Pandemic-hit FY21 has turned out to be a good year for the big cement companies, as their net profits surged and market position strengthened, a report said.
The net profits of 10 major listed cement companies surged by 29.6 per cent on an average in FY21, although aggregate revenues grew modestly by 3.8 per cent, according to an analysis undertaken by Acuite Ratings.
The cement volume growth has been disrupted in the April-June quarter of FY22 after the second wave of Covid-19, but the sector is expected to see good a recovery post-monsoon led by the government’s thrust on infrastructure activities and housing construction, it added.
