India's Cement Industry Set for Robust 6-7% Growth by FY27: ICRA Report

• ICRA forecasts India's cement industry to grow 6-7% in FY27, driven by strong housing and infrastructure demand.
• The industry is expected to achieve 6.5-7.5% growth in the current fiscal year FY26.
• Capacity additions of 85-90 million MTPA are projected for FY2026-FY2027, with operational EBITDA estimated at ₹880-930 per MT in FY2027.
• Demand is bolstered by robust construction activities, GST reforms (28% to 18%), and increased government infrastructure spending.
• Capacity utilization is projected to remain stable at 70-71% in FY2027, with North and Central India showing higher utilization than the national average.

Why It Matters: India's cement sector poised for strong growth through FY27, fueled by infra and housing demand.