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Except for the West, across regions in September 2022 companies announced hikes per bag of cement (North ~Rs 10-15, East ~Rs 15, South ~Rs 30-40, Central ~Rs 15). Dealers say prices have been under pressure in July/August 2022 and declined across regions due to weak demand during the monsoon.
Whether such hikes would be sustainable will be key to watch due to stable/weak demand (monsoon/festivals—Ganesh Chaturthi/Shradh).
However, the recent cooling off of crude prices and 16% month-on-month correction in domestic pet-coke prices will result in reduced pet coke/coal/diesel prices over the next quarters on exhaustion of old high cost inventory. This will aid in improving operating performance.
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