Amid strong cement demand in April, prices remain flat: Report

18 May 2023 CW Team

Prices across India remain essentially unchanged since March. After seeing a price decrease of Rs 20 per bag in Q4FY23, prices in the South increased by Rs 10 per bag. While prices in the West and Central areas increased by Rs 3-5/bag, prices in the north of India remained unchanged. Various channel tests indicate a Rs 5/bag pricing decrease in East India.

Domestic pet coke prices have decreased 20% from March to Rs 14,639 in May, and they are anticipated to decrease even more in the adjustment for June. The price of imported fuel continued to decline in May, correcting by an additional 10% month over month, and is currently over 50% below its peak. The effect of a 10% decrease in fuel prices is comparable to a 2% price increase on EBITDA, according to Antique Stock Broking. In the first two quarters of the fiscal year 2023–24, this is projected to result in benefits of Rs 250–300/ton.

India enters a traditionally sluggish time in the second quarter, but thanks to lower costs and more consolidation, earnings might surprise. The largest player in the Indian cement market, Ultra Tech, produced, shipped, and sold 100 million tonnes in FY23. The company recorded volume growth of 15% throughout that time. This was supported by an annual effective capacity utilisation rate of 84 percent.

According to Antique Stock Broking, the volume of the cement industry will likely have increased by the high single digits in April 2023 at 35 mtpa, which represents a utilisation of roughly 80% and a significantly higher clinker utilization of 85%. When compared to the same period last year, the volumes are most likely to have increased in the North and West by mid-single digits, while in the East, Central, and South by high single digits. After seeing 9–10% growth in FY23, the brokerage anticipates industry growth to remain strong at 7-8% for FY24, helped by stronger pre-election government spending. Prices across India remain essentially unchanged since March. After seeing a price decrease of Rs 20 per bag in Q4FY23, prices in the South increased by Rs 10 per bag. While prices in the West and Central areas increased by Rs 3-5/bag, prices in the north of India remained unchanged. Various channel tests indicate a Rs 5/bag pricing decrease in East India. Domestic pet coke prices have decreased 20% from March to Rs 14,639 in May, and they are anticipated to decrease even more in the adjustment for June. The price of imported fuel continued to decline in May, correcting by an additional 10% month over month, and is currently over 50% below its peak. The effect of a 10% decrease in fuel prices is comparable to a 2% price increase on EBITDA, according to Antique Stock Broking. In the first two quarters of the fiscal year 2023–24, this is projected to result in benefits of Rs 250–300/ton. India enters a traditionally sluggish time in the second quarter, but thanks to lower costs and more consolidation, earnings might surprise. The largest player in the Indian cement market, Ultra Tech, produced, shipped, and sold 100 million tonnes in FY23. The company recorded volume growth of 15% throughout that time. This was supported by an annual effective capacity utilisation rate of 84 percent. See also: Cement volume set to rise to 450MT by FY25 with rising infrastructureDemand for cement to improve over next 12-18 months

Infrastructure Transport

11 May 2026

Shivraj Chouhan Launches PMGSY IV and Announces Package for Madhya Pradesh

Union Minister Shivraj Singh Chouhan launched the Pradhan Mantri Gram Sadak Yojana (PMGSY) IV at Bhairunda in Sehore district during the 25 year celebrations and announced a development package for Madhya Pradesh. The programme was organised by the Union Ministry of Rural Development and attended by Chief Minister Dr Mohan Yadav, ministers of state, state ministers, legislators and senior officials from the centre and the state. The minister said the central government under the Prime Minister is committed to strengthening rural livelihoods through improved connectivity, housing and women's in..

Infrastructure Urban

11 May 2026

DMR Engineering Reports FY 25-26 Financial Results

DMR Engineering reported its half year results for the financial year ended 31 March 2026 and published full year figures on a standalone basis. Standalone revenue from operations decreased by 2.01 per cent year-over-year to Rs 102.58 million (mn), while profit after tax declined by 43.94 per cent to nine point five six mn, leaving a profit after tax margin of nine point zero five per cent. Earnings per share stood at Rs zero point nine two, a fall of 44.71 per cent year-over-year. The company attributed part of the decline to one-off provisioning for bad debts and additional financing charges..

Infrastructure Urban

11 May 2026

Atlanta Electricals Posts Strong FY26 Growth And Debt Free Finish

Atlanta Electricals reported audited consolidated results for the quarter and year ended 31 March 2026. The company recorded significant year-on-year revenue growth driven by capacity ramp-up at new facilities and higher utilisation at legacy plants. The announcement summarised operating improvements and strategic milestones achieved during the year. For Q4 the company reported revenue of Rs 7.48 bn and for FY26 revenue of Rs 18.52 bn, representing robust growth versus the prior year. EBITDA in Q4 was Rs. 1.49 bn and Rs. 3.44 bn for the full year, with margins expanding to 20 per cent in the q..