Cement firms stop revealing sales figures
As an immediate implication of Competition Commission of India (CCI) order of a hefty penalty of Rs 6,300 crore last month, Indian cement makers have stopped sharing their sales statistics with the industry body, Cement Manufacturers' Association (CMA).
Sources told a business newspaper that Aditya Birla group's UltraTech, Jaiprakash Associates, Shree Cements, India Cements and Madras Cements among others have not yet provided their production and dispatches number for June. Normally, by 10th of every month CMA publishes sector's monthly numbers on its website but this time it has not.
All those companies whose name emerged in the CCI order have abstained from sharing their monthly statistics and others too have followed the same, confirmed an official from CMA.
Swiss major Holcim's Indian companies - ACC and Ambuja Cements, were the first one to disassociate themselves from CMA back in 2009. Since then, they have been providing their statistics to the stock exchanges. Interestingly, both these companies were also in CCI's defaulters' list.
In its 20th June order, CCI had said that the cement makers should 'cease and desist' from indulging in any activity relating to agreement, understanding or arrangement on prices, production and supply of cement in the market. Further, it had stated that CMA should disengage and disassociate itself from collecting wholesale and retail prices through the member cement companies and also from circulating the details on production and dispatches of cement companies to its members.