India Cements Expects Better Future Performance

India Cements expects better performance in the coming quarters, supported by improving conditions in its key markets such as Andhra Pradesh and Telangana, in addition to pent-up demand and rural sales. "With further relaxation of lockdown measures, there are expectations of increased public spending on rural infrastructure, irrigation, road building and other projects. This, along with a pick-up in individual home building and construction, is expected to improve cement demand,” N Srinivasan, VC & MD of the company said. He said that the cement industry had started recovering slowly from May 2020, given the pent-up demand and the improved rural demand. Further, during the first quarter of FY21, he said the Andhra Pradesh and Telangana governments restarted their infrastructure projects and housing for poor schemes which also provided a boost.