India's Ramco Cements set for worst day in 18 months as Q1 volumes dip more than peers

Ramco Cements

08/08/2025 06:22

** India's The Ramco Cements TRCE.NS down 5.6% to 1,073 rupees after Q1 results

** Stock set for worst day since February 2024, if losses hold

** Co's cement volumes fell 7% y/y in Q1 due to weak demand amid early monsoon rains in the southern state of Kerala

** South India gives Chennai-based Ramco 80% of its sales volumes

** Ambit Capital says Ramco's volume drop was worse than other South or East India peers, implying market share loss again

** Adds, EBITDA missed street estimates, says co has been losing market share in the past few quarters

** DAM Capital says improvement in cement pricing was a positive, but is fully factored in valuations and unlikely to deliver earnings beat vs its estimates going forward

** TRCE shares up 11.2% YTD

 (Reporting by Ananta Agarwal in Bengaluru)

 ((Ananta.Agarwal@thomsonreuters.com))