Cement sector volume up 13.6% till January this fiscal

Cement sector volume up 13.6% till January this fiscal
30/03/2019 , by , in ALLIED

India’s cement industry saw a 13.6% year-on-year increase in volume to 275.7 million metric tonnes in the first ten months of the current fiscal, driven largely by rural and affordable housing, according to a report by credit rating agency ICRA.

The growth was almost double the 7% increase forecast by the agency.

However, ICRA said that the sharp increase is unlikely to translate into any meaningful profit growth or improved margins during the year owing to the inability of the industry to secure any significant price increases and because producers have been subjected to cost pressures for much of the year.

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