Archive · 19 May 2025
Cement Makers See Volume Growth in Q4, Expect FY26 Momentum
Big cement companies like UltraTech and Ambuja are selling more cement than before!
They did well in the start of 2025 and think things will get better this year.
They are building more because of government projects and people in the country buying more.
Even though they sold more cement, the prices went down a little, so they didn't make as much money per bag.
They are hoping to make more money by selling more cement, the cost of making cement is cheaper, and by possibly making cement prices a little bit higher.
Major cement companies like UltraTech, Ambuja Cements, and Shree Cement reported volume growth in the March 2025 quarter.
The cement industry anticipates 6.5-7.5% growth in FY26, driven by government spending and rural recovery.
Despite volume growth, companies faced challenges due to lower sales realization.
UltraTech achieved its highest sales volume of 135.83 million metric tonnes in FY25.
The average cement price was around Rs 350 per 50 kg bag in March 2025, with prices declining year-on-year.
- Who
- Major cement companies including UltraTech Cement, Ambuja Cements, and Shree Cement.
- What
- Major cement makers reported volume growth in the March 2025 quarter and are expecting enhanced performance in FY26.
- When
- March 2025 quarter and FY26
- Where
- India
- Why
- Driven by government infrastructure spending, rural recovery, and expansions, despite lower sales realization.
Positive Outlook
Concerns
External Challenges
Positive Outlook
Focus on government infrastructure projects, rural recovery and real estate momentum
Concerns
Geopolitical tensions and changing trade landscape pose risks
- Companies Reporting Volume Growth
- UltraTech Cement, Ambuja Cements, Shree Cement, Dalmia Bharat
- Industry Growth Projection FY26
- 6.5-7.5%
- UltraTech Q4 Volume
- 41.02 Million Tonnes (MT)
- Ambuja Cements Q4 Sales
- 18.7 million tonnes
- Shree Cements Q4 Sales Volume
- 9.84 million tonnes
- Average Cement Price (March 2025)
- Rs 350 per 50 kg bag
