Historically, the drivers of cement volumes have been infrastructure, construction and real estate activities. Cement volume growth shows a varying correlation with each of these segments.

According to a few analysts and industry watchers, the hikes in the prices of cement by various cement manufacturers are an indication of a possible growth in volumes and probable profitable for cement makers during the current quarter.

Cement production would have shrunk in the March quarter primarily due to the base effect coupled with the note-ban-induced cash crunch and polls in many states during the period, says a report. “The lagged impact of cash crunch and state polls will take a toll on cement production in Q4. Latest data showed cement volumes in February 2017 declined the most in over a decade by 15.8 per cent y-o-y. Volumes also declined by 5 per cent on (a) month-on-month basis,” says an India Ratings report.

The Indian construction sector will remain stable in the next financial year, with a increase in revenue and improvement in earnings, according to ratings agency, India Ratings & Research (Ind-Ra).

The Indian construction sector will remain stable in the next financial year, with a “slow but steady” increase in revenue and improvement in earnings, according to ratings agency, India Ratings & Research (Ind-Ra).

India Ratings and Research has maintained a stable outlook on cement manufacturers for financial year 2017-18 due to stable demand growth, despite an increase in input cost. The rating agency also expects cement prices to go up during FY 2017-18 on stable demand.

Though the industry as a whole has been able to bear the brunt of demonetisation, the quarter was impacted by uncertainty and higher input prices, and most players may report volume decline and flat realisations. We take a look at the performance of a few key players and analyst predictions on the road ahead.

Shree Cement Ltd, one of India´s leading cement manufacturers, has won the prestigious ´Excellence Award Under Cement Industry´ (SCALE) given out by CII on December 16, at New Delhi.

Cement producers will be hit by the country’s demonetisation programme and higher pet coke prices, according to ratings agency, India Ratings and Research (Ind-Ra).