Cement sector: The earnings of the cement companies under the coverage of Sharekhan grew by 76 per cent year-on-year on the back of lower cost for power and fuel (down 23 per cent YoY) and lower freight (down 6 per cent YoY), which led to over 550 basis points year-on-year expansion in operating profit margin. Cement companies registered a topline growth of around 5 per cent on year-on-year basis. The North India based players such as Shree Cement and JK Lakshmi Cement outperformed their peers owing to strong demand and higher realisations. However, In the southern markets, cement realisations remained under pressure on yoy basis, although volume remained strong. Ramco Cements registered a 57 per cent year-on-year growth in earnings due to lower costs for power and fuel and freight.