ICRA, India, forecasts 7% cement demand in 2015-2016

ICRA, an Indian ratings agency, forecasts demand for cement to increase by 6.8% to 7% year-on-year in the 2015-2016 fiscal year as the economy and infrastructure industry recover. ICRA also expects capacity usage of cement plants to rise from 72% in 2015-2016 to 77% in 2016-2017. India's cement production has risen by 5.6% y-o-y in 2014-2015 compared to 3% in 2013-2014.

August 4, 2015 Read time: 1 min

8018 ICRA, an Indian ratings agency, forecasts demand for cement to increase by 6.8% to 7% year-on-year in the 2015-2016 fiscal year as the economy and infrastructure industry recover.

ICRA also expects capacity usage of cement plants to rise from 72% in 2015-2016 to 77% in 2016-2017.

India's cement production has risen by 5.6% y-o-y in 2014-2015 compared to 3% in 2013-2014.

However, the demand for cement went up by only 1.8% from October 2014 to March 2015.

ICRA predicts that profitability of cement producers will improve in 2015-2016.

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