Shree Cement | Success Story

Shalini Rath Shalini Rath
Nov 12, 2022 7 min read
Shree Cement | Success Story

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Shree Cement.

One of the most crucial building materials in construction is cement. If it is of not good quality, chances are your building won't last for a long period. The lifespan of a particular building always depends upon the quality of the cement. Therefore, while constructing a building, make sure your cement is durable and strong.

Talking about building materials, they have remained largely unchanged for hundreds of years but, with all of today's technology, there are amazing options like sustainable building materials. With rapid changes and people becoming more aware of environmental issues, building materials are now sustainable.

Shree Cement is one such Indian cement manufacturer that is popularly known for its sustainable and innovative cement solutions for decades now. The company was founded in 1979 and has its headquarters in Kolkata, soon going to be shifted to Noida.

Read all about Shree Cement's success story, its founder, business model, acquisitions, and more.

Shree Cement - Company Highlights

  • Headquarters                  Kolkata, India
  • Sector                               Building Materials, Cement manufacturing
  • Type                                  Public
  • Founder                           Benu Gopal Bangur
  • Founded                          1979
  • Valuation                         Rs 76,850.73 crores
  • Revenue                           Rs 13,942 crores (2021)
  • Website                            www.shreecement.com

Shree Cement - About
Shree Cement - Industry Details
Shree Cement - Founder and Team
Shree Cement - Startup Story
Shree Cement - Mission and Vision
Shree Cement - Name, Tagline, Logo
Shree Cement - Business Model
Shree Cement - Revenue Model
Shree Cement - Mergers and Acquisitions
Shree Cement - Awards and Achievements
Shree Cement - Competitors
Shree Cement - Future plans

Shree Cement - About

Shree Cement is an Indian cement manufacturer that was founded in 1979 in Beawar, Rajasthan. Currently, its headquarters are located in Kolkata, which will be shifted to Noida very soon as per a source.

Since its inception, Shree Cement has been dedicated to the cause of long-term, inclusive growth. The company strives toward cultivating a culture that values continuous improvement, innovation, care, and collaboration, through which it drives operational excellence in products, processes, and people.

Shree Cement is regarded as one of Northern India's largest cement producers. The company's operations can be found throughout India and the UAE, with four integrated plants in India, one in the UAE, and nine grinding units. In terms of running its business, Shree Cement is a pioneer in the use of alternative fuel resources in cement production. The company also has the world's highest installed capacity of Waste Heat Recover Power plants, after China. Its plants are located in Beawar, Khushkhera, Jobner (Jaipur), and Suratgarh in Rajasthan, Laksar (Roorkee) in Uttarakhand, Panipat in Haryana, Bulandshahar in UP, Raipur in Chhattisgarh and Aurangabad in Bihar.

An interesting fact about Shree Cement; it has a total cement production capacity of 47.4 million tonnes per year (including exports) and a power generation capacity of 752 megawatts.

Shree Cement's Sustainability initiatives

Shree Cement has collaborated with Kendriya Sainik Board Secretariat, Rajya Sainik Boards, and Zila Sainik Boards, Ministry of Defence has announced a scheme known as #ShreeCementNaman, a scheme that will provide free cement to the family of martyrs.

In offering educational programs for the community, some of its key programs are; Shree Shiksha Yojana, Nand Ghar Yojana, Shree Ki Pathshala, School Support Programme, etc.

Shree Cement - Industry Details

The building materials industry is considered a large part of the construction industry. It comprises materials like cement, bricks, concrete, sand, and gravel materials. The most used building materials are cement, steel, glass, wood, and plastics.

As per reports, the projected market value of the global construction and building materials industry was $1,060.38 billion in 2022. Furthermore, it is expected that these figures will go up to $1,429.64 billion by 2027.

Shree Cement - Founder and Team

The founder of Shree Cement is Benu Gopal Bangur. The Bangur family owns 65% of Shree Cement.

Benu Gopal Bangur

Benu Gopal Bangur is the founder and Chairman of Shree Cement. He was born into a Marwari business family, whose grandfather Mungee Ram Bangur had started the Bangur family business in the late 19th century. BG Bangur holds a Bachelor of Commerce degree from Calcutta University. He has also been involved with several philanthropic and charitable institutions and trusts. BG Bangur has a net worth of $6.0 billion as of October 2019, according to Forbes. With a net worth of $7.3 billion in 2020, he ranked 14th on Forbes' Indian billionaire list. BG Bangur is a widowed father of two living in Kolkata. Hari Mohan Bangur, his son, has been running Shree Cement since 1990.

Hari Mohan Bangur

An IIT, Bombay Chemical Engineer graduate, Hari Mohan Bangur has been a director of Shree Cement since 1992 and is its CEO. He is presently the Managing Director of Shree Cement. HM Bangur serves as the President of the Rajasthan Foundation's Kolkata Chapter. Besides this, he is also the Chairman of "The Bengal," an NGO that works closely with the Kolkata Police Department to assist the elderly. HM Bangur received the prestigious EY Entrepreneur of the Year 2016 award as well as the Forbes India Leadership Award in 2017. Prashant Bangur, his son, is the joint managing director of Shree Cement.

Prashant Bangur

Prashant Bangur is the Vice-Chairman of Shree Cement. He serves on the committees of the Indian Chamber of Commerce and Industry in Kolkata, the Bharat Chamber of Commerce and Industry in Kolkata, and the Indian School of Business in Hyderabad. Prashant Bangur strongly supports sustainable development and is a member of the National Management Committee of the Cement Manufacturers' Association (CMA), India's premier policy advocacy organization for the cement industry.

Shree Cement - Startup Story

It was in 1979 when BG Bangur incorporated Shree Cement with its first plant opening in Rajasthan after four years of its inception.

The company began the production business in 1985. With the passing years, Shree Cement opened four integrated plants across India.

In 2009, Shree Cement became the first cement company to produce Synthetic Gypsum, an environmentally friendly product that is a by-product of industrial processing.

Today, Shree Cement stands as one of the largest cement manufacturers in Northern India. Shree Cement has grown from a 2 million tonne (mt) production capacity to the country's third largest cement player, with an installed capacity of 43.3 mt in India and 50.4 mt overseas in the last two decades.

Shree Cement - Mission and Vision

Shree Cement's vision is, "To Lead in creating prosperity and happiness for all stakeholders through innovation and sustainable practices."

Shree Cement aims to become the reason for its organization's employees' overall happiness. It goes by the principles of; Enforcing good corporate governance practices, Ensuring clarity in communication, and Encouraging socially responsible behavior.

Shree Cement can be seen with a unique tagline, which is, "Sasta Nahin, Sabse Achcha". With this tagline, Shree Cement proves to be the leader in the cement market.

Shree Cement - Business Model

As we all now know that Shree Cement is a manufacturer of building materials, especially cement. It can be said to have a diversified product portfolio. It is one of India's top three cement producers and one of the fastest growing, with an installed capacity of 43.4 million tonnes per year in India and 47.4 million tonnes per year including overseas operations.

Shree Cement's Business Vertical consists of the following types of cement:

  • Portland Pozzolana Cement (PPC) -  This type of cement is made by mixing materials like silica, ash, pond ash, etc. It is mostly used for hostile environmental conditions.
  • Portland Slag Cement (PSC) - PSC is a reclaimed industrial by-product from an iron blast furnace. The molten slag which comes from an iron blast furnace is rapidly chilled. This again forms glassy granules with the desired reactive cementitious properties.
  • Ordinary Portland Cement (OPC) - This cement is created with the hydraulic binding material ground by mixing it with the right portions of gypsum. OPC is generally used in high-rise buildings, foundation systems, bridge and dam structures, silos and tanks, industrial pavements, and nuclear containment structures.

Shree Cement's top brands are;

  • Bangur Cement
  • Roofon
  • Bangur Power,
  • Shree Jung Rodhak
  • Rockstrong

Shree Cement - Revenue Model

Shree Cement gets its revenue by manufacturing the above-mentioned types of cement. Considered the top three cement producers in India, Shree Cement has a total capacity of 46.40 million tonnes per annum (MTPA) of cement production and 771 MW of power generation.

As of 2021, Shree Cement generated a revenue of Rs 13,942 crores.

Shree Cement - Mergers and Acquisitions

Shree Cement has acquired two organizations. The details are:

Date Acquiree name Amount
April 30, 2018 Raipur Handling & Infrastructure $8.8 million
January 11, 2018 Union Cement Co. $305.2 million

Shree Cement - Awards and Achievements

Shree Cement has been recognized in the industry for contributing the best quality products, and for serving the community. They have many won awards, these are:

  • Shree Cement has received the ICC Corporate Governance & Sustainability Vision 2020
  • Shree Cement has been awarded as the of India's top 100 places to work for
  • Shree Cement has received the Golden Peacock Award for HR Excellence in 2019
  • Shree Cement has achieved the Global Sustainability Award in 2019
  • Shree Cement has been a recipient of Best Quality Excellence 2018-2019

Shree Cement - Competitors

The top competitors of Shree Cement are;

  1. UltraTechCement
  2. Dalmia Bharat
  3. Odisha Cement
  4. ACC
  5. Ambuja Cements
  6. Ramco Cements
  7. India Cements
  8. J.K Cement
  9. Nuvoco Vistas
  10. Star Cement

Shree Cement - Future plans

For its future goals, Shree Cement has reported setting up many goals. It has said that it will invest Rs 4,750 crore until FY 2024 for further expansions.

Their new project in Puralia in West Bengal is to be completed by March 2023, Rajasthan's project is to be completed between December 2023 and March 2024, and Andhra Pradesh's which has just begun and is expected to be completed by March 2024.

In addition, it also aims to increase its capacity at a 12% compound annual growth rate (CAGR) to 80 million tonnes by FY26.

FAQs

Who is the CEO of Shree Cement?

Rajesh Ghurkha is the CEO of Shree Cement.

Where is the head office of Shree Cement?

The head office of Shree Cement is in Kolkata.

What is the rank of Shree Cement in the Indian Market?

Shree Cement currently ranks at number 2 in India.

What is the market cap of Shree Cement?

Shree Cement has a market cap of $10.22 Billion.

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