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Our interaction with cement dealers across India suggests that average cement price after sharp hike of 6% in the initial days of November 2021, has seen roll back of 1-2% post festive season (Diwali).
Partial roll back of price is on expected lines.
We understand cement companies are required to take incremental hike of 3-4% in December 2021 to maintain quarter-on-quarter profitability (Ebitda/t) in Q3 FY22.
In November 2021, costs have moved southward for cement companies.
As imported coal prices, after peaking in October 2021, have almost halved now.
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