ICRA Forecasts Improved Margins for Asbestos Roofing Players
ICRA projects a 100-200 bps increase in PBIT margins to 8-9% for asbestos-based roofing players in FY2025 and FY2026. This growth is supported by steady volume increases and marginal improvements in realizations. However, rising asbestos fibre prices, growing competition, and regulatory risks pose challenges. The industry saw a 9.6% CAGR in fibre prices from FY2018 to FY2024, impacting profitability despite a modest 3.1% CAGR in realizations. Abhishek Lahoti from ICRA noted challenges in passing price hikes to customers, halving PBIT margins to 7% in FY2024 from 14% in FY2022.
📅Published on:
27 June 2024
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