New Delhi, July 14 -- The cement industry is unlikely to see a sequential increase in prices during Q2FY27E, as monsoon-led demand moderation is expected to weigh on the sector, while rising fuel costs and seasonal operating deleverage could pull down industry margins, according to a report by HDFC Securities.

On the pricing front, gains remained modest despite rising energy and packaging costs, with cement prices increasing by up to 3 per cent quarter-on-quarter across regions. "Cement prices rose a modest ~2-3% QoQ across regions," it said.

It noted that offtake was subdued in May but improved in June as the delayed onset of the monsoon supported construction activity.

During the quarter, the input cost pressures also intensified on ...