Crisil report suggests that the cement prices may witness a decline of 1-3 per cent in the current fiscal year, despite the presence of a strong demand. The report also mentioned that the prices of cement had been steadily increasing over the past four years, with a compound annual growth rate (CAGR) of 4 per cent. This led to a record high price of Rs 391 per 50 kg bag in the previous fiscal year. The Crisil report emphasised the growing competitiveness within the industry. Since the beginning of 2023, there has been a moderation in cement prices, which can be attributed to the gradual decrease in energy costs and the efforts of manufacturers to capture a larger market share in the seasonally strong fourth quarter. Even though carrying high-cost inventory, the average prices of cement decreased by 1 per cent to Rs 388 per bag during the fourth quarter of the previous fiscal year. However, when compared to the previous year, the prices remained elevated.