Shree Cement is an Indian

cement A cement is a binder, a chemical substance used for construction that sets, hardens, and adheres to other materials to bind them together. Cement is seldom used on its own, but rather to bind sand and gravel ( aggregate) together. Cement mi ...

manufacturer Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of secondary sector of the economy. The term may refer to ...

, founded in

Beawar Beawar () is a city in Ajmer district of Rajasthan, India. Beawar was the financial capital of Merwara state of Rajputana. As of 2011, the population of Beawar is 342,935. It is located 70 kilometres from Ajmer, the district headquarters and ...

Rajasthan Rajasthan (; lit. 'Land of Kings') is a state in northern India. It covers or 10.4 per cent of India's total geographical area. It is the largest Indian state by area and the seventh largest by population. It is on India's northwestern s ...

, in 1979. Now headquartered in

Kolkata Kolkata (, or , ; also known as Calcutta , the official name until 2001) is the capital of the Indian state of West Bengal, on the eastern bank of the Hooghly River west of the border with Bangladesh. It is the primary business, comme ...

(soon to be shifted entirely to

Noida Noida, short for New Okhla Industrial Development Authority, is a planned city located in Gautam Buddha Nagar district of the Indian state of Uttar Pradesh. Noida is a satellite city of Delhi and is a part of the National Capital Region (NCR) o ...

), it is one of the biggest cement makers in Northern India. Shree Cement has moved in the last two decades from having 2 million tonne (mt) production capacity to becoming the country’s third largest cement player, with an installed capacity of 43.3 mt in India and 50.4 mt overseas. It also produces and sells power under the name Shree Power (Captive Power Plant) and Shree Mega Power (Independent Power Plant). Since 2006, it has more than quadrupled its production capacity both by expanding into new areas and increasing the capacities of the existing plants. Shree Cement has been ranked 4th in 2017 Responsible Business Rankings developed by IIM Udaipur.

History

In 1979, BG Bangur incorporated Shree Cement. In 1983 they commissioned its first plant in Rajasthan and in 1985 it began production. Until then a family business, in 1995 BG Bangur’s family gained full control of the business. The current head of the company is 70-year-old Hari Mohan Bangur, who had joined his father, BG Bangur since he graduated from IIT Bombay in 1975. Nineteen years ago, in 2003, HM Bangur’s son Prashant Bangur too joined the business. In November 2019, the company had raised Rs 2,399.99 crore through a qualified institutional programme at a share price of Rs 19806.46. Nearly two years later, post fund-raising in September 2021, the company announced to the bourses that it is pumping capital as part of its capex expansion plan. The company has announced it will invest Rs 4,750 crore until FY 2024. It has commissioned an integrated cement plant at Nawalgarh, Rajasthan, which will be operational by December 2023. The Rajasthan plant consists of 3.5 MTPA cement and 3.8 MTPA clinker facility. The capex also includes a 3 MTPA clinker plant near Purulia, WB.

Projects

According to Mr. H.M. Bangur (MD, Shree Cement Ltd.), Shree Cement is very 'bullish' and are putting up new factories. The new projects include Puralia in

West Bengal West Bengal (, Bengali: ''Poshchim Bongo'', , abbr. WB) is a state in the eastern portion of India. It is situated along the Bay of Bengal, along with a population of over 91 million inhabitants within an area of . West Bengal is the fou ...

(to be completed by March 2023),

, which is much bigger considering the cost of Rs 3,500 crore (expected to complete between December 2023 and March 2024) and

Andhra Pradesh Andhra Pradesh (, abbr. AP) is a state in the south-eastern coastal region of India. It is the seventh-largest state by area covering an area of and tenth-most populous state with 49,386,799 inhabitants. It is bordered by Telangana to the ...

which is just started which is expected to be done by March 2024. The total investment is around Rs 6,500 crore and the plants when completed will add up to 10 mt to the total cement production (current total production is 57 mt). The current target of Shree Cement is to increase their production to 80 mt by 2030. The interesting thing to be noted is that except Panipat and an acquisation in UAE (UCC), all the other projects are greenfield.

Cement Plants

Plants are located in Beawar, Ras, Khushkhera, Jobner (Jaipur) and Suratgarh in Rajasthan, Laksar (Roorkee) in Uttarakhand, Panipat in Haryana, Bulandshahar in UP, Raipur in Chhattisgarh and Aurangabad in Bihar.

Power Plants

The company produces and sells power under the brand name Shree Power and Shree Mega Power (SMP).

Shree Power

The company has installed 120 MW captive power plants split into two locations (Beawar & Ras) to meet the complete power needs of a 15 million tonne Integrated Cement Plant. Commissioned 2x18 MW Greenfield Power Plant at Beawar in 2002 which is running successfully. One 6 MW TG is also operating successfully with excess steam available from this 2x18 MW Power Plant. 4x18 unit is operational in RAS plant (40 km from Beawar). At same location 2x50 MW unit also exists and being fully operational. Company also believes in producing power from

waste heat recovery A waste heat recovery unit (WHRU) is an energy recovery heat exchanger that transfers heat from process outputs at high temperature to another part of the process for some purpose, usually increased efficiency. The WHRU is a tool involved in cogen ...

methods (from Cement Kiln and preheat). Making a total of 265MW captive power along with 300MW independent.

Financials

Turnover of the company for 2013–14 was and Net profit was , 2012–13 was and net profit was ; 2011–12 was and Net profit was ; for 2010–11 it was and net profit was ; In 2008–09 the company posted a turnover of and generated operating profit of .

References

External links

* {{S&P CNX Nifty companies Cement companies of India Manufacturing companies based in Kolkata NIFTY 50 Indian companies established in 1979 1979 establishments in Rajasthan Manufacturing companies established in 1979 Companies listed on the National Stock Exchange of India Companies listed on the Bombay Stock Exchange