Building Material - Tile Exports Remain Strong; MDF Imports Stay Elevated: ICICI Securities

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Export-Import data for the month of October 2023 remains a mixed bag. Tile exports, at 52.6 million square metre, were up 69.3% YoY/flat month on month – GCC countries, USA and Iraq being the top export destinations with volume mix of ~18%, ~6% and ~6%, respectively.Tile exports for April–October 2023 remained robust at 358 msm (plus 51.3% YoY) and are expected to continue on a strong footing driven by benign gas costs and freight rates. Medium density fibreboard import volumes remain elevated for October 2023 growing 106% YoY/slipping 1.6% month-on-month to ~27,600 tonne (in line with April–October 2023 monthly average), with Thailand (~45%), Vietnam (~31%) and China (~8%) being top markets for MDF import.MDF imports remain elevated due to lower freight rates and subdued demand for furniture in developed markets, resulting in dumping in Indian markets; MDF imports are expected to remain elevated in the near term too until BIS norms are effected in February 2024.PVC imports were up 93.2% YoY/3.6% month-on-month, while CPVC imports were down 37.4% YoY/up 17.1% month-on-month. Decorative laminate exports rose 22.4% YoY/9.2% . We prefer Kajaria Ceramics Ltd. in tiles; Century Plyboard India Ltd. and Greenpanel Industries Ltd. in the woodpanel industry..Click on the attachment to read the full report:.Ambuja Cements To Invest Rs 6,000 Crore To Build 1,000 MW Renewable Power Projects.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Building Material - Tile Exports Remain Strong; MDF Imports Stay Elevated: ICICI Securities

Tile exports for April–October 2023 remained robust at 358 msm and are expected to continue on a strong footing driven by benign gas costs and freight rates.

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Building Material - Tile Exports Remain Strong; MDF Imports Stay Elevated: ICICI Securities

Tile exports for April–October 2023 remained robust at 358 msm and are expected to continue on a strong footing driven by benign gas costs and freight rates.

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