Archive · 12 Aug 2025
Cement Companies Report Strong Growth, Expect Recovery
Cement companies did well in the first part of the year, selling more cement for higher prices.
This was helped by good demand and lower costs.
Even though the rainy season slowed things down a bit, prices mostly stayed the same or even went up in some places.
Experts think the cement business will get better in the second half of the year because of more building projects and cheaper costs.
Companies like UltraTech and Ambuja are expected to do especially well.
Cement companies saw solid growth in the June quarter due to higher prices and volume.
Volume growth was strong, with Ambuja leading at 16.5%, while Shree Cement declined 7.2%.
EBITDA per tonne increased sharply, supported by lower operating costs.
Monsoon slowed demand in August 2025, but prices held steady or rose in some regions.
A recovery is expected in H2, driven by infrastructure, urban housing, and stable input costs.
- Who
- Cement companies like Ambuja, UltraTech, and Shree Cement.
- What
- Cement companies experienced solid growth with higher realizations and volume, but faced seasonal slowdown.
- When
- The June quarter and August 2025 were key periods.
- Where
- Across India, with regional variations in price and demand.
- Why
- Driven by price hikes, volume growth, and cost reduction, with expectations for infrastructure and housing to boost the second half.
- Key Driver of Growth
- Higher Realizations & Volume Growth
- EBITDA per tonne
- Up 35% YoY, 17.8% sequentially
- August 2025 All-India Price
- Rs 360 per bag
- Volume Growth Leaders
- Ambuja (16.5%), UltraTech (15.3%)
- H2 FY26 Volume Growth Forecast
- 7-8%
- Top Picks
- Ultratech and Ambuja
