Major cement companies report volume growth in Q1, revenue remains muted
Leading cement manufacturers reported single-digit volume growth in the June quarter, though their topline was muted on account of the continued downtrend in the price.
Listed manufacturers such as UltraTech, Ambuja Cements, ACC, Shree Cements, and Dalmia Bharat - in their latest quarter earnings reported gains in volumes, ranging from 3 to 9 per cent and increase in capacity utilisation.
However, soft cement prices have put their topline under pressure in the April-June period. Besides, raw material costs went up marginally due to an increase in the cost of fly ash and slag.
The all-India average cement price was at around Rs 348 per 50 kg bag in June 2024, down around 3 per cent year-on-year. However, this was higher when compared to Rs 335 per bag in May 2024.
For the first two months of FY25, the average cement price was at Rs 340 per bag, down 8 per cent YoY. In FY24, the average price was Rs 365 per bag and Rs 375 per bag in FY23, according to the report.
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