India Cements expects improvement

India Cements’ Managing Director, N Srinivasan, has announced that the company expects an improvement in performance going forwards.

"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," said the MD.

Improving conditions in its key markets, such as in Andhra Pradesh and Telangana, in addition to pent-up demand and rural sales are expected to support results. During the first quarter of FY20-21, Mr Srinivasan said the Andhra Pradesh and Telangana governments restarted their infrastructure projects and housing for poor schemes, which also provided a boost.

Shareholders have also approved the reappointment of Rupa Gurunath as the Wholetime Director of India Cements for five years.