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When Volumes Matter

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The fourth quarter of the last financial year was a washout for the cement sector as prices dipped across the country. From a drop of Rs.5 per bag in central India to a drastic cut of Rs.10 per bag in Gujarat, the flat trend of the last few months can be attributed to unseasonal rains and low labour availability affecting construction activities. Volume push, fall in demand and increased discount offerings are other factors that have affected attempts of price hikes. But fast recovery is expected in the June quarter as demand picks up amid seasonal recovery.

Another reason for the cement sector to recover on the price front is the upcoming elections. With elections scheduled in 2024, the government is accelerating all of its housing and infrastructure initiatives, thereby spurring the demand for cement. Cement companies are definitely bullish about growth and the Indian cement industry is likely to witness a fresh capacity increase of 145 MT-155 MT amounting to a capex of Rs.1.2 lakh crore by FY27. A report by CRISIL confirms that demand for cement will remain buoyed at a CAGR of 6-7 per cent over the forecast period. The addition of 145 MT-155 MT to the already existing capacity of 570 MT will further consolidate India’s position as the second largest cement producer in the world.

Cement is an important component of revenue for the state governments and this point has been underscored by the recent impasse in Himachal Pradesh where the Ambuja and ACC plants had been shut down for over two months over the disagreement over freight charged by the 6,500 truckers. The state government was losing Rs.60 cr to Rs.80 cr per day in electricity, VAT and GST. A GST cut from 28 per cent to 18 per cent would reduce GST revenues by Rs.13,000 cr annually. However, if this reduction in price is passed on to the consumers, a higher demand could reduce the reduction in revenue. Finally, the impasse was resolved with the intervention of Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu. Himachal Pradesh truckers, agreed to a lower freight rate after the company assured them of additional volumes from neighbouring states.

Another trend that is emerging with regards to adding fresh capacity is the logistics-oriented approach. Many cement companies are preferring to install their new grinding units near the distribution centres for freight cost rationalisation. This will also boost the attempts to decarbonise cement. Further, initiatives such as the launch of LNG trucks by Dalmia Cement (Bharat) for transportation of raw materials and bagged cement is helping build a green supply chain for cement. Decarbonisation is taking place in every step of the supply chain, and India is definitely a trailblazer in green initiatives in the cement sector.

Concrete

Ramco Cements Campaign Wins Six Kyoorius Honours

Hard Worker campaign wins Grand Prix for Eco Plaster film

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The Ramco Cements Limited’s Hard Worker campaign has achieved a major milestone at the prestigious Kyoorius Creative Awards, winning six honours including the coveted Grey Elephant Grand Prix for the Eco Plaster film. The awards were announced and presented at the Kyoorius Creative Awards Night 2026 held on 23rd May 2026 at the Jio World Convention Centre, Mumbai.

Competing alongside some of the country’s leading brands and agencies, the campaign received recognition across multiple creative categories, reaffirming the power of authentic storytelling rooted in the lives of hardworking people. The Eco Plaster commercial, which highlighted the importance of water conservation through innovative construction solutions, emerged as the campaign’s biggest winner, securing most of the honours.

The campaign’s wins include: 
Grey Elephant (Grand Prix) – Eco Plaster 
Blue Elephant – Best Film – Eco Plaster
Blue Elephant – Best Direction – Eco Plaster
Blue Elephant – Best Music – Eco Plaster
Baby Elephant – Best Direction -Tortoise & Hare
Baby Elephant – Best Use of Humour – Eco Plaster

Established in 2014, the Kyoorius Creative Awards recognise and celebrate creative excellence across India’s advertising, marketing and communications industries. Presented by Zee Entertainment Enterprises and powered by the USA-based The Clio Awards, the awards are regarded among the country’s most respected creative honours.

Known for their ethical and neutral judging process, the Kyoorius Creative Awards evaluate work purely on merit through a non-hierarchical awards structure, without Gold, Silver or Bronze distinctions. The iconic Elephant symbolises memorable work that leaves a lasting impact on the industry.

The Hard Worker campaign by The Ramco Cements Limited was conceived around the insight that true strength and progress are built through everyday hard work. Through emotionally resonant storytelling, distinctive craft and culturally rooted narratives, the campaign connected strongly with audiences across markets. The integrated campaign was rolled out across television, digital platforms, outdoor media and extensive on-ground activations, helping strengthen the brand’s connect with consumers, engineers, masons and trade communities alike.

Commenting on the achievement, A V Dharmakrishnan, CEO of Ramco Cements, said: “Winning at the Kyoorius Creative Awards is a proud moment for all of us. The Hard Worker campaign was created as a tribute to the spirit of hardworking people who form the backbone of our industry and our nation. These recognitions reaffirm our belief that authentic, meaningful storytelling has the power to create a deep and lasting connection with people.”

Balaji K Moorthy, Executive Director – Marketing, Ramco Cements, added: “The Hard Worker campaign was built on a simple but powerful insight – that hard work deserves recognition and respect. We wanted the communication to feel rooted, emotional and culturally relevant while also pushing creative boundaries. Winning six honours, including the Grey Elephant Grand Prix, is a tremendous validation of the idea, the craft and the collaborative effort of everyone involved in the campaign.”

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Concrete

GP Petroleums Q4 PAT Rises 8%

Lubricant maker reports Rs 9.3 crore profit in Q4FY26

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GP Petroleums reported an 8 per cent rise in PAT to Rs 9.3 crore in Q4FY26, compared to Rs 8.6 crore in Q4FY25. Revenue from operations stood at Rs 163 crore, compared to Rs 183 crore in the corresponding quarter last year.

EBITDA for Q4FY26 increased to Rs 14.7 crore from Rs 13.2 crore in Q4FY25, while EBITDA margin improved to 9 per cent from 7 per cent. The company said its performance was supported by operational efficiencies, strong customer relationships and an expanding product portfolio.

For FY26, revenue from operations rose 5 per cent to Rs 643 crore, compared to Rs 610 crore in FY25. EBITDA stood at Rs 44.7 crore, against Rs 42 crore in the previous year. PAT was Rs 26.50 crore, marginally higher than Rs 26.30 crore in FY25.

The company said FY26 PAT was impacted by a wage provision of Rs 3.25 crore, representing about 12 per cent of PAT. GP Petroleums continues to see opportunities in industrial lubricants, process oils and premium automotive lubricants, though geopolitical developments and crude-linked raw material cost volatility may pose short-to-medium-term challenges.

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Concrete

Ramky Infra Order Book Crosses Rs 13,000 Crore

New order wins support resilient FY2026 performance

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Ramky Infrastructure reported a resilient FY2026 performance, supported by disciplined execution, cost efficiency and fresh order wins. The company secured new orders worth Rs 4,500 crore during Q4, taking its total order book above Rs 13,000 crore as of 31 March 2026.

Consolidated PAT grew 40 per cent year-on-year to Rs 283 crore in FY2026, compared to Rs 202 crore in FY2025. Standalone PAT rose 28 per cent to Rs 332 crore, while consolidated revenue from operations stood at Rs 1,846 crore. Standalone revenue from operations was Rs 1,679 crore.

During the year, the company secured orders worth Rs 6,500 crore across water, wastewater and industrial infrastructure. Key wins included a Rs 3,000 crore industrial park project from Maharashtra Industrial Development Corporation for a 1,000-hectare land parcel at Dighi Port Industrial Area, Maharashtra.

Ramky also secured a Rs 2,100 crore water and wastewater project from Hyderabad Metropolitan Water Supply and Sewerage Board for water transmission lines, and a Rs 1,400 crore EPC contract from Maharashtra Industrial Township Limited for the Dighi Port Industrial Area project.

The company generated Rs 160 crore through asset monetisation and Rs 165 crore through the stake sale of a stabilised asset, supporting equity requirements for new projects. The Board also recommended a final dividend of 10 per cent of the nominal value per share, subject to members’ approval.

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