Economy & Market

Andhra Pradesh asks cement companies to drop prices

Published

8 years ago

April 24, 2017

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A Group of Ministers (GoM), constituted by the Andhra Pradesh government to look into the issue of rising cement prices has held talks with representatives of various cement companies. The government has directed cement companies to slash prices "immediately", but these firms have said that they would "revert on the issue" in two days.

According to the cement companies, they would face an approximate tax incidence of around Rs 40 per bag after the new Goods and Services Tax (GST) comes into force. But the GoM does not want the cement companies to hike prices before the new tax regime is rolled out.

The Andhra Pradesh government is now arguing that it already gives the state’s cement companies "many concessions and benefits", so the GoM has maintained that the cement firms cannot hike prices unilaterally, placing a burden on the common man.

Concrete

Shree Cement reports 2025 financial year results

Published

4 days ago

June 17, 2025

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Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

4 days ago

June 17, 2025

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Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

4 days ago

June 17, 2025

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According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/