<ul><li>Leading cement firms like UltraTech, Ambuja Cements, ACC, Shree Cements, and Dalmia Bharat expect a 7-7.5% growth in FY26 due to government infrastructure spending and rural recovery.</li><li>Cement industry saw volume growth in Q4, with topline numbers facing challenges due to lower sales realisation, despite cheaper input costs.</li><li>Operating margins for cement companies are expected to improve in FY26 due to marginal price hikes and stable input costs, as per ICRA report.</li><li>In Q4, UltraTech reported 41.02 MT sales volumes, Ambuja Cements achieved record 18.7 MT sales, Shree Cements reported 9.84 MT sales volume, and Dalmia Bharat saw a 2.8% increase to 8.6 MT sales volume.</li></ul>

Large cement makers report volume growth in Q4; expect to continue momentum in FY26

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