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Budget 2013 - Cement

Tuesday 19 March 2013

It is all about cementing the future with better infrastructure, housing and investments.

The Cement Sector outlook is extremely positive post the Budget 2013 announcement with an expectation of increased demand with continuous thrust on infrastructure creation. The Government is focusing on sound infrastructure by increasing expenditure by 29% for Fiscal 2014. Also expected are award orders for 3000 km of road projects across states.

Also expected are increased investment allowances which have been introduced to enhance the pace of project implementation and execution. An investment allowance has been introduced for Companies investing upto Rs 1 bn or more in plant and machinery of upto 15 percent of the investment which will be in addition to the current rates of depreciation.

However, the proposal to equalize duties on Steam coal and Bituminous coal and levy 2% customs duty and 2% CVD would marginally increase prices as Steam coal was earlier exempt from customs duty.

So who wins this year?

First Home Buyers can rejoice with the additional income tax benefit on home loans upto Rs.25 lakhs. Also, infrastructure projects will be undertaken and executed faster, leading to increase in the demand for cement thereby impacting Companies in this sector positively.

Want the stalwart of the industry analyze the budget for you? Click here.

Looking to invest in the Cement sector? Click here to open an account with Kotak Securities.

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