OfBusiness Cement Dailies | 6th November 2023

Price

• Cement prices remain unchanged as of today. AAC Block ex Panipat is priced at Rs 2,500/cubic meter, and ex Nashik is priced at Rs 3,300/cubic meter, with GST being additional.

Demand and Supply

• The supply of Cement has experienced delays, especially in the western and central regions, particularly with the OPC43/53 grade in loose. However, demand remains strong in the western region and low in the southern region.

News

• JK Cement Ltd (JKCL) reported a 62.18% increase in Q2 profit, reaching Rs 178.47 crore, up from Rs 110.04 crore in the same period last year. Q2 revenue saw a 23.23% rise, reaching Rs 2,752.77 crore, with total expenses increasing by 21.08% to Rs 2,537.89 crore. Total income reached Rs 2,782.10 crore, marking a 23.66% year-on-year increase.
• The Commission for Air Quality Management (CAQM) decided to invoke Stage IV of the GRAP in the entire NCR, including Delhi, with immediate effect on Sunday. This action is in addition to all measures under Stage I, II, and III to prevent further deterioration of air quality in the region.
• In a significant crackdown on industrial sources of air pollution in Mumbai, the Maharashtra Pollution Control Board (MPCB) issued ‘closure notices’ to city-based units of CEAT Tyres and a Deonar-based ready-mix Cement (RMC) plant of JSW Green Cement for flouting air pollution norms prescribed by the pollution control body.
• At a recently concluded dealer meet in Srinagar, Jammu and Kashmir, Khyber Cement introduced its dealers to the new, modernity-based brand identity. Leveraging forward-thinking strategies and a community-centric approach to progress, Khyber Cement’s key stakeholders took the lead, guiding those present through the brand new corporate branding and packaging along with the long-term strategy of the Company.

OFB’s Opinion

• Maintaining inventory for at least two days, considering site consumption and scheduling dispatches while accounting for buffer time, would be beneficial.
• If the site is in NCR or near Mumbai, maintaining inventory will not be fruitful, as major site works are currently at a halt, and the chances of lump formation are very high due to humidity.