasinor). Hence, despite challenging year of FY21E we expect the company to clock volume CAGR of 13.2% to 12.5MT in FY22E (grey + white). The full volume benefit potential is expected to get reflected in...