| News & Trends | ||
| Indian cement makers firms fearing glut on capacity addition - 27 Aug, 2008 | ||
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BS reported that Indian cement majors may fail to raise prices as the fresh capacities coming on stream, resulting in an oversupply of the commodity although some recent reports had suggested that these companies would go for a hike of INR 20 or above for a bag of 50 kilogram due to escalating input costs. Industry experts said that “It would be difficult to raise cement prices as there would be an excess of the commodity in the market as a result of fresh units coming up despite companies lowering their capacity utilization. Apart from economic factors, the government pressure may also not let companies go their way in raising prices.” Mr Vinod Juneja MD of Binani Cement said that “Due to supply and demand factors, it is not possible to go ahead with a price rise.” Mr HM Bagur MD of Shree Cement said that “When substantial capacities build up, there are losses.” Mr AL Kapur MD of Ambuja Cements said that “When everybody wants to capture the market share, prices are bound to collapse.” India is expected to see an excess cement of around 10 million tonnes over the actual consumption in 2008-09. Cement Manufacturers’ Association said that the industry with a capacity of 198.62 million tonnes as on March 31st 2008 is expected to add around 70 million tonnes by the end of FY 2010. Of this 30 million tonnes to 35 million tonnes are to be added in the current financial year alone. Concerns of oversupply, a restricted increase in cement realization, declining operating margins and de growth in profitability will continue to hamper the performance of companies for the next 12th to 18th months. | ||
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