Acceleration in demand, together with marginal price hikes of about 2-3 per cent by cement companies in the October-December quarter (third quarter, or Q3) of 2022-23, may not be enough to cushion the impact of high input costs on the bottom line, reveal Bloomberg consensus estimates for the quarter. Year-on-year (YoY) net sales growth in Q3 will come in at nearly 7 per cent, shows Bloomberg data, while bottom-line growth will show a sharp decline of 25 per cent from a year ago. The earnings before interest, tax, depreciation, and amortisation (Ebitda) will likely decline by nearly 5 per cent versus a year ago, shows data.
Whether this remains under control in the coming months will depend on the future intensity and spread of the Russia-Ukraine war, and the effectiveness of the Indian government's response, points out A K Bhattacharya.
'The signal is crude oil prices will rise, I am cutting my subsidy. Be prepared, prices will rise.'
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