Cement Growth Slow, UltraTech & Ambuja Surge

  Published 6 months ago

India's cement volume growth slows 5% YoY, but UltraTech and Ambuja expect double‑digit gains this.

  • Heavy monsoon, early festive season, and pre‑GST dispatch weakness curb overall industry volume growth significantly.
  • UltraTech targets ~10% growth, Ambuja ~15%, driven by M&A consolidation and market positioning in 2024.
  • Analysts rate ULTC, ABUJ, and JKCE as Buy, expecting earnings to rise from pricing, low base benefit.

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