Economy & Market

Economy – Tell-Tale Signs visible

Published

7 years ago

January 2, 2020

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Do signs tell a tale? Yes, we are talking about the economy. There is this oft-used nomenclature of lagging indicators and leading indicators, and as the names indicate, the lagging ones help to validate the situation in the recent past, while the leading ones help project immediate future trends. So, in a manner of speaking, both tell tales, albeit of different times. And who doesn’t know, that it is the future that interests us more, not just because of the uncertainties and mysteries associated with, but chiefly because well-educated projections of future enables us to make better action plans and achieve better results down the line.

Now, cement industry is very intricately intertwined with our economy. As we know, growth forecasts of cement consumption have been always predicated on GDP growth numbers, with a multiplier. So, at any point of time, a discussion about the economy, and the emanating tell-tale signs, are never ever out of place for the cement industry watchers. This is particularly so, when the industry has had a rather unexciting and tentative three quarters this year. Cement consumption growth trend has not been consistent, and cement prices have moved listlessly in some regions, sometimes sideways, sometimes up or down. The improvements in financial performances of cement players, if any, have been more due to cost-side management than due to a real return of pricing power driven by strong consistent growth. The writing is also on the wall, that the eagerly awaited GST reduction is not coming any time soon, given that the direct tax collection is showing a decline for the first time in two decades, and that the government has no fiscal elbow room at all. But if not for GST concession, the industry seems to be waiting for something else, may be some stimulus of some kind, on the demand side.

May be, it is infrastructure projects that the industry is expecting. The government announced Rs 102 lakh crore of infrastructure projects over the next five years with some fanfare, of which some would come from central projects, some from states, and the remaining from private sector investments. Is this the push that the cement sector has been waiting for? Disappointingly, this looks more like an old wine in a new bottle, because in the 2019/20 budget speech, a similar number was announced in July 2019; to quote a press report at that time,"In a massive push for boosting infrastructure, the Union government announced …. that it intends to invest Rs 100 lakh crore (around $1.46 trillion) in the sector over the next five years". Therefore, this announcement per se, is unlikely to have any new impact.

May be, it is then the growth of rural demand of cement, that we are looking forward to. Individual home building activity is anyway a much larger segment of cement demand, compared to infrastructure sector, based on current reckoning. Every expert has suggested measures to fire up consumption, and especially rural demand, to turn around our ailing economy, and if the budget can somehow manage to trigger that, cement companies will be glad. However, what do the leading indicators tell us about rural demand and/or household consumption? The data on inflation, unemployment rate, real growth in wages (inflation corrected), domestic savings, gross capital formation " all these tell a rather depressing story. More specifically, further analysis shows the fall in the household savings is primarily due to a sharp fall in physical assets (primarily house, land, farm implements and includes valuables as well) – from 16.3 per cent of the GDP in FY12 to 10.6 per cent in FY18.

But then, all these signs ( read : indicators ) that are expected to tell a tale, may soon tell a much more "convenient truth", once our government is done with a new set of proposed tweaks on data processes. However, mere data optics may not be the solution the cement industry would have been waiting for.

Concrete

Wonder Cement appoints Mahesh Singh as VP Corporate Brand Communication

Published

7 days ago

October 9, 2026

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Singh brings 20+ years of brand and marketing experience, and will lead integrated corporate brand communication initiatives at Wonder Cement

New Delhi

Wonder Cement, a leading cement manufacturer, has appointed Mahesh Singh as Vice President – Corporate Brand Communication. In his new role, he will oversee corporate brand strategy and communication, including digital and performance marketing, public relations, trade, events, exhibitions, sports and experiential marketing.

Singh brings over two decades of experience across marketing and communications, with roles spanning the automotive industry, agencies and entrepreneurship. He spent more than a decade with Honda Motorcycle & Scooter India, working across integrated communication, media, digital, retail and consumer engagement. His stint also included helping build the company’s digital marketing capabilities.

He moved to dentsu X India as Vice President – Strategy & Planning, working across categories such as automotive, auto components, electric vehicles, FMCG, consumer electronics, BFSI, apparel and brand consulting. His responsibilities included media and marketing strategy, product launches, content, performance marketing and consumer activations.

Singh subsequently took an entrepreneurial route with Radiant Brands before joining Shriram Ltd (SPR Autotech) as Head – Marketing & Communications. There, his remit included brand and corporate strategy, communications, PR and ORM, retail identity, loyalty programmes and events.

At Wonder Cement, Singh will be responsible for bringing together the company’s corporate brand communication initiatives across digital, performance marketing, PR, trade, sports and experiential platforms. The role will focus on creating an integrated approach to communication across consumers, trade partners and other key stakeholders.

The appointment brings to Wonder Cement a marketer whose career has spanned the brand, agency and entrepreneurial sides of the communications ecosystem.

Wonder Cement, part of the RK Group, is a cement manufacturer with roots in Rajasthan and a focus on quality, trust and transparency. The company has grown to six manufacturing plants, and a cement capacity of 21.5 MTPA. With more than 2,000 employees and a network of over 5,000 dealers, its operations span manufacturing, distribution and customer engagement, with a focus on consistent product quality and efficient execution.

Concrete

JSW Cement commissions additional 1 MTPA grinding unit at Nagaur

Published

1 week ago

October 8, 2026

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With this commissioning, JSW Cement’s total cement grinding capacity has increased to 25.10 MTPA,
Mumbai

JSW Cement, one of India’s leading green cement producers and part of the diversified JSW Group, today announced the successful commissioning of an additional 1.00 MTPA cement grinding unit at Nagaur, Rajasthan. The commissioning marks another significant milestone in the Company’s growth strategy.

With this commissioning, JSW Cement’s total cement grinding capacity has increased to 25.10 MTPA, while its total clinker manufacturing capacity, including clinker capacity at its joint venture, JSW Cement FZC, stands at 9.74 MTPA.

JSW Cement had commenced operations in North India in March 2026 with the Nagaur Integrated Plant, comprising a 3.30 MTPA clinkerisation unit and 2.50 MTPA cement grinding unit. With the commissioning of the additional 1.00 MTPA cement grinding unit, the plant’s total cement grinding capacity has increased to 3.50 MTPA, enhancing the company’s ability to cater to the growing cement demand across Rajasthan, Haryana, Punjab and the National Capital Region (NCR). The expansion has been funded through a strategic mix of equity and long-term debt.

During the quarter ended 30th September 2026, JSW Cement has also commissioned the Alternate Fuel Handling System and the Waste Heat Recovery system (WHRS) at the Nagaur Integrated Plant.

Nilesh Narwekar, CEO, JSW Cement, said: “The commissioning of additional 1.00 MTPA grinding capacity at Nagaur is a key strategic priority for us and will accelerate JSW Cement’s expansion into North India. We look forward to servicing the growing needs of the region and contributing to the economic growth of Rajasthan, Haryana, Punjab and the NCR area. I am delighted to share that the company has commissioned this grinding unit within the expected timeline, showcasing our project execution capabilities. Further, the Alternate Fuel Handling System and the Waste Heat Recovery system (WHRS) are expected to substantially reduce our production costs going forward.”

Concrete

UltraTech becomes first Indian cement firm to cross 2 GW green energy

Published

1 week ago

October 7, 2026

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UltraTech Cement has crossed 2 GW of captive green energy capacity, with renewables and waste heat recovery meeting 48 per cent of its power needs.

Mumbai

UltraTech Cement Limited has surpassed 2 GW of installed green energy capacity for captive use, becoming the first cement company in India to achieve the milestone. The Aditya Birla Group company commissioned 116.55 MW of wind capacity at its Inter-State Transmission System-connected wind-solar hybrid project in Barmer, Rajasthan, along with 10 MW of Waste Heat Recovery System capacity at Sarlanagar Cement Works in Karnataka.

With these additions, UltraTech’s cumulative installed green energy capacity has reached 2,024 MW. This includes 1,580 MW of renewable energy capacity and 444 MW of waste heat recovery capacity, together meeting around 48 per cent of the company’s current power requirements.

The company said the milestone reflects the progress of its long-term energy transition strategy. In FY27 so far, nearly one-third of UltraTech’s 76 manufacturing units in India have maintained green energy utilisation above 50 per cent of their electricity requirements, while five units have crossed 95 per cent.

K C Jhanwar, Managing Director, UltraTech Cement Limited, said, “Crossing the 2 GW green energy milestone is the result of a strategy we have pursued consistently over the past decade. Cement is an energy-intensive, hard-to-abate sector, and showing that reliability and growth can go hand in hand with a rapid shift to green energy sets a benchmark for the industry. With nearly half of our power needs now met through green energy, we are significantly less exposed to fossil fuel supply constraints and power price volatility. As we scale up renewables, waste heat recovery and battery storage across our operations, we are building an energy foundation for stable, long-term growth.”

UltraTech commissioned 430 MW of green energy capacity in FY26 and continues to expand its renewable energy and waste heat recovery portfolio.

The company is also progressively integrating Battery Energy Storage Systems across its operations to improve renewable energy utilisation and supply reliability.

In 2025, UltraTech operationalised what it described as India’s first on-site hybrid round-the-clock renewable energy project at Sewagram Cement Works in Gujarat. The project combines solar, wind and battery storage.

As part of its decarbonisation strategy, UltraTech said it has not invested in new captive thermal power capacity for either greenfield projects or brownfield expansions at its integrated units for more than a decade.

The company said its expanding green energy portfolio is helping reduce dependence on conventional grid electricity and fossil fuel-based power, while lowering exposure to fluctuations in coal and electricity prices.

UltraTech aims to increase green energy’s share in its total power mix to 85 per cent by 2030. As a member of RE100, it has also committed to meeting 100 per cent of its electricity requirement through renewable sources by 2050.

UltraTech Cement, the cement flagship of the Aditya Birla Group, has a total grey cement capacity of 210.1 MTPA and white cement and putty capacity of 3.5 MTPA. The company is also a signatory to the GCCA Climate Ambition 2050 and has committed to the GCCA Net Zero Concrete roadmap.