An uptick in cement prices was mainly coming from the trade segment and negotiations were on with regards to non-trade segments, said K Ravi, managing director of NCL Industries. According to industry expert Sanjay Ladiwala, the biggest price hike may come in for North India, while east has always been a market short in supply, so prices would trend higher there as well.

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Ravi said he does not see an impact in Telangana from upcoming general elections, but Andhra Pradesh market may see a slowdown but as of now the demand is very good and volumes currently are at highest levels.

Current capacity utilisation for the company is at 80 percent and expect it to touch around 90 percent next year to the tune of 2.4 million tones, said Ravi, adding that EBITDA per tonne would be around Rs 800 per tonne for FY20.

Historically, there has always been jump in demand 4-6 prior to elections, which is already playing out now as well but post elections there is a slight dip. This time the dip would likely coincide with monsoons but till them it is unlikely that demand would come off, said Ladiwala.