A recent report by IDBI Capital states that the cement sector has seen a consistent MoM price hike, for four months consecutively. The average price on all India level increased by 2 per cent MoM in May 2021. The highest price hike was observed in the East region followed by the south region. North and West regions remained low/flat. According to the report, although cement production in India has been increased by 33 per cent YoY, the cement volumes are still lower in March 2021 versus March 2019, which the dealers attributed to the lockdown. Over the last four months, the average cement price has increased by 8 per cent versus the exit price of Feb-21. Overall, in FY21 all India cement production stood at -12 per cent YoY.
