Cement firms press alarm bell as topline melts
The 204 million tonne per annum cement industry in India is going through difficult times, as it faces double trouble with topline and operating margins both reeling under pressure.
Cement majors including ACC, UltraTech, Ambuja Cements and Binani Cement, among others, foresee tough times ahead. Significant raw material pressure and government control on cement prices have resulted in a negative growth in the bottomline and topline for these companies.
ACC Ltd, while declaring its Q3 results for the current year said, “We foresee challenging times ahead, in respect of markets, investments and input costs. While GDP growth targets for the country are being moderated to around 6.5% to 7%, ACC is of the view that growth of cement consumption in the coming months, particularly in the housing sector,may decline.”
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To read the ePaper, visit:
http://epaper.financialexpress.com/FE/FE/2008/10/31/index.shtml
Cement majors including ACC, UltraTech, Ambuja Cements and Binani Cement, among others, foresee tough times ahead. Significant raw material pressure and government control on cement prices have resulted in a negative growth in the bottomline and topline for these companies.
ACC Ltd, while declaring its Q3 results for the current year said, “We foresee challenging times ahead, in respect of markets, investments and input costs. While GDP growth targets for the country are being moderated to around 6.5% to 7%, ACC is of the view that growth of cement consumption in the coming months, particularly in the housing sector,may decline.”
To read the full article, click here..
To read the ePaper, visit:
http://epaper.financialexpress.com/FE/FE/2008/10/31/index.shtml
Labels: Aditya Birla Group, alarm bell, bottomline, cement, Cement firms, cement prices, housing sector, raw material, real estate sector, topline, UltraTech Cement Ltd
posted by PressMart Team at
12:26 PM
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