UltraTech Cement expects double-digit volume growth in FY25, industry volumes to grow 7-8%

India's largest cement manufacturer UltraTech Cement said during their post-earnings investor call that it expects cement volumes to grow by "double digits" for the ongoing financial year, even as the same for the industry is seen at seven-eight percent for the period.

The company's Chief Financial Officer, Atul Daga, said during the call that demand for the ongoing quarter is expected to be subdued owing to the monsoons. For the ongoing quarter, demand across the cement industry may grow by 3-3.5 percent year-on-year, Daga said.

During the April-June quarter, the Aditya Birla group company reported grey cement volumes in India of 30.29 million tonnes, representing a nine percent sequential decline, although it grew six percent year-on-year. April-June is generally considered to be strong sales months for the industry.

While the General Elections and the preceding Model Code of Conduct, which stretched for all but the last few weeks of the quarter, were dampeners in term of demand, extreme heat and unavailability of labour owing to it also worked against cement manufacturers for the reporting period.