Latest news with #ThurroResearch

Business Standard

India's cement production sees yearly gain, but monthly drop in April 2025

Cement production in India increased 6.66 per cent year-on-year to 39.88 million metric tonnes (MMT) in April 2025, up from 37.39 MMT in April 2024, according to data compiled from eight core infrastructure sectors by Thurro Research. These eight core industries—coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity—serve as barometers of industrial activity and contribute 40 per cent to the Index of Industrial Production (IIP). Sharp monthly decline from March highs Despite the year-on-year growth, April output dropped sharply from March 2025, when cement production hit a record high of 47.87 MMT—the highest in the 13-month review period. The April figure marked a 16.7 per cent fall, attributed to the typical slowdown in construction activity following year-end fiscal completions in March. The data originates from Enterprise Application Integration's eight core industries report dated 21 May 2025, a critical indicator of India's economic activity. Seasonal trends and government push drive volatility Monthly production figures reveal cyclical volatility, particularly a slowdown during the July–November monsoon and post-monsoon period. Output remained around or below 36 MMT during these months, with July marking the lowest production at 33.95 MMT—likely impacted by widespread monsoon disruptions to construction. A recovery began in December 2024, with production jumping to 41.16 MMT—up 19.6 per cent from November's 34.41 MMT. The uptrend continued in January (42.72 MMT) and February (41.84 MMT), culminating in March's peak of 47.87 MMT. Analysts attribute this surge to fiscal-end disbursals and acceleration in infrastructure execution by central and state governments, particularly in roads, railways, and housing. Industry sources credit the demand spike to progress under the National Infrastructure Pipeline (NIP), housing initiatives under the Pradhan Mantri Awas Yojana (PMAY), and growing private sector real estate activity in urban areas. April resilience amid seasonal slowdown Though April 2025 output declined from March, the 39.88 MMT figure outperformed all months between April and November 2024, except June. Analysts suggest that residual Q4 demand and pre-monsoon construction timelines kept consumption elevated. Sector experts also point to the Union Budget 2025–26's continued capital expenditure focus as a supportive factor for April's healthy print. Monsoon outlook and second-half recovery