Somi Conveyor Beltings Ltd BUY 29 00
Somi Conveyor Beltings Ltd BUY 29 00 The Indian conveyor belt sector saw a sudden growth spurt since the beginning of the last decade. The massive growth in user segments, especially mining, construction, cement and steelmaking, led to increased demand for this efficient mode of bulk transport. However, it was apprehended that the general slowdown in the economy and in some of these industries could bring down the demand in recent years. This fear was later proved largely unfounded. The industry estimates for the overall volume varies from around `1,000 crore to `1,200 crore, including trough conveyor belts, textiles and steel. Trough conveyors have wide applications and are used in iron ore and gold, coal and fly ash, aggregates, sand and gravel, pulp and paper, chemicals, and agriculture and food processing. As mentioned, this industry recorded an average growth of 5 percent per annum during the last five years. Going forward, the industry expects a higher growth of 7 percent. A belt...