Capex Updates
The already struggling Indian cement industry has been hit hard by the coronavirus crisis. Management statements on demand revival haven’t been very encouraging. So, many cement manufacturers have delayed their capital expenditure (capex) plans.
Ultratech Cements Ltd has projected a capex of ₹10 billion for fiscal year 2021 (FY21). This is lower than the ₹16 billion incurred in fiscal year 2020.
Shree Cements Ltd will decide on its large capex plan of doubling capacities in six years, only after demand conditions improve.
ACC Ltd is expanding its capacity by 18%, the management expects commissioning by 2022 only, a likely delay of 6-12 months due to Covid-19.
India Cements Ltd, JK Cements Ltd and Orient Cements Ltd, have also postponed their capex plans.
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