The company is engaged in manufacturing of cement and ready-mix concrete. It is a pan-India player and the geographical mix includes North (18 per cent), South (30 per cent), West (12 per cent), East (27 per cent) and Central (13 percent). The company had commissioned Jamul and Sindri plants in H2CY16 by taking the capacity from 2.8 MT to 33.4 MT. This capacity ramp-up led to growth in volumes in CY17 and CYH118 and also helped company to gain its lost market share. It has renewed the technology and know-how agreement from Jan. 1, 2018 for a period of three years. Also, the board has approved master supply agreement (MSA) with Ambuja Cements for three years which will bring in synergy benefits. This year’s normal monsoon is expected to bring uptick in demand in construction and infrastructure sectors. Thus, we recommend it as a BUY.