"Cement prices are expected to rise in either May or June, says Anil Singhvi, Executive Chairman at Shree Digvijay Cement in its interaction with CNBC-TV18 on Friday. If the hike does not take place in either of these months, October could witness a price hike.

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Notably, a high competitive intensity in a largely consolidated Indian cement industry led to inconsequential growth in the prices of cement in a seasonally strong quarter of Q4FY23.

Also read: Here’s why it is imperative for cement industry to take adequate price hikes this quarter

Singhvi adds, there is still scope for the plant to give better productivity and be able to maintain its EBITDA/t if coal prices sustain. For third quarter of financial year 2022-23, the company's EBITDA/t was Rs 1,200.

Singhvi in its interaction with CNBC-TV18 adds that it is more of a volume game currently. Furthermore, expect cost recovery in next few quarters as fuel prices see correction.

The company has received environment clearances for its new plant from MOEF for capacity expansion to 3 mtpa and expects 2-3 quarters before it unfolds the new plant. He further adds that there is a bit of lull in mergers and acquisitions activity in the cement sector. Singhvi feels cement companies want to squeeze out existing capacities before they acquire more.

The company declared its fourth quarter results on Thursday afternoon with revenues growing 15 percent year on year to Rs 195 crore, while EBITDA margins grew to 19.5 percent compared 17.3 percent in same quarter of last year. Also, it sold its highest ever volumes of 1.25 mt in financial year 2022-23.

The stock is flat in trade at 11.30am today and gained 18 percent in past one month.

Also read: UltraTech Cement to announce Q4 earnings today; profit likely to decline