Cement Stocks Outlook
Earnings to give cues next wk; UltraTech due Sat
This story was originally published at 22:18 IST on 17 October 2025
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MUMBAI - Shares of cement companies are likely to remain muted for the third week in a row. The September quarter earnings are likely to provide cues for cement stocks in the near term. Though the sector is expected to post strong on-year growth, investors will focus more on management comments about business outlook, demand, capital expenditure, and growth in the coming quarters.
UltraTech Cement is scheduled to release its results Saturday with its post-earnings conference call with analysts set for 1600 IST. For the September quarter, UltraTech is expected to report 79% on-year growth in consolidated net profit to INR 14.7 billion and its revenue is likely to rise 17% to INR 183.7 billion, according to the average of estimates from eight broking firms. Sequentially, however, this would mean a 34% fall in the company's bottom line and a 14% decline in its top line. Though demand for cement is likely to have been tepid in the September quarter because of the rains, some broking firms nevertheless expect the cement giant's consolidated volume to rise around 11% on year.
Despite weak demand in the sector, the seasonal correction in cement prices in the September quarter was much smaller than anticipated at the beginning of the quarter, HDFC Securities said in its report. Adjusted for the benefits of the government's goods and services tax reduction to 18% from 28% earlier, cement prices fell around 2% sequentially in the reporting quarter on a pan-India basis, the brokerage said. However, demand for cement is expected to accelerate from the second half of the financial year 2025-26 (Apr-Mar) and cement prices are likely to be stable sequentially in the December quarter, HDFC Securities said.
TOP HEADLINES
* Dalmia Bharat's consolidated net profit for Jul-Sept surges five-fold YoY
* Nuvoco Vistas posts INR 325.3-million PAT in Jul-Sept vs loss year ago
* Grasim's Birla Opus plant at Kharagpur begins commercial production
* Dalmia Bharat denies buying cement factory, says media report incorrect
* Earnings Outlook: Higher volume, lower costs to buoy UltraTech Q2 net profit
* SC rejects Asian Paints plea against CCI probe over Grasim Ind complaint
* Asian Paints' UAE-based JV arm commences production of white cement
Following are the resistance and support levels for key cement stocks for next week, as per calculations based on their prices on the National Stock Exchange:
| Company | Price | Week-on-week change in % | Resistance | Support |
| ACC | 1,832.70 | (-)2.80 | 1,889.10 | 1,789.50 |
| Ambuja Cements | 563.60 | (-)1.00 | 572.60 | 557.80 |
| Andhra Cements | 74.64 | (-)11.00 | 79.50 | 71.60 |
| Grasim Industries | 2,836.20 | 0.90 | 2,909.20 | 2,789.80 |
| J.K. Cement | 6,490.00 | (-)2.00 | 6,649.00 | 6,387.00 |
| JK Lakshmi Cement | 831.75 | (-)2.30 | 854.70 | 818.50 |
| Sagar Cements | 239.21 | (-)4.50 | 257.20 | 228.60 |
| Shree Cement | 29,690.00 | 0.80 | 30,250.00 | 29,270.00 |
| UltraTech Cement | 12,370.00 | 0.70 | 12,470.70 | 12,208.70 |
| India Cements | 391.90 | 0.20 | 400.50 | 384.60 |
| Nifty 50 | 25709.85 | 1.70 | 25939.60 | 25393.80 |
| BSE Sensex | 83952.19 | 1.80 | 84743.00 | 82810.70 |
End
Reported by Anjana Therese Antony
Edited by Rajeev Pai
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