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Indian cement industry to register modest growth of 6-8% in FY20

The report further motioned the capacity utilisations of the cement industry may improve gradually over the next two years on account of limited capacity additions amidst the turnaround of acquired assets. The sector will witness capacity addition of around 20 million tonnes per annum (MTPA) over FY19-FY21 (with higher addition in FY20), and the capacity utilization will increase by 120 bps and 200 bps in FY20 and FY21, respectively.
Besides, between 2008 and 2018, cement demand increased at 6.15% CAGR, while capacity increased at nine percent CAGR. Accordingly, capacity utilization rates dropped to 64% in FY18 from 83% in FY08, leading to increased competition and pressure on selling prices. Any further demand-supply imbalance at the regional level may impact the profitability of the players.
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