Top listed cement companies' margins, profits lowest in a decade

The industry's combined quarterly earnings in Q2FY23 were the lowest since July-September 2013

The entry of Adani Group into cement has come at a tough time for the industry. The combined net profits of the country’s top listed cement companies declined to nearly a decadal low in the July-September 2022 quarter (Q2FY23).

The cement makers’ margins and earnings hit a record low in Q2FY23 due to a mix of high operating costs and lower than expected volume growth during the quarter.

The combined net profit of the country’s 10 biggest cement makers (adjusted for exceptional gains and losses), including UltraTech Cement, Shree Cement, and India Cement, besides ACC and Ambuja Cements, is Rs