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Cement volumes continued the stable trend in Aug’21

The railway freight data for Aug’21 indicates continued stable demand trend in Aug’21 notwithstanding the impact of monsoons. Volumes transported through railways reported a 2% MoM drop in Aug’21. However, in comparison to last year, transported volumes in Aug’21 were up 41% on the back of low base. Average monthly volumes for Jul-Aug’21 period witnessed a marginal decline (-2%) vs. average monthly volumes in Apr-Jun’21 period. The cumulative volumes for Apr-Aug’21 period is up 63% vs the volumes transported in AprAug’20 period.

Key Findings

Monthly average volumes in Jul-Aug’21 stable vs. 1Q average despite monsoons

* Volumes transported through railways in Aug’21 reported a 2% drop MoM (+41% YoY on low base) as the demand remained stable despite the impact of monsoons.

* Average monthly volumes in Jul-Aug’21 period was largely stable (-2%) in comparison with the average monthly volumes in Apr-Jun’21 period. Volumes recovered swiftly post the dip in May’21 (owing to 2nd wave of COVID-19).

* Overall, transported volumes on a FY22-YTD basis (Apr-Aug’21) is higher by 63% YoY.

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