Shree Cement

Last updated

Shree Cement Limited
Company type Public
Industry Building materials
Headquarters
Kolkata, West Bengal (corp.)
Beawar, Rajasthan (regd.)
Key people
Products Cement, ready-mix concrete
RevenueDecrease2.svg₹19,872 crore (US$2.4 billion) (2025)
Decrease2.svg₹4,523 crore (US$530 million) (2025)
Decrease2.svg₹1,123 crore (US$130 million) (2025)
Total assets Increase2.svg₹28,491 crore (US$3.4 billion) (2025)
Total equity Increase2.svg₹21,578 crore (US$2.6 billion) (2025)
Number of employees
7,022 (31 March 2025)[ citation needed ]
Website www.shreecement.com
Footnotes /references
Financials as of as of 31 March 2025. [1]

Shree Cement is an Indian cement manufacturer, founded in Beawar, Rajasthan, in 1979. Headquartered in Kolkata, it is India's third largest cement producer group by capacity [2] [3] and third largest cement company by market capitalisation. [4] Shree Cement has an installed cement production capacity of 66.8 mtpa including overseas operations. [5] It also produces and sells power under the name Shree Power (captive power plant) and Shree Mega Power. [6] [7]

Contents

History

Shree Cement was incorporated in 1979 by Benu Gopal Bangur. In 1983, it commissioned its first plant in Beawar, Rajasthan, with production beginning in 1985. In 1995, Bangur's family gained full control of the business. Bangur's son Hari Mohan Bangur, a graduate from IIT Bombay, is the current head of the company. In 2003, Hari Mohan Bangur's son Prashant Bangur also joined the company. [8]

In 2014, Shree Cement acquired a grinding unit in Panipat, Haryana. [9]

In 2018, Shree Cement acquired UAE-based Union Cement, which had a capacity of 4 mtpa in the Emirate of Ras Al Khaimah, for $305 million. [10]

In 2019, the company raised ₹2,399 crore through a qualified institutional placement. In December 2023, it commissioned a kiln at its plant in Nawalgarh, Rajasthan. [11]

In 2024, the company entered the ready-mix concrete (RMC) segment. [12]

Operations

As of 2025, the company has a production capacity of 62.8 MTPA in India, and 4 MTPA in the United Arab Emirates. [9] [13] It operates integrated and grinding units in 18 locations in India. [3] [13] [14]

In 2023, its subsidiary commissioned a new 3 MTPA grinding unit in Purulia district, West Bengal. [3] In April 2025, the company commissioned a 3 MTPA grinding unit in Etah, Uttar Pradesh. It also has integrated plants in Kodla, Karnataka, and Guntur, Andhra Pradesh. [12]

Power generation

Shree Cement also generates electricity for use in its plants and for sale in the market, with an installed power capacity of 1 GW as of 2025. [3] [12]

Controversies

In 2018, six workers died at the under-construction Shree Cement factory at Kodla near Sedam in Kalaburagi district, Karnataka, after a crane collapsed. [15] In 2024, four workers died in separate incidents at the same factory within two months, prompting the district collector to launch an investigation into the factory's safety protocols. [16]

In February 2025, after another worker died at the same factory, a group of workers were filmed dragging his body and dumping it outside the premises. Six workers were arrested under various sections of the Bharatiya Nyaya Sanhita Act. [17] [18]

References

  1. ↑ "Audited Financial Results for Quarter and Year ended 31st March, 2025" (PDF). Shree Cement. Retrieved 12 November 2025.
  2. ↑ "Shree Cement cracks, MD says no tax evasion". The Times of India. 27 June 2023. ISSN   0971-8257 . Retrieved 4 January 2024.
  3. 1 2 3 4 "Shree Cement commissions new klin at Rajasthan at ₹3,500 cr". BusinessLine. 14 December 2023. Retrieved 4 January 2024.
  4. ↑ "Shree Cement plans to bid in India's lithium auction". Reuters.
  5. ↑ Dutt, Ishita Ayan (9 August 2022). "Shree Cement 'very bullish', setting up new factories: MD Bangur". www.business-standard.com. Retrieved 27 September 2022.
  6. ↑ "Shree Cement's Hari Mohan Bangur: On solid ground | Forbes India". Forbes India. Retrieved 16 December 2017.
  7. ↑ "Concrete Growth". Business Today. No. Sept 2014. News. 28 September 2014. Retrieved 19 March 2015.
  8. ↑ "Cementing A Sustainable Future". Forbes India. Retrieved 27 September 2022.
  9. 1 2 "Will explore acquisition possibilities at the right price: Shree Cement V-C". Business Standard.
  10. ↑ Kanungo, Soumonty (12 January 2018). "Shree Cement to buy 93% stake in UAE-based Union Cement for $305 million". Mint. Retrieved 29 August 2024.
  11. ↑ "Shree Cement commissions high-capacity kiln for ₹3,500 cr Rajasthan plant". Economic Times.
  12. 1 2 3 "Shree Cement's strategy of going it alone in the age of consolidation". Business Today.
  13. 1 2 "Shree Cement to invest Rs 6000cr to increase capacity". constructionweekonline.
  14. ↑ "Shree Cement inaugurates cement grinding unit with 3 MTPA capacity in West Bengal - ET RealEstate". ETRealty.com. Retrieved 4 January 2024.
  15. ↑ "Six factory workers killed in a freak accident in Kalaburagi". The Hindu. 3 August 2018. Retrieved 29 August 2024.
  16. ↑ "ಕಾರ್ಮಿಕರ ಸರಣಿ ಸಾವು: ಮೃತ್ಯುಕೂಪವಾದ ಸೇಡಂನ ಶ್ರೀ ಸಿಮೆಂಟ್ ಕಾರ್ಖಾನೆ". TV9 Kannada (in Kannada). 24 July 2024. Retrieved 29 August 2024.
  17. ↑ "Six arrested for dragging migrant worker's body in Sedam cement factory". The Hindu. 19 February 2025. Retrieved 16 August 2025.
  18. ↑ "6 arrested after cement factory worker's body dragged on road in Kalaburagi district - Public TV English". Public TV. 19 February 2025. Retrieved 16 August 2025.
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