Ramco’s management says that in the next 10 years, there will only be two cement producing regions in India – the north and the south while the rest of the country will be a net importer from these regions. Looking at region wise trajectory of limestone production data published by the Indian Bureau of Mines (latest available data being 2022) , it is self explanatory that IF the demand cycle does pick up in South, it is going to A) improve CUs of players down there AND B) create ripple effects across western and eastern markets as both these regions are highly limestone deficit, and hence, rely on the 5 southern states to fulfill their demand
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