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

• ICRA projects India's cement industry to grow 6-7% in FY27, driven by housing and infrastructure sectors.
• The industry anticipates 6.5-7.5% growth in FY26, supported by strong demand and 8.5% volume expansion.
• Capacity is expected to add 85-90 million MTPA during FY26-FY27; operational EBITDA estimated at Rs 880-930 per MT in FY27.
• GST reforms (duty cut from 28% to 18%) and increased government spending will bolster demand momentum.
• Capacity utilization to remain stable at 70-71% in FY27; India is the world's second-largest cement producer.

Why It Matters: India's cement sector shows strong growth potential, fueled by infra, housing, and policy support.