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08 Apr 2025
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Construction Materials
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Prabhudas Lilladhar
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Sector Update
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EBITDA and PAT are expected to decline by 20.6% and 24.1% YoY, respectively, mainly due to margin contraction of 380bps YoY, largely because of inventory losses and volatility in PVC resin prices. Supreme Industries and Astral are expected to post moderate sales growth of +3.2% and +4.3% YoY, respectively, with volume growth in the Pipes & Fittings (P&F)...
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07 Apr 2025
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Construction Materials
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Prabhudas Lilladhar
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Sector Update
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volume growth and a slight uptick in pricing during the quarter. Demand remained firm across regions, led by private builders and IHB segment, supported by a growing real estate market, increased government-led infrastructure activities, and the lifting of GRAP-3 restrictions imposed earlier in NCR due to pollution. However, certain challenges impacted pricing and overall growth. Labor shortages due to regional festivals in Jan'25, an increase in non-trade sales, and a volume push by companies to meet year-end sales targets restricted the scope for price hikes. Additionally, intense competition...
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04 Apr 2025
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Construction Materials
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Axis Direct
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Sector Update
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Our Top Positive Plays: UltraTech Cement; JK Cement; JK Lakshmi Cement; Star Cement
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01 Apr 2025
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Construction Materials
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Prabhudas Lilladhar
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Sector Update
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strong in Mar'25 and has been on an upward trend since late Dec'24. However, prices declined in a few regions in Mar'25, primarily due to dealers pushing volumes to meet year-end targets. Among key markets, Ahmedabad, Bhopal and Hyderabad saw a price decline of Rs10/bag, while prices remained unchanged in Jaipur, Chennai and Mumbai. In contrast, Delhi, Patna, Kolkata and Lucknow witnessed a price hike of ~Rs10/bag. As a result, all-India average price remained largely flat MoM at Rs352/bag. Looking ahead, with...
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10 Feb 2025
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Construction Materials
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Axis Direct
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Sector Update
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Top Conviction Ideas - UltraTech Cement Ltd, JK Cements Ltd, Ambuja Cements Ltd
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06 Jan 2025
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Construction Materials
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Axis Direct
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Sector Update
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Q3FY25 Earnings Preview - CEMENT
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13 Nov 2024
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Construction Materials
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Axis Direct
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Sector Update
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Top Conviction Ideas Cement: UltraTech Cement Ltd; JK Cements Ltd ; Ambuja Cements Ltd
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07 Oct 2024
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Construction Materials
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Prabhudas Lilladhar
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Sector Update
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08 Jul 2024
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Construction Materials
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Axis Direct
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Sector Update
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Our top positive plays are: UltraTech Cement; Shree Cement; ACC Ltd; Birla Corporation; JK Cement; JK Lakshmi
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13 Jun 2024
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Construction Materials
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IDBI Capital
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Sector Update
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03 Jun 2024
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Construction Materials
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Axis Direct
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Sector Update
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Top Sector Ideas - Cement Q4FY24
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26 Apr 2024
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Construction Materials
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IDBI Capital
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Sector Update
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05 Apr 2024
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Construction Materials
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Axis Direct
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Sector Update
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Cement - Q4FY24 Earnings Preview
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11 Mar 2024
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Construction Materials
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Prabhudas Lilladhar
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Sector Update
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26 Feb 2024
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Construction Materials
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IDBI Capital
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Sector Update
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21 Feb 2024
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Construction Materials
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BOB Capital Markets Ltd.
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Sector Update
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Cement: Q3FY24 Review Cost savings lift margins
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20 Feb 2024
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Construction Materials
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BOB Capital Markets Ltd.
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Sector Update
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Currency Outlook: Fortnightly forex review. JKLC: Volumes slow, headwinds continue retain SELL. Insurance: Q3FY24 Review Private insurers dominate the quarter. Building Materials: Q3FY24 Review Soft quarter on poor demand and margin pressure
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20 Feb 2024
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Construction Materials
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BOB Capital Markets Ltd.
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Sector Update
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Softer fuel (pet coke) cost aided 560bps YoY EBITDA margin expansion on average for our cement coverage in Q3
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16 Feb 2024
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Construction Materials
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Axis Direct
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Sector Update
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Top Sector Ideas - Cement Q3FY24
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11 Jan 2024
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Construction Materials
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Trendlyne Analysis
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Sector Update
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The Indian cement sector is currently seeing a phase of rapid consolidation. Smaller players are either being acquired or struggling to survive, as large players threaten their margins with price wars.
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