India: companies mulling price hikes
After a price hike of INR10-30 per 50kg bag a few weeks ago, the cement companies are planning to increase prices again in the next few days.
This time the cement firms are mulling to increase the prices by around INR5 to INR25 per 50 kg bag, sources said.
Owing to monsoon, poor offtake from construction majors and shrinking demand from government projects of different states, the cement companies have decided to go for another round of price hike to offset a possible hit in their profit margins.
The companies claimed to have lost nearly INR700/t in gross realisation over the last few months owing to a huge addition of around 40 to 50Mt capacity in the last one year or so which in turn impacted their quarter earnings and even led to losses. Published under Cement News
