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Overview

The cement sector is one of the most important in India, given cement's role as the key material in construction. Worldwide, cement consumption is typically not as much direct as it is indirect, through slabs and products. India, in contrast, is remarkably different in its consumption style, as it is the largest market for pure cement. Other differentiating aspects of the Indian cement sector are that companies have successfully created brands and developed significant retail-level penetration. Indian cement companies face significant challenges, including high power costs, intense competition, and the sourcing of limestone, a critical raw material. Still, the sector continues to attract significant capacity creation as well as experience consolidation.

Important takeaways from the webinar will be the key factors that should be considered while valuing Indian cement companies or assessing the competitive advantages of individual firms. Our speaker, Amit Khurana of Dolat Capital will also discuss the importance of the retail distribution network in driving market share and earnings.

This is the archived version of a live webinar that took place on 1 March 2018.

About the Speaker(s)

Amit Khurana CFA

Amit Khurana, CFA, is head of equities and research at Dolat Capital Market Private Ltd. Previously, he worked on the buy side with IL&FS (Infrastructure Leasing & Financial Services Limited) and PNB MF and on the sell side with Collins Stewart UK and Birla Sun Life. Mr. Khurana’s focus areas include research and idea development and sales efforts to domestic and FII clients, and he is actively involved in developing corporate and non-corporate relationships. Additionally, he serves on the board of directors for CFA Society India. Mr. Khurana holds an MBE from Delhi University.

Shreenivas Kunte
Shreenivas Kunte CFA, CIPM

Shreenivas Kunte, CFA, CIPM, is a director of professional learning and advocacy at CFA Institute. In this role, Mr. Kunte contributes to thought leadership in the investment profession. He writes on investing topics in leading publications and represents CFA Institute at conferences and forums. Mr. Kunte serves as an external research scholar at the Indian Institute of Technology Bombay. Previously, he worked as the country trading strategist for Citi in Tokyo, Japan. He holds a degree in computer engineering from the University of Mumbai.