Cement firms report strong volume growth amidst realisation challenges

24 Aug 2023 CW Team

Cement companies experienced robust double-digit volume growth in the previous quarter due to strong domestic demand, according to data from 42 firms. Despite this, limited improvement in realisations and higher-than-expected raw material costs resulted in a mixed performance. Net profit for the quarter improved by 5.8% year-on-year (y-o-y), but declined 12% sequentially. The year-on-year profit before interest and tax increased by 14.4%, while sequentially it declined by 7.5%. Realisations dropped by 1% sequentially on average, impacting operating performance despite the volume growth. Average cement prices per 50kg bag also saw a decline. Cement companies' performance slightly missed expectations due to stagnant profitability and lower-than-anticipated cost reductions. While the average Ebitda per tonne improved slightly, it was still lower by 7.8% compared to the previous year.

Challenges persist in the current quarter as construction activities slow down post-monsoon. Analysts highlight the importance of cement price stabilisation for future earnings support. Despite the obstacles, analysts remain positive about strong volume growth in the upcoming fiscal year and closely monitor cement price trends for future developments. The correction in blended fuel costs provides a potential support factor for manufacturers' earnings.

Real Estate

06 Apr 2026

MAIA Estates Launches ‘The Seven’ in South Bengaluru

MAIA Estates has recently announced the launch of ‘The Seven’, a premium residential development in Basavanagudi, South Bengaluru. The project comprises twin towers across a 3.67-acre site, offering 128 exclusive 4 BHK+ residences spread over 36 storeys, with a total saleable area of around 6,00,000 sq ft. Completion is targeted by 2029.Developed under a joint development agreement, the project is backed by Rs 1.2 billion in institutional funding from Arnya Real Estate Fund – Debt. The launch marks the company’s entry into South Bengaluru, a micro-market characterised by limited premiu..

Hindustan Zinc Reports Record FY26 Production

Hindustan Zinc Limited recently reported its production performance for the fourth quarter and financial year ended March 31, 2026, recording its highest-ever output across key segments.Mined metal production reached a record 315 kt in 4QFY26 and 1,114 kt for FY26, supported by higher ore output and improved grades. Refined metal output stood at 282 kt for the quarter, driven by capacity enhancements at Chanderiya and Dariba, alongside improved operational efficiency.Refined zinc production rose to 851 kt in FY26, up 3 per cent year-on-year, supported by debottlenecking projects and expanded r..

CFI Appoints New National Council for FY27 and FY28

The Construction Federation of India (CFI) has announced its newly elected National Council and office bearers for a two-year term covering FY27 and FY28. M. V. Satish, Advisor to CMD and Lead Ambassador for Middle East, L&T, has been elected President; Priti Patel, Chief Strategy & Growth Officer, Tata Projects, has been appointed Vice President; and Ajit Bhate, Managing Director, Precast India Infrastructures, has taken charge as Treasurer.The newly formed National Council brings together senior leaders from major EPC and infrastructure companies, reflecting CFI’s continued focus o..