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Shree Cement increases its S&P Global ESG Score

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The company ranks best on S&P Global ESG Score within Indian construction materials sector; reinforcing its commitment to Environmental and Social Responsibility (ESR)

Gurugram (Haryana); 12 November 2024

Shree Cement, a leading cement manufacturer and power generation company in India, has achieved a notable ESG (Environmental, Social, and Governance) score of 73 out of 100 in the 2024 S&P Global Corporate Sustainability Assessment (CSA). This score reflects a significant 11-point increase from the previous year, underscoring Shree Cement’s strengthened commitment to sustainable practices and corporate governance. With this score, Shree Cement ranks best within India’s construction materials sector.

The S&P Global ESG score is an industry-specific assessment that focuses on the quality of company disclosures as well as past and current performance on ESG issues. Shree Cement has achieved an industry-high disclosure rate of 96% in both required and additional disclosures, with “Very High” data availability.  The company’s proactive approach has also bolstered its reputation, with no recent controversies affecting its ESG score.

“Achieving this ESG score underlines Shree Cement’s deep commitment to sustainable and ethical operations. Our priorities lie in strengthening environmental stewardship, championing social responsibility, and maintaining rigorous governance standards to deliver lasting value to our stakeholders and positively impact the communities we serve,” said Neeraj Akhoury, Managing Director, Shree Cement.

The score of 73 is most heavily weighted to the Environmental Dimension, followed by Social Dimension and finally Governance & Economic Dimension.

In the Environmental Dimension, Shree Cement scored 76 out of 100, showcasing strong performance in key areas. The company excelled with a Waste & Pollutants score of 78, emphasizing effective waste management practices, and a Water Management score of 78, reflecting optimized water use, particularly in water-scarce regions. Additionally, Shree Cement achieved a Biodiversity score of 77, demonstrating its dedication to preserving natural ecosystems. These scores underscore Shree Cement’s robust commitment to sustainability.

On the Social Dimension, Shree Cement upholds high standards in labor practices, human rights, safety, and community/customer relations, demonstrated by a score of 75. This is further complemented by a strong emphasis on transparency and ethical governance.

With its comprehensive ESG strategy, Shree Cement has emerged as a leader in the Indian Construction Materials sector, setting a high standard for sustainable and responsible operations. Through continuous innovation and a focused commitment to ESG principles, Shree Cement is well-positioned to create meaningful, long-term impacts within its business and the communities it supports.

Concrete

Star Cement launches ‘Star Smart Building Solutions’

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Star Cement has launched ‘Star Smart Building Solutions,’ a new initiative aimed at promoting sustainable construction practices, as per a recent news report. This venture introduces a range of eco-friendly products, including tile adhesives, tile cleaners and grouts, designed to enhance durability and reduce environmental impact. The company plans to expand this portfolio with additional value-added products in the near future. By focusing on sustainable materials and innovative building solutions, Star Cement aims to contribute to environmentally responsible construction and meet the evolving needs of modern infrastructure development.

Image source:https://www.starcement.co.in/

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Concrete

Nuvoco Vistas reports record quarterly EBITDA

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Nuvoco Vistas reported its highest-ever quarterly consolidated EBITDA of Rs.556 crore in Q4 FY25, with annual EBITDA at Rs.1,391 crore. Cement sales reached 19.4 MMT in FY25, with Q4 contributing 5.7 MMT. Revenue rose 4 per cent YoY to Rs.3,042 crore in Q4. Net debt reduced by Rs.390 crore to Rs.3,640 crore. The company received NCLT approval for acquiring Vadraj Cement, targeting 31 MMTPA capacity by FY27. Key marketing initiatives, expanding RMX and MBM businesses, and a focus on sustainability (457 kg CO2/tonne) drove performance. Nuvoco remains focused on premiumisation, operational efficiency, and market expansion.

Image source:nuvoco.com

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UltraTech Cement increases capacity by 1.4Mt/yr

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UltraTech Cement has expanded its production capacity by 1.4 million tonnes per annum (Mt/yr) through a combination of debottlenecking efforts and operational efficiency upgrades across several of its plants. The enhancements include an addition of 0.6Mt/yr in grinding capacity at the Nagpur facility in Maharashtra and a combined 0.8Mt/yr at the Panipat and Jhajjar units in Haryana. With these upgrades, the company’s total domestic grey cement capacity has risen to 184.8Mt/yr, while its global capacity now stands at 190.2Mt/yr.

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