Birla Corp sees 4-5% FY26 volume growth amid soft demand, weak pricing

• Birla Corp expects 4-5% volume growth by FY26, facing soft demand and weak pricing in the cement sector.
• Demand was sluggish in Oct-Nov, with "green shoots" appearing in December; Q3 industry growth is expected to be flattish to low single digit.
• Pricing softness due to GST cut and slow demand led to a 2-3% sequential decline, likely impacting Q3 earnings.
• The company plans to organically expand capacity from 20 million tonnes to 27.6 million tonnes by FY29.
• Net debt is ₹2,500 crore, expected to remain below ₹3,000 crore by FY26 despite ongoing capital expenditure.

Why It Matters: Birla Corp's outlook signals cement sector struggles, impacting investors.