Sarda Energy & Minerals Limited CC-Dec23.pdf · 2024-02-06
See, if you’ve gone through the opening remarks it was clearly mentioned that because of t he global prices being subdued the profitability and revenues have been lower compared to the last quarter and last year. What is happening is that there is a lot of activities which are happening which are not very conduciv e to business like the Hamas, the Red Sea environment , the continuous fighting between Ukraine and Russia which is still on and off and these spurts are not letting things go in the right direction in terms of infrastructure growth in these areas. Here in India, we are seeing a very strong domestic demand. We have seen the growth also for steel and the apparent consumption has also gone up. What is happening is that there are lot of places where infrastructure development is going to start taking place in a big way. We have currently seen the Atal Setu being opened. There are a lot of othe r bridges which are being made , the coastal roadway in Bombay still carrying on, part of it is g etting open, part of the coastal roadway is yet to get started. So, infrastructure is going to grow, steel is going to go up, raw material prices have gone up slightly, but I think it's only a lag which happens always in the commodity market. The lag whenever the finished prices go up the raw material prices also start moving along and vice-versa. So, hopefully we'll see the prices come back and rebound in a good way this year.
Which prices you said?