The Indian cement sector in FY26–FY27 will benefit from sustained infrastructure spending, healthy rural demand, lower tax rates, and a bullish capacity addition pipeline. Despite seasonal dips, the medium-term view points to stable pricing, resilient earnings, and robust investment opportunities for investors aligned with India's growth vision.
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We remain positive on the dynamics of the cement industry based on the following factors:
With large capex planned by FY27-28 and 100+ million tonnes per annum of new grinding capacity, India's cement industry is set for a major expansion, boosting capacity and supply chain efficiency.
With demand projected to rise 6–8% CAGR over the next two years, fueled by infrastructure, housing, and commercial real estate, strong government spending through FY26–FY27 will further support volume growth.
Industry consolidation, cost efficiencies, and operational improvements are set to boost margins over the medium term, even with seasonal fluctuations.
Lower GST, increased infrastructure spending, and a revival in realty and rural housing create a favourable backdrop for long-term profits.
The Indian cement sector in FY26–FY27 will benefit from sustained infrastructure spending, healthy rural demand, lower tax rates, and a bullish capacity addition pipeline. Despite seasonal dips, the medium-term view points to stable pricing, resilient earnings, and robust investment opportunities for investors aligned with India's growth vision.
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