Top 5 cement makers adopt different strategies amid Q3 earnings slump

For the October-December 2024 period, analysts and industry executives estimated demand growth of 4-5 per cent at the industry level

The top five cement makers took a common hit on earnings in the third quarter (Q3) of 2024-25 (FY25). However, the volume trend for these five companies was a mixed bag, as each focused on different strategies.

 

For the October-December FY25 period, analysts and industry executives pegged demand growth of 4-5 per cent at the industry level. This growth, however, played out differently for each of the top five cement makers. UltraTech Cement, for instance, reported a 10 per cent rise in volumes from a year ago. Its closest competitor, Ambuja Cements, reported a 17 per cent growth in the