Cement sector exits Q4 with flat prices

31 Mar 2023 CW Team

For cement firms, the March quarter (Q4FY23) was a washout in terms of cement price movement. Elara Securities (India) Pvt. Ltd.'s most recent dealers channel check revealed that the average retail price throughout all of India fell by $8 per 50 kg bag on a monthly basis to $371 in March. As a result, the average cement price throughout all of India is predicted to increase by about 2% on a yearly basis but may essentially stay steady in Q4FY23.

According to the Elara report dated 28 March, attempts at price increases have been unsuccessful because of the volume push, lower-than-expected demand, and greater discount offerings.

Unseasonal rainfall and a labour shortage in some regions also had an adverse effect on construction activities and the demand for cement.

Investors should prepare for muted sequential realisations increase in the upcoming quarterly earnings as a result.

According to region, the price per bag decreased by 5 in central India, then in the north, west, east, and south. The monthly decline in South India was the largest at Rs. 10 per bag. Prices in this region have been trending downward for a while, primarily due to fierce rivalry for market share. While the June quarter is typically good for the cement industry, an increase in prices is anticipated in April.

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