Shree Cement
Indian cement company
From Wikipedia, the free encyclopedia
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]
 | |
| Company type | Public |
|---|---|
| Industry | Building materials |
| Headquarters | |
Key people |
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| Products | Cement, ready-mix concrete |
| Revenue |  ₹19,872 crore (US$2.4 billion) (2025) |
| ₹4,523 crore (US$530 million) (2025) | |
| ₹1,123 crore (US$130 million) (2025) | |
| Total assets |  ₹28,491 crore (US$3.4 billion) (2025) |
| Total equity | ₹21,578 crore (US$2.6 billion) (2025) |
Number of employees | 7,022 (31 March 2025)[citation needed] |
| Website | www |
| Footnotes / references Financials as of as of 31 March 2025[update].[1] | |
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]