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The Q2 FY23 earnings of cement firms have been characterised by the double whammy of upper prices and weaker realisations. Therefore, the general influence on Ebitda/million tonne of the sector was extra extreme than anticipated.
Most protection firms reported their lowest ever Ebitda/million tonne. In addition to our protection shares, India Cements Ltd. and Sanghi Industries Ltd. reported a loss on absolute Ebitda stage.
Worth hikes have been meagre, owing to elevated competitors and an prolonged monsoon in some areas, which affected profitability.
Most firms have guided that prices have probably peaked out in Q2 FY23 given the latest decline in numerous commodity costs like crude/coal.
Nevertheless, coal/petcoke costs have been risky, and it might be a key monitorable going into H2 FY23.
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