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Prabhudas Lilladher Report
Based on our channel checks, all-India cement demand is estimated to grow by 8% in February on a base of up 4%.
We rate the quality of growth far better than September-November 2020, where growth was largely led by pent-up demand and weak base.
Among regions, North and East maintained outperformance over other regions with demand growth at 15% YoY each.
Demand in central region is estimated to have grown by 7%. Western region’s demand grew by 4% on back of mild recovery in Maharashtra.
While, demand in South remained muted with flattish growth.
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