Indian Cement Industry

Table of Contents

Section A

1. Introduction

• 1.1 Overview

2. Demand - Supply Analysis

• 2.1 Overall Demand - Supply scenario
• 2.2 Region-wise Demand - Supply scenario
• 2.3 Detailed Regional Analysis
• 2.4 Region-wise Capacity Utilisation Rate
• 2.5 Inter-regional cement movement in FY 08

3. Demand Drivers

• 3.1 Real Estate
• 3.2 Infrastructure
• 3.3 Industrial Expansion projects
• 3.4 Region-wise demand drivers

4. Supply Dynamics

• 4.1 Past supply Statistics
• 4.2 Blending dominates
• 4.3 Region-wise Projected Planned Capacity addition

5. Cost Analysis

• 5.1 Power & fuel cost
• 5.2 Freight & Forwarding expense
• 5.3 Raw Material (RM) cost

6. Cement Prices

7. Market Competition & Consolidation

• 7.1 Market Share of major players
• 7.2 Industry Aggregates

8. Outlook

• 8.1 Overall projected Demand-Supply situation
• 8.2 Regionwise projected Demand- Supply situation
• 8.3 Margins & Prices
• 8.4 Consolidation still a mile away....

9. SWOT Analysis

10. Company Profiles

• 10.1 Associated Cement Company Ltd. (ACC)
• 10.2 Ambuja Cements Ltd.
• 10.3 Grasim Industries Ltd.
• 10.4 UltraTech Cement Ltd.
• 10.5 India Cements Ltd.

Section B (Annexures)

1. Cement Industry Basics

• 1.1 Types of Cement
• 1.2 Cement Manufacturing Process
• 1.3 Industry Characteristics

2. Key Statistics - Financial Performance

3. Key Statistics - Operational Performance

4. Capacity Expansion Projects by Major Companies

5. Raw material costs & consumption

6. Industry Developments

Section I

LIST OF FIGURES

• A-1. Trends of Capacity, Production and Capacity utilisation
• A-2. Trend of Conversion Ratio
• A-3. Regionwise price trend in FY 09
• A-4. Major cement producing & consuming states in FY 09
• A-5. Trend of capacity addition
• A-6. Regional statistics FY 09
• A-7. Regional scenario in FY 09
• A-8. North - Overall scenario
• A-9. North - State-wise scenario at the end of FY 09
• A-10. North - Position of top players at the end of FY 09
• A-11. Price trend in Delhi
• A-12. South - Overall Scenario
• A-13. South - State-wise scenario at the end of FY 09
• A-14. South - Position of top players at the end of FY 09
• A-15. Price trend in Chennai
• A-16. West - Overall scenario
• A-17. West - State-wise scenario as at the end of FY 09
• A-18. West - Position of top players at the end of FY 09
• A-19. Price trend in Mumbai
• A-20. East - Overall scenario
• A-21. East - State-wise scenario as at the end of FY 09
• A-22. East - Position of top players at the end of FY 09
• A-23. Price trend in Kolkata
• A-24. Central - Overall scenario
• A-25. Central - State-wise scenario at the end of FY 09
• A-26. Central - Position of top players at the end of FY 09
• A-27. Trend of capacity utilisation rate
• A-28. Sector-wise cement demand
• A-29. Bifurcation of investments in infrastructure sector
• A-30. Product Mix
• A-31. Cost per unit - Industry Average
• A-32. Trend of bifurcation of captive power capacity of the industry
• A-33. Consumption and import of coal by cement industry
• A-34. Change in industry-wide dispatch mix
• A-35. Trend of Cement dispatch mix
• A-36. Distribution of proven reserves of limestone at the end of FY 07
• A-37. Average yearly cement price trend
• A-38. Market Share of Major Players in FY 09
• A-39. Regional scenario - Market share of top five players
• A-40. Trend of industry averages
• A-41. Comparison of operating margin - Q4 FY 09 Vs Q2 FY 09
• A-42. Projected Capacity Utilisation trend
• A-43. Trend of international coal prices
• A-44. Trend of diesel prices
• A-45. Break-even Cushion
• A-46. NPV of acquisition Vs Greenfield plant

LIST OF TABLES

• A-1. Growth trend in Past 5 years
• A-2. Regional scenario in FY09
• A-3. Status of top 10 players (capacity-wise)
• A-4. Capacity addition by small/ medium players
• A-5. Cement demand statistics
• A-6. Companywise Exports
• A-7. North - Inter-regional cement movement
• A-8. South - Inter-regional cement movement
• A-9. West - Inter-regional cement movement
• A-10. East - Inter-regional cement movement
• A-11. Central - Inter-regional cement movement
• A-12. Inter - regional cement movement in FY 08
• A-13. Estimated cement demand from the infrastructure sector
• A-14. Regionwise demand drivers
• A-15. Regionwise capacity addition
• A-16. Projected capacity additions
• A-17. State-wise power tariff
• A-18. Cost comparison of grid and captive power
• A-19. Company-wise Captive power capacity addition announced
• A-20. Trend of government linkage of coal
• A-21. Alternate fuel consumption
• A-22. Dispatch mix for cement companies
• A-23. Per tonne freight cost
• A-24. India' s Limestone position
• A-25. Limestone cost
• A-26. Change in market share of some cement companies
• A-27. Industry averages
• A-28. Overall projected demand-supply situation
• A-29. Region-wise projected demand-supply situation

Section II

LIST OF FIGURES

• B-1. Types of Cement
• B-2. Cement Manufacturing Process
• B-1. Per capita consumption
• B-2. Duty structure
• B-3. Net Sales
• B-4. Operating profit
• B-5. Net profit
• B-6. Operating profit margin
• B-7. APAT margin
• B-8. Interest coverage ratio
• B-9. Region-wise/state-wise production & capacity
• B-10. Region-wise/state-wise cement consumption
• B-11. State-wise surplus/deficit scenario
• B-12. Company-wise capacity
• B-13. Company-wise production
• B-14. Company-wise dispatch
• B-15. Total export scenario
• B-16. Company-wise exports
• B-17. Region-wise product mix
• B-18. Company-wise product mix
• B-19. Overall product mix
• B-20. Cement dispatch mode
• B-21. Company-wise dispatch mix
• B-22. Average cement prices
• B-23. Changes in Duty structure
• B-24. Company-wise dispatch
• B-25. Capacity Expansion projects
• B-26. Limestone cost
• B-27. Gypsum cost
• B-28. Fly Ash cost
• B-29. Limestone consumption
• B-30. Coal consumption
• B-31. Power consumption
• B-32. Power consumption pattern
• B-33. Cost per tonne of cement produced
• B-34. Industry developments