Diving input costs may ease Ultratech Q3 pain
- Except in the north, demand in other markets remained muted for varied reasons in Q3
- The benefits of the recent drop in costs may start reflecting meaningfully in costs from Q1FY23.
December quarter performance remained subdued for Ultratech Cement Ltd, a cement-maker with a pan-India focus. Consolidated sales volume (grey and white cement) in Q3FY22 fell 3% year-on-year (y-o-y) to 23.13 million tonnes. Except in the north, demand in other markets remained muted, impacted by cyclones in the east and south, and reduced cement demand from the infrastructure segment in the central region.