Cement Sector

Cement majors post double-digit volume growth in Q3, eye price recovery

Leading cement makers reported strong double-digit year-on-year growth in sales volumes during the December 2025 quarter, even as their realisations came under pressure. The companies remain optimistic of further improvement in demand and prices in the coming months, aided by benign inflation, supportive tax rationalisation measures and healthy infrastructure-led growth. Industry leaders, including UltraTech, Ambuja Cements, Shree Cement, Dalmia Bharat, JK Lakshmi Cement and JSW Cement, saw higher capacity utilisation and expansion in volumes. However, overall profitability was impacted by rising input costs, provisions under new labour codes and elevated prices of pet coke and coal. Despite these challenges, toplines were supported by premiumisation, improved product mix and higher non-trade sales. Apart from grey cement, companies also reported robust growth in their Ready Mix Concrete (RMC) business, which registered high double-digit expansion. Leading cement maker UltraTech .

Ambuja Cements' Q3 profit declines 90% due to high base, one-offs

Ambuja Cements' reported Q3 profit plunged due to one-time income and tax credit in the year-ago quarter, even as normalised profit and volumes rose sharply

JK Cement surges 5% on strong volume growth, upbeat brokerage views

In its latest note, Choice Institutional Equities reaffirmed its 'Buy' rating on JK Cement, assigning a target price of ₹7,200, implying major upside from prevailing levels.

Q3FY26 Cement Preview: Axis Sec sees volume, revenue growth on weak pricing

Cement companies are expected to report robust topline and volume growth amid weak pricing power during the third-quarter of the financial year 2026

Indian cement firms most exposed to CBAM risk: World Economic Forum

The study, which examines corporate readiness in Brazil, China, India and South Africa for CBAM, finds no evidence so far of broad competitiveness losses for exporters from these economies

Near-term margins for cement companies to remain under pressure

Weak Q3 pricing persists despite Y-o-Y profit gains, as aggressive capacity expansion overshadows near-term demand

Ambuja, NCL, India Cements seen favourably placed on charts; eye 13% upside

The price-to-moving averages hints at a favourable trend for India Cements; similarly, select technical factors augur well for cement stocks such as Ambuja Cements, Ramco Cements and NCL Industries.

Top cement companies post strong Q2 on better realisations, volumes

Low base, premium mix and new capacity supported gains

Sagar Cements falls 4% after Q2 results; weak QoQ numbers weigh on stock

Sagar Cements reported consolidated revenue from operations of ₹601.86 crore, up 27 per cent from ₹475.12 crore in the year-ago period.

Nuvoco Vistas posts ₹36.43 cr profit in Q2 FY26 amid product premiumisation

Nirma Group-owned cement maker reports record Q2 Ebitda of ₹371 crore and 44% share of premium products, reversing last year's loss of ₹85.17 crore

Cement sector set for H2FY26 upswing; JK Cement tops Nuvama's picks

While monsoons and consumption deferrals following the GST rationalisation impacted demand in Sep'25, prices largely held firm, signalling resilience in the sector, Nuvama analysts said

Cement sector operating profit to rise 12-18% in FY26, says Icra

Icra expects cement companies' FY26 operating profit to reach Rs 900-950 per tonne, with healthy demand, better realisations and GST cuts driving growth despite global crude risks

4 reasons HDFC Securities recommends 'Add' on JK Cement, raises target

JK Cement share price today: On the bourses, JK Cement share price rose up to 1.21 per cent to an intraday high of ₹6,660 per share.

GST cut to lift cement demand, margins; UltraTech, Nuvoco among top picks

GST Council has approved a reduction in rates on cement from 28 per cent to 18 per cent, effective September 22, 2025

Why is JM Financial bullish on UltraTech, JK Cement? All details here

JM Financial Institutional Securities has picked UltraTech Cement and JK Cement as its top picks in the cement sector; here's why

Star Cement hits record high, stock zooms 44% in 2 months; here's why

Star Cement stock hit a record high of ₹308.10, gaining 4% on the BSE in Tuesday's intra-day trade, surpassing its previous high of ₹299.80 touched on August 13, 2025.

Higher sales realisation, volume growth boost cement firms' earnings in Q1

Driven by increased government spending on key infrastructure projects, leading cement manufacturers reported a solid performance in the June quarter with a double-digit volume growth and higher sales realisation. Cement makers expect the trend of an overall improvement to continue in FY26. Moreover, lower input costs, such as a decline in coal and petcoke prices, along with stable diesel costs, also helped in improvement on EBITDA terms, which faced a rough patch in FY25. Leading cement maker UltraTech Cement reported a volume growth of 9.7 per cent to 36.83 million tonnes (MT), helped by acquisitions of India Cements and the cement business of Kesoram Industries. Similarly, Adani Group firm Ambuja Cements also reported its highest-ever cement sales volume of 18.4 MT and its highest-ever quarterly revenue at Rs 10,000 crore. Sales volume of Birla Corporation rose 9.36 per cent to 4.79 MT, and Nirma Group firm Nuvoco Vistas Corp reported a sales volume of 5.1 MMT in Q1. JK Lakshm

Ramco Cements tanks after mixed Q1; opportunity or red flag? Find out here

At 10:41 AM, the stock was trading 5.38 per cent lower at ₹1,075, underperforming the broader BSE Sensex, which was down 0.54 per cent at 80,188.05.

Shree Cement Q1: Profit nearly doubles, analysts stay cautiously optimistic

Brokerages offered a mixed yet constructive view on Shree Cement 's Q1 performance, highlighting improved realisations, expanding margins, and long-term growth plans.

UltraTech Cement gets target upgrades on solid Q1 show, integration wins

UltraTech Cement's consolidated net sales rose 13 per cent year-on-year (Y-o-Y) to ₹21,040 crore, up from ₹18,626 crore in the corresponding period last year.