Cement production declined 12 per cent to 82 million tonne in April-June 2021-22 compared to the previous quarter as Covid-induced lockdowns in various states impacted demand, a report by Icra said. However, year-on-year, the output was 54 per cent higher helped by a lower base on account of nationwide lockdown in April 2020, the rating agency said.
“The production in 4M FY2022 (April-July) is lower by 2 per cent compared to pre-COVID levels (4M FY2020),” it said. Though Icra expects total production in the country to go up by 12 per cent in the current fiscal year supported by factors like pent-up demand, rural housing demand and pick-up in infrastructure activity.
