Demand for cement to improve over next 12-18 months

15 Feb 2023 CW Team

India’s infrastructure-led investments and mass residential projects will drive up the demand for cement and other building materials over the next 12-18 months, Moody’s Investors Services said in a report.

According to rating agency, India’s cement production will climb by around 6-8% over fiscal years 2023 and 2024, following a 21% jump for the fiscal year ended March 2022.

However the industry is unlikely to enjoy unusually high profits as it did in fiscal 2022, it added.

“A growing housing sector, which typically accounts for 60%-65% of India’s cement consumption, will remain a key demand driver. Also, continued large investments in roads and infrastructure projects will fuel cement demand," Moody’s said.

“India built 12,000 kilometers of highways in 2022 alone and this momentum will likely continue in 2023 and 2024, supported by various government initiatives," it added.

Furthermore, in the Union Budget 2023-24, the government has allocated $1.8 billion for the creation of safe housing, clean drinking water and sanitation, and increasing road and telecom connectivity, among other initiatives.

The government has also allocated $9.6 billion to address urban housing shortages, the credit rating agency said.

Moody’s said that while the outlook looks promising for the cement sector, for most of the current financial year, companies have seen their profitability take a hit on rising costs of pet coke, coal and diesel.

“A sequential, quarter-on-quarter decline in these costs will prevent a further sharp decline in profitability, although a return to the unusually high profits cement producers enjoyed in fiscal 2022 is highly unlikely," it added.

Also Read
Families to relocate in phase II development of Noida airport
HAL gets approval for indigenously developed 'black boxes'

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..