Indian cement prices are expected to recover after the monsoon ends due to a likely pick-up in construction activity. Sales during the wet season have also been hit on account of rising input costs.
Most of the cement companies were unable to pass on the price hike to its customers. The despatches in South India also suffered due to trucker’s strike.
Speaking to CNBC-TV18, Ashish Guha, MD and CEO of Heidelberg Cement India said, the company plans a significant hike in prices post the monsoons. "We have been trying to increase our prices because of the cost increase but have not been able to do so," he said adding, "high raw material costs, price correction hurting margins."