The August prices are currently around 3-6 per cent above July 2024 but may not be sustainable in the face of weak demand. H2FY25 may see realisation growth which, if it happens, would drive average operating profit/tonne improvements in H2FY25 over a muted H1FY25.
The industry continues to see consolidation and the top five will gain aggregate market share due to large capex. This could lead to more pricing power.
Cement prices corrected Mo-M from November 23 to July 24 due to higher competition and slow demand. All-India average cement price was down 13 per cent in July 24 from a peak in October 24, and average realisation for major players was down 8 per cent in Q1FY25 compared to Q3FY24. In South India, prices hit decadal lows. In this backdrop, sustaining price hikes is hard. But industry-watchers believe that another hike may be on the cards, as players try to shore up earnings.
This story is from the September 03, 2024 edition of Business Standard.
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This story is from the September 03, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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