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] In 2024, the company entered the Ready-Mix Concrete (RMC) segment and currently operates 21 RMC plants, with plans to increase this number to 50 by the end of FY 2025–26.[8]
Shree Cement was incorporated in 1979 by Benu Gopal Bangur as its founder director. In 1985, it commenced production from its first plant in Beawar, Rajasthan, with production beginning in 1985. In 1992, Bangur's son Hari Mohan Bangur, an IIT Bombay graduate, joined the business and is the current head of the company. In 2003, Hari Mohan’s son Prashant Bangur also joined the company.[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 Rs. 2,399.99 crore through a qualified institutional programme. In 2023, it announced a capex plan of approximately Rs. 7,000 crore to expand capacity by 12 mtpa across Rajasthan, Uttar Pradesh, and Karnataka, including a new integrated unit in Rajasthan and a clinker facility in West Bengal. In December 2023, it commissioned what it described as one of the world’s largest kilns at its Nawalgarh plant.[11]
Aside from a 2014 purchase of a grinding unit in Panipat, Haryana, its capacity growth has been through greenfield and brownfield developments.[12]
Cement plants
Shree Cement, as a group, operates integrated and grinding units across 18 locations in India in the states of Rajasthan, Chhattisgarh, Karnataka, Andhra Pradesh, Bihar, Haryana, Jharkhand, Maharashtra, Odisha, Uttar Pradesh, Uttarakhand, and West Bengal.[3][13][14]
In 2023, its subsidiary commissioned a new 3 MTPA grinding unit in Purulia district, West Bengal, inaugurated by Chief Minister of West Bengal, Mamata Banerjee.[3] In April 2025, the company also commissioned a 3 MTPA grinding unit in Etah, Uttar Pradesh. It also has integrated plants in Karnataka (Kodla) and Andhra Pradesh (Guntur). The company also has integrated plants in Karnataka and Andhra Pradesh. The Karnataka unit in Kodla and the newer Guntur unit support its southern India operations.[8]
CSR and community engagement
Shree Cement carries out its Corporate Social Responsibility (CSR) activities through Shree Foundation Trust. Its initiatives, aligned with Schedule VII of the Companies Act, 2013, focus on education, healthcare, water access, livelihood development, women’s empowerment, and basic infrastructure, primarily in areas surrounding its operations.[15]
Operations
Shree Cement’s products include Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Portland Slag Cement (PSC) and Composite Cement (CC), used in residential, commercial, and infrastructure projects. The company also employs digital systems for manufacturing, testing, and logistics. As of FY 2025, the company’s domestic production capacity is 62.8 MTPA, with an additional 4 MTPA in the United Arab Emirates. In 2024, it launched a new branding strategy consolidating its products under the ‘Bangur’ name and expanded its RMC operations, including acquiring five plants in Mumbai.[12][13]
Power generation
Shree Cement also generates electricity for its captive use and also for supply in the market on merchant basis In FY 2025, Shree Cement achieved an installed power capacity of 1 GW, comprising solar, wind, thermal, and waste heat recovery plants. Nearly 60% of its power needs are met from renewable sources, the highest share in the Indian cement industry.[3] The company is a member of the RE100 initiative, aiming for 100% renewable electricity by 2050.[8]
Controversies
In 2018, six workers died at the under-construction Shree Cement factory near Sedam in Kalaburagi district, Karnataka, after a crane collapsed.[16] In 2024, four workers died in separate incidents at the same factory within two months, prompting an investigation into the factory's safety protocols.[17]
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.[18][19]
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₹4,523 crore (US$530 million) (2024–25) [1] 