Ramco Cements expects price hike in Indian states

India's Ramco Cements Ltd has stated that a cement price hike in Telugu states is imperative as prices are unviable for manufacturers.

"Companies have to increase cement prices as current prices are unviable. There is no other way. Cement prices in Hyderabad range from INR220-270/bag (US$3-3.77/bag). Rates are similar in Andhra Pradesh, though we get INR10-15 more in Visakhapatnam and Rayalaseema regions," said R Ramakrishnan, president of marketing at Ramco Cements, in an interview with The Hans India.

In other states, such as Tamil Nadu and Kerala, prices crossed INR400/bag. "In Telugu states too, prices peaked up to INR380 per bag in the past. It will be good for us if prices reach that level at least for three months," said Mr Ramakrishnan.

Meanwhile, the company noted that it expects overall revenues to reach INR75bn in the next financial year, supported by its capacity expansion projects, having recorded a revenue of INR51.46bn in the last fiscal.