Declining Revenue TrendFalling top-line undermines scale economics critical in cement (unit-cost dilution, lower kiln utilization). Continued revenue decline pressures margins, limits reinvestment capacity, and raises the risk of losing contract leverage to larger peers, impairing medium-term competitive position.
Severe Free Cash Flow DeteriorationA >100% drop in free cash flow and very low cash conversion indicate material liquidity strain. Weak cash generation constrains capex for plant upkeep or emissions controls, increases reliance on external funding, and elevates risk of covenant stress or curtailed investment over the coming months.
Low Profitability And Shareholder ReturnsROE near 1.8% and low net profit margin (~4.6%) signal limited capacity to generate attractive returns on invested capital. Persistent low profitability reduces cash for dividends or growth, impedes ability to fund efficiency upgrades, and weakens competitive deterrence versus higher-return rivals.