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Compliance and growth go hand in h and

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Pankaj Kejriwal, Whole Time Director and COO, Star Cement, on driving efficiency today and designing sustainability for tomorrow.

In an era where the cement industry is under growing pressure to decarbonise while scaling capacity, Star Cement is charting a pragmatic yet forward-looking path. In this conversation, Pankaj Kejriwal, Whole Time Director and COO, Star Cement, shares how the company is leveraging waste heat recovery, alternative fuels, low-carbon products and clean energy innovations to balance operational efficiency with long-term sustainability.

How has your Lumshnong plant implemented the 24.8 MW Waste Heat Recovery System (WHRS), and what impact has it had on thermal substitution and energy costs?
Earlier, the cost of coal in the Northeast was quite reasonable, but over the past few years, global price increases have also impacted the region. We implemented the WHRS project about five years ago, and it has resulted in significant savings by reducing our overall power costs.
That is why we first installed WHRS in our older kilns, and now it has also been incorporated into our new projects. Going forward, WHRS will be essential for any cement plant. We are also working on utilising the waste gases exiting the WHRS, which are still at around 100 degrees Celsius. To harness this residual heat, we are exploring systems based on the Organic Rankine Cycle, which will allow us to extract additional power from the same process.

With the launch of Star Smart Building Solutions and AAC blocks, how are you positioning yourself in the low-carbon construction materials segment?
We are actively working on low-carbon cement products and are currently evaluating LC3 cement. The introduction of autoclaved aerated concrete (AAC) blocks provided us with an effective entry into the consumer-facing segment of the industry. Since we already share a strong dealer network across products, this segment fits well into our overall strategy.
This move is clearly supporting our transition towards products with lower carbon intensity and aligns with our broader sustainability roadmap.

With a diverse product portfolio, what are the key USPs that enable you to support India’s ongoing infrastructure projects across sectors?
Cement requirements vary depending on application. There is OPC, PPC and PSC cement, and each serves different infrastructure needs. We manufacture blended cements as well, which allows us to supply products according to specific project requirements.
For instance, hydroelectric projects, including those with NHPC, have their own technical norms, which we are able to meet. From individual home builders to road infrastructure, dam projects, and regions with heavy monsoon exposure, where weather-shield cement is required, we are equipped to serve all segments. Our ability to tailor cement solutions across diverse climatic and infrastructure conditions is a key strength.

How are you managing biomass usage, circularity, and waste reduction across
your operations?

The Northeast has been fortunate in terms of biomass availability, particularly bamboo. Earlier, much of this bamboo was supplied to paper plants, but many of those facilities have since shut down. As a result, large quantities of bamboo biomass are now available, which we utilise in our thermal power plants, achieving a Thermal Substitution Rate (TSR) of nearly 60 per cent.
We have also started using bamboo as a fuel in our cement kilns, where the TSR is currently around 10 per cent to 12 per cent and is expected to increase further. From a circularity perspective, we extensively use fly ash, which allows us to reuse a major industrial waste product. Additionally, waste generated from HDPE bags is now being processed through our alternative fuel and raw material (AFR) systems. These initiatives collectively support our circular economy objectives.

As Star Cement expands, what are the key logistical and raw material challenges you face in scaling operations?
Fly ash availability in the Northeast is a constraint, as there are no major thermal power plants in the region. We currently source fly ash from Bihar and West Bengal, which adds significant logistics costs. However, supportive railway policies have helped us manage this challenge effectively.
Beyond the Northeast, we are also expanding into other regions, including the western region, to cater to northern markets. We have secured limestone mines through auctions and are now in the process of identifying and securing other critical raw material resources to support this expansion.

With increasing carbon regulations alongside capacity expansion, how do you balance compliance while sustaining growth?
Compliance and growth go hand in hand for us. On the product side, we are working on LC3 cement and other low-carbon formulations. Within our existing product portfolio, we are optimising operations by increasing the use of green fuels and improving energy efficiency to reduce our carbon footprint.
We are also optimising thermal energy consumption and reducing electrical power usage. Notably, we are the first cement company in the Northeast to deploy EV tippers at scale for limestone transportation from mines to plants. Additionally, we have installed belt conveyors for limestone transfer, which further reduces emissions. All these initiatives together help us achieve regulatory compliance while supporting expansion.

Looking ahead to 2030 and 2050, what are the key innovation and sustainability priorities for Star Cement?
Across the cement industry, carbon capture is emerging as a major focus area, and we are also planning to work actively in this space. In parallel, we see strong potential in green hydrogen and are investing in solar power plants to support this transition.
With the rapid adoption of solar energy, power costs have reduced dramatically – from 10–12 per unit to around2.5 per unit. This reduction will enable the production of green hydrogen at scale. Once available, green hydrogen can be used for electricity generation, to power EV fleets, and even as a fuel in cement kilns.
Burning green hydrogen produces only water and oxygen, eliminating carbon emissions from that part of the process. While process-related CO2 emissions from limestone calcination remain a challenge, carbon capture technologies will help address this. Ultimately, while becoming a carbon-negative industry is challenging, it is a goal we must continue to work towards.

Concrete

JK Cement Declared Preferred Bidder For Gilund Limestone Block

Shares Edge Higher As Company Wins Rajasthan Block

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JK Cement gained after being declared preferred bidder for the Gilund Limestone Block in Chittorgarh, Rajasthan, a lease area of 370.96 hectares. The firm saw its shares trade at Rs. 5550.05, up by 28.45 points or 0.52 per cent from the previous close of Rs. 5521.60 on the BSE. The scrip opened at Rs. 5569.15 and touched a high of Rs. 5625.00 and a low of Rs. 5531.00.

The stock recorded turnover of 1742 shares on the counter and the BSE group A stock with face value Rs. 10 has a 52 week high of Rs. 7565.00 on 20-Aug-2025 and a 52 week low of Rs. 4670.05 on 12-Jun-2026. Last one week high and low stood at Rs. 5625.00 and Rs. 5329.00 respectively. The promoters holding in the company stood at 45.66 per cent, while institutions and non-institutions held 40.61 per cent and 13.73 per cent respectively.

The e-auction conducted by the Government of Rajasthan resulted in the company being declared preferred bidder for the mining lease, and the allocation will enable the company to plan phased development of the deposit, subject to regulatory approvals. The Gilund block spans 370.96 hectares and its allocation is intended to support raw material security for the company’s cement operations in the region. The designation follows the government auction process and will allow the company to plan development and integration of the deposit into its supply chain.

The current market capitalisation stands at Rs. 430.38 billion (bn), reflecting market response to the mining news and prevailing valuation levels for the sector. Investors and analysts will watch for formal allotment and related disclosures that can clarify timelines, capital expenditure and expected production profiles. The report is intended for informational purposes and does not constitute investment advice, and market participants are advised to consult advisers before making decisions.

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Concrete

Star Cement Named Preferred Bidder For Boro Lakhindong Block

Preferred bidder for limestone mining lease in Assam

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Star Cement has been declared the preferred bidder for the mining lease for Boro Lakhindong West Block following e-auctions conducted by the Government of Assam. The block is located in Boro Lakhindong Village, Umrangso Tehsil, Dima Hasao District, Assam, and extends over an area of 123 hectares. The estimated limestone resource is 207.822 million (mn) tonnes (t), a quantity that will supply raw material for cement production and support the company’s manufacturing operations in the region.

The company is engaged in the manufacturing and selling of cement clinker and cement and distributes products across the north-eastern and eastern states of India. Star Cement operates plants and logistics networks that procure and process limestone to produce clinker for cement, and the addition of Boro Lakhindong is presented as a strategic enhancement of feedstock availability. The preferred bidder status secures rights to the specified lease area under the terms of the auction process.

Financial results for the company in the fourth quarter of fiscal year 2026 showed a consolidated net profit rise of 20.24 per cent to Rs 1,481.0 mn on an 11.54 per cent increase in revenue to Rs 11,735.5 mn compared with the corresponding quarter of the previous year. Those results reflected higher sales volumes and revenue growth in the company’s primary markets and are cited in company disclosures accompanying the lease announcement. The reported performance provides context to the company’s ability to pursue and finance new mining lease opportunities.

Market reaction to the declaration was modest, with the scrip rising zero point thirty six per cent to trade at Rs 212 on the BSE. The award of the Boro Lakhindong lease concludes the e-auction process for the west block and assigns operational rights to Star Cement as the preferred bidder, subject to completion of statutory and contractual formalities.

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Concrete

KERC Proposal To Cut Rooftop Solar Export Tariff Raises Concern

Consumers and advocates urge regulator to reconsider change

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The Karnataka Electricity Regulatory Commission (KERC) has proposed a reduction in the tariff paid for surplus electricity that rooftop solar installations export to the grid, prompting concern among consumers, renewable energy advocates and industry specialists. The proposal arrives while the Central government and state governments are promoting clean energy adoption and offering subsidy schemes to encourage rooftop solar deployment. Thousands of households in Karnataka, particularly in Bengaluru, have invested substantial sums in rooftop systems to reduce reliance on conventional power and support state renewable targets.

Stakeholders have raised questions about the implications of a lower export tariff for the financial attractiveness of rooftop solar investments and the pace of the state transition to renewables. Industry analysts warned that a reduction in compensation for excess generation could discourage new installations and extend payback periods for existing systems. Current messaging from authorities, which simultaneously promotes adoption while proposing lower export rates, has been described by user groups as creating contradictory signals for consumers.

Experts argued that policy measures should focus on grid modernisation rather than reducing consumer benefits, with investments in transmission and distribution networks needed to manage higher volumes of distributed solar generation. Consumer groups and renewable advocates are preparing written submissions to the regulator and are urging retention of incentives that support household adoption of rooftop systems. KERC has invited public objections and suggestions as part of a consultation process that will determine the final tariff framework.

The outcome of the consultation is expected to influence the future growth of rooftop solar across the state and shape investor confidence in small-scale renewable projects. Residents who have already installed rooftop panels are monitoring developments closely because changes to compensation mechanisms may affect household finances and the speed of return on investment. Observers noted that coherent policy, aligned incentives and grid upgrades would be essential to sustain momentum in the rooftop solar sector.

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