India’s steel and cement companies are witnessing a revival after getting eviscerated by the pandemic, a sign that the infrastructure sector is returning to normality, a report of CARE Ratings said on Friday, March 12.
According to the report, margins of steel companies are expected to grow further during the current quarter of the fiscal year following a sharp drop in the first quarter.
India’s steel output in the current fiscal year is set to be around 102 million mt, a decline of seven percent, CARE Ratings’ report said.
“A similar fall in steel consumption is estimated to be around eight percent during the 2020-21 fiscal year at about 92 million mt, considering that January-March is a seasonally heavy quarter for the industry,” the report added.