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Cement prices in India are unlikely to recover until the seasonally strong January-March quarter (Q4 FY26) as the cement players face a mixed demand situation, analysts at brokerage Systematix said.
The brokerage however remained positive for the sector from a medium-to-long term perspective despite some "near-term hiccups".
Pan-India cement prices have dropped month-on-month in November, Systematix said, adding that a rebound is expected to be seen only from January 2026 onwards. It noted that cement prices rose year-on-year due to a low base, but were flattish quarter-on-quarter in Q2 FY26.
Systematix noted that channel checks indicate a "mixed demand en

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