Indian cement company, Sagar Cements, has recorded a dip in year-on-year cement production in December, according to a company announcement to the Bombay Stock Exchange.
The company reported consolidated production of 0.15 million t in December 2016, compared to 0.16 million t in December 2015.
Indian cement production fell towards the end 2016 after the government’s demonetisation programme hit the construction industry. Cement production growth was just 0.5% in November 2014, according to ratings agency, India Ratings and Research (Ind-Ra), compared to 6.2% in October.
Consolidated production in the financial year to date remains higher than the same period in the previous financial year at 1.57 million t compared to 1.22 million t.
Year-to-date sales also remain up at 1.55 million t compared to 1.32 million t in the same period in the last financial year.
Regionally, Andhra Pradesh accounts for the largest part of the company’s sales, taking 0.37 million t in the financial year to date. Telangana comes in second place, accounting for 0.28 million t of the company’s sales.
Read the article online at: https://www.worldcement.com/indian-subcontinent/06012017/sagar-cements-production-falls-in-december/