Cement sales volume to grow around 10% in FY24
Cement

Cement sales volume to grow around 10% in FY24

The cement industry in India is poised for substantial growth, with expectations of a 9 to 10 percent increase in sales volume during the current fiscal year, largely driven by robust demand emanating from the infrastructure and urban housing sectors. According to a report by the rating agency Icra, the industry enjoyed a commendable volume growth of approximately 12 percent during the first half of this fiscal year, spanning April to September.

However, the report notes that there may be a degree of growth moderation in the second half of the fiscal year. This adjustment is attributed to the impact of below-normal monsoons, which have adversely affected crop yields and, consequently, rural incomes. Consequently, demand for rural housing in certain regions may experience a downturn.

Furthermore, the report highlights the potential for the forthcoming state elections to lead to a slowdown in the allocation of funds for ongoing infrastructure projects. This, in turn, could introduce some downside risks to cement volume off-take in the latter part of the fiscal year 2023-24. Nevertheless, the overall outlook for the Indian cement industry remains positive, driven by the sustained momentum in the infrastructure and urban housing sectors.

The cement industry in India is poised for substantial growth, with expectations of a 9 to 10 percent increase in sales volume during the current fiscal year, largely driven by robust demand emanating from the infrastructure and urban housing sectors. According to a report by the rating agency Icra, the industry enjoyed a commendable volume growth of approximately 12 percent during the first half of this fiscal year, spanning April to September. However, the report notes that there may be a degree of growth moderation in the second half of the fiscal year. This adjustment is attributed to the impact of below-normal monsoons, which have adversely affected crop yields and, consequently, rural incomes. Consequently, demand for rural housing in certain regions may experience a downturn. Furthermore, the report highlights the potential for the forthcoming state elections to lead to a slowdown in the allocation of funds for ongoing infrastructure projects. This, in turn, could introduce some downside risks to cement volume off-take in the latter part of the fiscal year 2023-24. Nevertheless, the overall outlook for the Indian cement industry remains positive, driven by the sustained momentum in the infrastructure and urban housing sectors.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code