Economy & Market

Awarding Excellence

Published

11 months ago

December 12, 2025

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The 9th Indian Cement Review Awards 2025, held concurrently with the 15th Edition of Cement Expo and Conference, celebrated excellence in the cement sector, at the Yashobhoomi Convention Centre, Delhi. Dr Raghavpat Singhania and Madhavkrishna Singhania won the Person of the Year, and Dr Shailendra Chouksey was bestowed with the Lifetime Achievement Award. The conference brought together industry experts who presented their innovative ideas to collaborate and grow. Read on to know more about this successful edition of India’s most anticipated cement event.

The ninth edition of the Indian Cement Review Awards, popularly known as the Oscars of cement industry, celebrated achievements in wealth creation, growth and individual contribution. The ceremonial lamp lighting was initiated by Deepak Shetty, Former Director General Shipping; Sanjay Bhatia, Upalokayukta, Govt of Maharashtra, Chairman of MultiLogistix Committee; Sumit Banerjee, Director, JSW Cement and Former MD, ACC; Dr Sharmila Amin, MD – South Asia India, Bertling Logistics India; Arif Azal Siddiqui, Founder & Managing Director, Coign Consulting, along with Pratap Padode, Founder, ASAPP Info Global Group & Editor-in-Chief Indian Cement Review; and Falguni Padode, Group Managing Editor, ASAPP Info Global Group. Thereafter, Pratap Padode gave the welcome address and Tanveer Padode, CEO, IMPACCT.info, CIO, ASAPP Info Global Group, and Director, FIRST Infocentre, made a presentation on IMPACCT, an AI infused project intelligence platform.
Along with the Indian Cement Review Awards, the event also witnessed the MultiLogistix Awards 2025 that recognised excellence in the field of logistics.
The lamp lighting ceremony was followed by felicitation of the honourable jury members. They were invited on the stage as they were recognised for their unbiased analysis of the award contenders. They unveiled the Indian Cement Review Annual Issue 2026, which was then distributed to all the attendees as well.

ICR Lifetime Achievement Award 2025

A sentimental picture-perfect moment was created when the winner of the ICR Lifetime Achievement Award Dr Shailendra Chouksey, Former Director, JK Lakshmi Cement and Past President, Cement Manufacturers’ Association (CMA), stepped on the stage to receive the award and invited his family to join him. In his acceptance speech he said, “Thank you so much for giving me this honour. It’s an absolute privilege and I am quite humbled by this.

“Thank you so much for giving me this honour. It’s an absolute privilege and I am quite humbled by this. I’ve had the occasion to work with very senior stalwarts of the industry. And I learned a lot from them, got inspired by them. I believe in what Nelson Mandela said – the glory of life is not in rising and rising, it’s in falling and rising. I’m so grateful that the opportunities that I got through my organisation JK Lakshmi, the industry and the fraternity, as well as the Association (CMA) which gave me opportunities, including their Presidentship for two years, and opportunities to rise, learn and mentor my industry colleagues.”
He further added, “I’ll be failing in my duty, if I don’t acknowledge my family, who have been an absolute support to me.”

ICR Person of the Year Award 2025

The evening’s most prominent recognition, the ICR Person of the Year Award 2025, was conferred jointly on Dr Raghavpat Singhania, Managing Director; and Madhavkrishna Singhania, Joint Managing Director and CEO, JK Cement. The latter received the award and through his speech inspired industry stakeholders to make tangible efforts in achieving Net Zero goals.

In this acceptance speech, Singhania said, “We are humbled and thankful and grateful. In terms of this award, it is happening because of the transformation we have done at JK Cement. This would not have been possible without the hard work and efforts of all our stakeholders at JK Cement, be it our employees, our business partners, our associates. I am truly grateful to all of you for helping in this transformation of the company. While we have got this award of Person of the Year, no transformation takes place in one year. It is always a journey.”
He reflected on the company’s transformation journey and the broader evolution of the Indian cement sector. He began by noting that although JK Cement is a 50-year-old organisation, its true transformation journey began in 2015, driven by the conviction that the company needed to redefine itself. The initial years of this shift were difficult—between 2015 and 2017/18, the company’s performance declined sharply, culminating in one of the lowest EBITDA per tonne figures in the industry. This downturn, he explained, became an opportunity for deep introspection and a return to fundamentals.
Speaking about these fundamentals, he emphasised that success in the Indian cement industry is still anchored in one core principle: being a low-cost producer. In the early years of their transformation, the focus areas were clear—power and fuel efficiency, especially because JK Cement operated several older plants. This realisation triggered a wave of modernisation projects, and today, 95–98 per cent of the company’s capacity comes from new-generation plants, marking a decisive technological upgrade.
He then highlighted how the sector itself has evolved. A decade ago, conversations revolved primarily around efficiency, power, and fuel; today, these have become ‘hygiene’ factors. Modern plants are expected to have waste heat recovery systems, to push thermal substitution rates, and to constantly enhance operational efficiency.
The next major lever of change, he noted, is digitalisation. While the industry has adopted certain digital tools—RFID at plant gates, GPS-enabled vehicle tracking, and incremental improvements in supply chain visibility—it has only scratched the surface of what is possible. He underscored that AI-driven plant operations hold tremendous untapped potential and could unlock a new era of operational optimisation.
As he moved toward concluding remarks, Singhania offered three thoughts for the future. First, he stressed the importance of attracting top talent to what is often perceived as a conventional industry. He argued that cement companies must communicate more effectively about their evolving identity—today, they are key players in circularity, major processors of industrial waste, and operators using over 50 per cent green energy. Positioning the industry as modern, sustainable, and future-ready will be crucial in engaging young professionals.
Second, he addressed the landscape of competition and consolidation. The sector is more competitive than ever, with the top two players aggressively expanding. Drawing parallels with Europe, he noted that scale has become essential for relevance, but growth must be rooted in sound business fundamentals. In this industry, every element—from the quarry to the customer—can be controlled and optimised, except pricing, which reinforces the need to create value across the entire chain.
He further added, “When we talk about decarbonisation, we talk about investing in newer technologies – it is also going to ensure that we continue to remain competitive and also bring down our carbon footprint. Today, we are already the best in the world in terms of per tonne carbon intensity.”

“When we talk about decarbonisation, we talk about investing in newer technologies. Today, we are already the best in the world in terms of per tonne carbon intensity.”

Madhavkrishna Singhania, Jt Managing Director & CEO, JK Cement

Winners of the Indian Cement Review Awards 2025
ICR Person of the Year
Madhavkrishna Singhania,
Jt Managing Director & CEO, JK Cement

ICR Lifetime Achievement Award
Dr Shailendra Chouksey, Former Director, JK Lakshmi Cement

ICR Fastest Growing Company Awards – Large
Rank 1: JK Cement
Rank 2: Ultratech Cement

ICR Fastest Growing Company Awards – Medium
Rank 1: JSW Cement
Rank 2: JK Lakshmi Cement

ICR Fastest Growing Company Awards – Small
Rank 1: Udaipur Cement Works
Rank 2: Shree Digvijay Cement
Rank 3: KCP

Wealth Creator Award – JK Cement
Wealth Creator Award – Ultratech Cement
Wealth Creator Award – Dalmia Bharat
Wealth Creator Award – JK Lakshmi Cement
Green Innovation of the Year – Fuller Technologies (erstwhile FLSmidth Cement)
Green Innovation of the Year – Navozzo Materials
Green Innovation of the Year – Alfa Therm
Product of the Year – ATS Conveyors
Special Jury Recognition – Navocem Infra Industries

Winners of the
MultiLogistix Awards 2025

Multilogistix Person of the Year
Adarsh Hegde, Managing Director, Allcargo Global

Fastest Growing Logistics Companies — Large Transport Corporation of India

Fastest Growing Logistics Companies — Medium
Ritco Logistics

Fastest Growing Logistics Companies — Small AVG Logistics

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Concrete

Fornnax Wins AIRIA’s Special Export Award for Rubber Machinery in 2025-26

Published

5 days ago

October 19, 2026

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Fornnax Technology Pvt. Ltd. has been honoured with the Special Export Award – Rubber Machinery for 2025–26 by the All-India Rubber Industries Association (AIRIA), in recognition of its highest exports of tyre recycling plants to the European region.

With more than a decade of experience in India’s tyre recycling industry, Fornnax has contributed to the development of advanced recycling technologies and infrastructure. The company currently holds a 90% market share in India’s domestic tyre recycling sector, while exports account for 30% of its business, spanning markets such as Europe, Australia and the GCC.

The award marks another milestone for Fornnax, whose tyre recycling lines and advanced shredding technologies are supporting the growth of the circular economy in India and international markets.

Commenting on the recognition, Mr. Jignesh Kundaria, Founder and Director of Fornnax, said:

“This honour from AIRIA is a reflection of an incredible journey we have undertaken over the years. When we started Fornnax, there was no established recycling industry in India to follow. We chose to build for the future instead. Today, when you see India’s tyre recycling sector, it has already transformed into a dynamic, high-growth industry and we are extremely proud to have played our part in building it.”

Unlike standalone equipment suppliers, Fornnax focuses on developing complete, high-capacity recycling infrastructure. Its integrated systems combine multiple stages of shredding and size reduction to enable efficient, continuous operations. This system-level engineering approach helps recycling operators improve throughput, equipment reliability and operational consistency.

The recognition reinforces Fornnax’s commitment to developing engineering technologies that contribute to a more efficient and circular recycling ecosystem.

Looking ahead, the company aims to expand its international presence while continuing to develop advanced shredding and recycling solutions to address the growing volumes and evolving requirements of the global recycling industry.

For more information, visit: www.fornnax.com

Concrete

Wonder Cement appoints Mahesh Singh as VP Corporate Brand Communication

Published

2 weeks ago

October 9, 2026

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Singh brings 20+ years of brand and marketing experience, and will lead integrated corporate brand communication initiatives at Wonder Cement

New Delhi

Wonder Cement, a leading cement manufacturer, has appointed Mahesh Singh as Vice President – Corporate Brand Communication. In his new role, he will oversee corporate brand strategy and communication, including digital and performance marketing, public relations, trade, events, exhibitions, sports and experiential marketing.

Singh brings over two decades of experience across marketing and communications, with roles spanning the automotive industry, agencies and entrepreneurship. He spent more than a decade with Honda Motorcycle & Scooter India, working across integrated communication, media, digital, retail and consumer engagement. His stint also included helping build the company’s digital marketing capabilities.

He moved to dentsu X India as Vice President – Strategy & Planning, working across categories such as automotive, auto components, electric vehicles, FMCG, consumer electronics, BFSI, apparel and brand consulting. His responsibilities included media and marketing strategy, product launches, content, performance marketing and consumer activations.

Singh subsequently took an entrepreneurial route with Radiant Brands before joining Shriram Ltd (SPR Autotech) as Head – Marketing & Communications. There, his remit included brand and corporate strategy, communications, PR and ORM, retail identity, loyalty programmes and events.

At Wonder Cement, Singh will be responsible for bringing together the company’s corporate brand communication initiatives across digital, performance marketing, PR, trade, sports and experiential platforms. The role will focus on creating an integrated approach to communication across consumers, trade partners and other key stakeholders.

The appointment brings to Wonder Cement a marketer whose career has spanned the brand, agency and entrepreneurial sides of the communications ecosystem.

Wonder Cement, part of the RK Group, is a cement manufacturer with roots in Rajasthan and a focus on quality, trust and transparency. The company has grown to six manufacturing plants, and a cement capacity of 21.5 MTPA. With more than 2,000 employees and a network of over 5,000 dealers, its operations span manufacturing, distribution and customer engagement, with a focus on consistent product quality and efficient execution.

Concrete

JSW Cement commissions additional 1 MTPA grinding unit at Nagaur

Published

2 weeks ago

October 8, 2026

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With this commissioning, JSW Cement’s total cement grinding capacity has increased to 25.10 MTPA,
Mumbai

JSW Cement, one of India’s leading green cement producers and part of the diversified JSW Group, today announced the successful commissioning of an additional 1.00 MTPA cement grinding unit at Nagaur, Rajasthan. The commissioning marks another significant milestone in the Company’s growth strategy.

With this commissioning, JSW Cement’s total cement grinding capacity has increased to 25.10 MTPA, while its total clinker manufacturing capacity, including clinker capacity at its joint venture, JSW Cement FZC, stands at 9.74 MTPA.

JSW Cement had commenced operations in North India in March 2026 with the Nagaur Integrated Plant, comprising a 3.30 MTPA clinkerisation unit and 2.50 MTPA cement grinding unit. With the commissioning of the additional 1.00 MTPA cement grinding unit, the plant’s total cement grinding capacity has increased to 3.50 MTPA, enhancing the company’s ability to cater to the growing cement demand across Rajasthan, Haryana, Punjab and the National Capital Region (NCR). The expansion has been funded through a strategic mix of equity and long-term debt.

During the quarter ended 30th September 2026, JSW Cement has also commissioned the Alternate Fuel Handling System and the Waste Heat Recovery system (WHRS) at the Nagaur Integrated Plant.

Nilesh Narwekar, CEO, JSW Cement, said: “The commissioning of additional 1.00 MTPA grinding capacity at Nagaur is a key strategic priority for us and will accelerate JSW Cement’s expansion into North India. We look forward to servicing the growing needs of the region and contributing to the economic growth of Rajasthan, Haryana, Punjab and the NCR area. I am delighted to share that the company has commissioned this grinding unit within the expected timeline, showcasing our project execution capabilities. Further, the Alternate Fuel Handling System and the Waste Heat Recovery system (WHRS) are expected to substantially reduce our production costs going forward.”