Since the Union Budget’s presentation in end-February, Indian cement companies have accelerated price increases. Last fortnight prices across India witnessed an average increase of, with the price of a 50kg bag of cement set to hit INR300 soon.
Currently, the all-India cement price is INR290 compared to INR255/bag two years earlier. The first three quarters of the current financial year have seen companies reporting lower financial results. In the second quarter, which was affected by the monsoon, several regional cement makers slipped into the red, reporting operational losses.