Indian cement makers count on price hikes to boost profits
India's cement makers are counting on recent price hikes and a pick-up in construction to help them bounce back after a rough start to the year.
With costs climbing, they've raised prices by ₹15 to ₹20 per 50-kg bag since late September, hoping this will boost profits as building activity ramps up.
Cement executives optimistic on price stability
Dalmia Bharat's managing director, Puneet Dalmia, is feeling positive about prices staying steady, which could help offset rising expenses.
Thanks to mild monsoons, construction stayed active even in the usually slow September quarter.
UltraTech's chief financial officer, Atul Daga, expects prices might improve further soon, while Nuvoco Vistas's Corp managing director Jayakumar Krishnaswamy thinks holding onto these hikes should mean better profits as demand grows post-Diwali.