Jefferies said India’s cement universe delivered a strong rebound in Q4, driven by recovery in pricing and steady volume growth.
Q4 EBITDA grew 11% YoY and surged 67% QoQ, aided by a sharp recovery in prices, especially in southern markets. The brokerage expects further pricing recovery in Q1FY26, which should contribute to a turnaround in sector profitability.
Jefferies believes FY26 will mark a profitability revival year for cement companies and has named UltraTech Cement, Shree Cement, and JK Cement as its top sector picks.
Disclaimer: The views and target prices mentioned in this article are as stated by Jefferies. They do not represent the opinions or recommendations of this publication. Readers are advised to consult their financial advisors before making any investment decisions.
