there has been hardly any cement sales volume growth for the company. That is a big cause of worry. the volumes were 4.65 mt tonnes in FY18. And, in latest FY23, the volumes is a mere 4.39 mt tonnes. this needs to go to atleast 6 mt tonnes, for company to stop losing market share.
Company keeps on claiming good cement volume growth in each concall, but the volume growth has actually been NEGATIVE in last 5 years.
Company continues to lose market share, even when India’s cement consumption growth has been steady at 8-9%.
Two triggers which can re-rerate the stock from here:-
- High single-digit growth shown in Cement Volumes.
- Merger with Zuari Cement.
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