 "cement, construction, infrastructure, realty")
The demand for cement slowed in the third quarter of financial year 2023-24 (Q3FY24) and prices began to moderate in November and continued to ease down in December and January.
However, low fuel and raw material (RM) prices meant that cement manufacturers enjoyed good margins even though prices dipped.
The slowdown was partly attributed to state elections that led to a freeze on construction activity. However, Q4FY24 could see some rebound in construction in pre-election spending, with a moderation again in Q1FY25, given the upcoming general elections in April-May. Assuming RM and fuel prices stay low, Ebitda (earnings before interest,
