Amid intense competition, the pace of absorption of newly commissioned capacities would dictate pricing trends. After about 35 million tonnes per annum (mtpa) of additions in FY26, another 40-45 mtpa is expected to be commissioned in FY27, according to Axis Securities. UltraTech plans to add 15.9mtpa in FY27 and 29.8mtpa in FY28, taking its grey cement capacity to 237 mtpa by FY28-end. Adani Group company Ambuja Cements is on track to reach 119 mtpa by FY27-end, from 109 mt at FY26-end. Dalmia is targeting 66.7 mtpa by Q3FY28, from 54.7 mtpa currently.
