Cement industry to witness 18-20% volume growth in FY22: Report

24 Mar 2022 CW Team

According to a report, the cement industry might witness 18-20% volume-based growth and exceed pre-Covid-19 levels by 6% in the current fiscal year.

Investment Information and Credit Rating Agency (ICRA) said that the high input costs on account of inflationary pressure resulted in a decline in operating margins by 440-480 basis points (bp) to around 19.8-20.2% in FY22.

For FY22, ICRA expects 18-20% volume-based growth to around 355 million metric tonnes (mt), which will surpass the pre-Covid levels by 6%, driven by robust rural housing demand and pick-up in infrastructure activity.

Assistant Vice President (AVP) and Sector Head of IRCA, Anupama Reddy, told the media that despite the increase in the net sales by 5%, the Operating Profit Before Interest, Taxes, Depreciation and Amortisation (OPBITDA) per metric tonne declined by 10% year-on-year (YoY) in the first nine months of FY22 to Rs 1,124.

She said that it is primarily due to increasing input costs, the raw material, power and fuel and freight expenses which are higher by 12%, 31% and 5% YoY, respectively. For 2022, the continued elevated costs would push down the OPBITDA per mt by 16-18% to Rs 1,030-1,050 per mt.

As per the report, all-India cement production witnessed 25% growth at 290 million mt in the first ten months of FY22, compared to the same period a year ago. It was up by 4%, compared to pre-Covid-19 pandemic levels of ten months of FY20.

Image Source

Also read: Paving the way for a carbon-negative cement industry

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..