Indian cement industry's volume is likely to grow by 8-9% in the second half of FY26, led by pent-up demand and better liquidity, Crisil Intelligence said in a report.

It also expects the industry's margins to grow by 250-300 bps, helped by various factors, including higher realisation, stable cost, GST cut, premiumisation, and volume growth, which will ease pressure for manufacturers.

"Improved realisations driven by volume and premiumisation amid steady selling prices and cost of inputs will lead to a 250-300 basis points (bps) growth in the profitability of cement manufacturers this fiscal," the report said.

The report also expects an overall higher growth of 6.5 to 7.5% this fiscal against around 5% in the previous fiscal.

"In the first half of this fiscal, volume grew a moderate 5

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