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Chart of the week: Cement prices decline for third month in a row

7 Feb 2024 , 12:51 PM

Analysts at IIFL Securities undertake monthly dealers’ check to summarize pricing actions.

All India average cement price fell for third consecutive month, down 2.3% in January 2024 versus December 2023 or by ₹8 per 50-kg bag. Large part of these price cuts took place in the first half of January 2024. Prices fell across all regions with highest decline seen in Southern region (~4.5% MoM), followed by East and Central (2.5-3%); and least decline in West and North India (down ~1% MoM).

In Q4 so far (till February 5, 2024), all-India average price is 4% lower than Q3 average price. Analysts at IIFL Securities believe that if companies are unable to increase prices in coming weeks, it would risk Q4 profitability despite lower fuel costs and increasing operating leverage. This is a key monitorable in the coming weeks.

Cement price summary

Avg. price per 50-kg bag (₹)SouthEastNorthWestCentralAll-India
Q4FY23333327345371326340
Q3FY24351349366380334356
Q4FY24- QTD328323358373324341
QoQ change (%)(6.6)(7.4)(2.3)(1.8)(3.1)(4.2)
YoY change (%)(1.4)(1.1)3.60.5(0.7)0.2

 

All-India average cement prices fell 2.3% in Jan-2024

Related Tags

  • Cement
  • cement prices
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