According to India Cements Vice-Chairman and Managing Director N Srinivasan, price stabilisation in the cement industry is now occurring and market condition may recover by January 2016.
Srinivasan commented, "Slowly price stabilisation is taking place. Demand (for cement) has been negative in the south. Across India it remained flat".
"We are in black and that will continue. At the moment, demand for Cement in the south is 50 lakh t. When the market was at its peak it was 60 lakh t", he said.
Going forward he said the company would focus on stabilising the company "performance" and improving "bottomline".
"Our move is to stabilise performance, to improve bottomline through contribution of cost and volume".
The India Cements Ltd reported a net loss of Rs.11.68 crore for the quarter ended 31 December 2014, compared to a profit of Rs.42 lakh recorded in the same quarter a year earlier.
India Cements reports a loss for the January – March quarter and announces plans to restructure operations, while Shree Cement commissions its new line in Rajasthan.