Cement dispatches grow 34% YoY in Feb-2020; MLCF rises yet again in the domestic race
Cement dispatches for the month of Feb-2020 increased by 34% YoY to 4.49mn tons as compared to 3.35mn tons in the same month last year.
Moreover, looking at the data for regional cement dispatches, the 31% YoY growth in local dispatches was solely on the back of 46% YoY increase in the north, whereas local dispatches in the south receded by 16% YoY.
Looking at dispatches for companies,
Dispatches grow 34% YoY in Feb-2020
Cement dispatches, as per available data, recorded growth of 34% YoY to 4.49mn tons in Feb-2020, compared to 3.35mn tons in the same month last year. The increase in overall cement dispatches during the month was led by 46% YoY (+997k tons YoY) jump in North-based local dispatches and 60% YoY (207k tons YoY) hike in South-based exports. Overall, local dispatches posted 31% YoY growth, whereas exports increased by 48% YoY. Although domestic dispatches of South-based players declined, (-16% YoY) compared to growth in the North, this is not a case of falling demand in the south; rather, it is merely due to north- based players having gained market share in the southern region, leading to lower local dispatches from south based players.
Cumulatively in 8MFY20, total dispatches have grown at 10% YoY (+3,1012k tons YoY). Local dispatches have increased by 7% YoY, whereas, exports surged by a more impressive 27% YoY. Regionally, growth in the North has been led by 16% YoY (3,184k tons YoY) rise in local dispatches. On the other hand, in the South, exports were the main growth driver, up by 48% YoY (1,338K tons YoY). In other words, although players from the south have increased their share of exports, they have lost market share in the domestic market to north-based players during 8MFY20.
MLCF continues on its merry path
Looking at dispatches' data across companies, the key winners during this month in terms of YoY growth are
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