Construction Industry Update: Top 10 Cement Companies In India By Market Cap - List

The cement sector witnessed a modest growth of 2-3% in Q1FY25, as per the India Brand Equity Foundation (IBEF). This is primarily due to a slowdown in construction during the Lok Sabha elections, during which the government had halted capital expenditure due to the code of conduct. However, ICRA projects a 7-8% growth for the remainder of FY2024-25, driven by strong demand in infrastructure and housing.

Infra push a major driver for the cement sector - Industry 

With the government's push for infrastructure, the cement and materials industry at large is hopeful that the demand for cement is only expected to rise. Take for instance, the recent report by IBEF, which says that the Mumbai-Ahembdabad Bullet Train Corridor, which is currently under construction, is significantly boosting the cement market. “It required 20,000 cubic Meters of cement daily,” IBEF said. There are also projects in line to the tune of Rs 102 Lakh Crore for the next five years under the National Infrastructure Pipeline (NIP).

Market Dynamics and Growth Potential

•    Modest Q1FY25 Growth: The sector grew by 2-3%, impacted by halted government expenditure during the Lok Sabha elections.
•    ICRA Projections: Growth is expected to accelerate to 7-8% for FY2024-25, driven by strong housing demand and infrastructure projects.
•    Key Drivers: Urbanization, smart city projects, and affordable housing schemes continue to fuel demand.
 

So which are the Indian companies contributing to India's cement demand? Well, make in India really seems to be a buzzword here. Purely on the basis of market cap, the companies that dominate the Indian cement industry are - Ultratecc Cement, Ambuja Cement, Shree Cement, and ACC among others. Here's a quick look at the largest cement companies in India by market cap.

Who Are The Top Players In Cement in India by Market Cap?

Key Growth Drivers for the Cement Industry

1.    Infrastructure Development: Massive government projects, such as highways, railways, and metro expansions
2.    Urbanization: Rapid urbanization and smart city projects
3.    Housing Schemes: Affordable housing initiatives by the government like PMAY (Pradhan Mantri Awas Yojana)