ICRA forecasts 18-20% Indian cement sales volume growth in 2022

The Indian cement industry's sales volumes have been estimated to rise by 18-20 per cent year-on-year in the FY22 and surpass FY20’s pre-covid-19 outbreak levels by 6 per cent, according to ICRA. In the first nine months of the 2022 financial year, fuel and electricity costs rose by 31 per cent, raw materials costs by 12 per cent and logistics costs by 5 per cent. This offset a 5 per cent net sales rise resulting in an operating profit before interest, taxes, depreciation and amortisation (OPBITDA) per tonne of cement of $14.70, down by 10 per cent year-on-year. ICRA forecast a further decline in full-year OPBITDA per tonne of 16-18 per cent to $13.50-13.80 per tonne in the FY22.

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