Financial Daily from THE HINDU group of publications
Thursday, Sep 23, 2004
Financial Daily from THE HINDU group of publications Thursday, Sep 23, 2004 |
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Corporate
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Outlook Grasim aims 5-10% rise in cement exports through higher sales to Gulf Our Bureau
New Delhi , Sept. 22 GRASIM Industries Ltd is looking at a 5-10 per cent jump in its cement exports in the current financial year on higher sales to West Asian countries through its UltraTech CemCo division. "We expect exports to pick up further in the second half of the financial year, and growth is likely to be between five and 10 per cent," said Mr O.P. Puranmalka, Group Executive President of Grasim's cement business. On domestic sales, he said increased construction activity after the monsoon rains were likely to result in higher demand and price stability. "Prices aren't stable, but the second half should be good for prices as well as volume sales," Mr Puranmalka said on the sidelines of a conference of cement industry officials. In the first half of the current financial year, Grasim's domestic sales growth was around 6 per cent with exports worth 3.6 million tonnes of cement last fiscal year. On the domestic sales front, Birla Group executives said the June to September monsoon rains should spur construction activity on the back of higher farm output. Demand for cement in rural areas is being driven by higher farm output and a rise in cotton output should spur demand for cement in Gujarat and Maharashtra, which are among the country's highest cement-consuming States.
More Stories on : Outlook | Cement
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