Cement demand is seen rising 8-9% in FY24
Cement

Cement demand is seen rising 8-9% in FY24

Government efforts to build infrastructure will continue to be strong.

Demand will increase this fiscal year by 8–9% on top of a 9% gain in FY22, which will aid in the sector's return to profitability, according to research.

According to India Ratings, which has a neutral outlook for the sector for the year, the sector will remain strong despite the substantial investment pipeline thanks to a recovery in profitability despite inflationary pressure and stable balance sheets.

According to the agency, demand would increase by 8–9% in FY24 compared to a projected 9% increase in FY23, giving the industry a five-year compounded annual growth rate of 4.5%.

Even though the industry is anticipated to raise prices only by a small percentage, softening gasoline costs will help operational margins recover. The agency anticipates operating margins to increase to Rs 950–1,000/MT in FY24 as a result of falling fuel and power prices. However, a spike in the price of coal and petcoke could have negative consequences

Government efforts to build infrastructure will continue to be strong. Demand will increase this fiscal year by 8–9% on top of a 9% gain in FY22, which will aid in the sector's return to profitability, according to research. According to India Ratings, which has a neutral outlook for the sector for the year, the sector will remain strong despite the substantial investment pipeline thanks to a recovery in profitability despite inflationary pressure and stable balance sheets. According to the agency, demand would increase by 8–9% in FY24 compared to a projected 9% increase in FY23, giving the industry a five-year compounded annual growth rate of 4.5%. Even though the industry is anticipated to raise prices only by a small percentage, softening gasoline costs will help operational margins recover. The agency anticipates operating margins to increase to Rs 950–1,000/MT in FY24 as a result of falling fuel and power prices. However, a spike in the price of coal and petcoke could have negative consequences

Next Story
Technology

BBMP Pledges Faster E-Khata Processing Amid Citizen Complaints

Facing mounting complaints over delays in e-khata issuance, the Bruhat Bengaluru Mahanagara Palike (BBMP) has promised to resolve the issue within 10 days. BBMP Chief Commissioner Tushar Giri Nath assured citizens that efforts are underway to expedite processing rates from the current 2,000 to a target of 10,000–15,000 applications daily. "We have cleared 90% of the 90,000 pending applications, leaving only 4,500 to process. To meet the demand, over 800 additional staff and assistant revenue officers (AROs) have been deployed to manage applications in each ward," Nath stated. Persistent Dela..

Next Story
Real Estate

Delhi HC Orders DDA to Assist CBI in Housing Lapses Probe

The Delhi High Court has instructed the Delhi Development Authority (DDA) to fully cooperate with the Central Bureau of Investigation (CBI) in its probe into alleged lapses in the construction of 336 high-rise HIG/MIG houses at Signature View Apartments, north Delhi. Justice Chandra Dhari Singh emphasized that DDA must furnish information about any internal inquiry and the officials involved to facilitate the investigation. The court noted CBI’s submission that DDA had not responded to multiple reminders since July, delaying the probe. The CBI is investigating allegations of "cheating, crimi..

Next Story
Infrastructure Urban

Mahindra Lifespace to Appeal Tamil Nadu GST Tax Demand

Mahindra Lifespace Developers Ltd has announced a tax demand of Rs 20.9 million imposed by the Tamil Nadu GST department, including interest and penalties. The order, issued by the Assistant Commissioner of State Tax, Chengalpattu, cites an alleged shortfall in GST payments under Section 74 of the GST Act, 2017. The realty firm refuted the allegations, stating, “Based on the company's assessment, there is no noncompliance, and a general penalty has been imposed.” The company plans to appeal the order, expressing confidence in a favorable resolution. Mahindra Lifespace assured stakeholders ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000