Larsen and Toubro Limited (L&T) has recorded higher cement despatches and output for the month of November 1999.
During November, dispatches grew 28% (YoY) to touch 915,000 MT, while production grew by a faster 32% at 891,000 MT. The growth figures are significantly higher than the overall industrial (cement) growth recorded in the month of October 1999. Although aggregate figures for the cement industry are yet to be announced, this could indicate that the cement industry is once again picking up momentum.
Cement analysts have been indicating that growth in the coming quarters may be subdued due to technical reasons. The cement demand had begun to pick up during this time previous year and therefore the year on year growth rates are likely to be suppressed. The future scenario, however, continues to remain bright with a number of them even talking of a possible deficit in cement supply in the coming two to three years. The deficit talk is mainly based on the prospects of strong demand growth even as capacity additions slow down to a trickle over the next three years.
Larsen & Toubro (L&T) has announced third quarter results of financial year 2016-2017 (3QFY17). The company has reported 1.7% YoY growth in sales while profits have grown 38.9% YoY. Here is our analysis of the results.
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