Concrete

Indian Cement Review Awards 2023

Published

3 years ago

March 15, 2023

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The 36-year-old Indian Cement Review has been the business bible for the industry for decades. And the Awards are an integral part of the publication’s standing. This year, the success story repeated itself. From putting together an eminent jury panel and a stringent screening process to handing over the trophies to the esteemed winners, it was an inspiring journey all along for the 6th Indian Cement Review Awards 2023. ICR presents to you glimpses from the evening of celebrations.

The 6th Indian Cement Review Awards 2023 were held along with the 8th Indian Cement Review Conference and the 13th Cement Expo at Sheraton Hotel, Hyderabad on the 24th of February, 2023. The process of evaluation of participating companies started two months prior to the awards when the ICR jury panel was given the mandate of analysing the performances of various cement manufacturers during 2021-22.
The jury panel for the 6th Indian Cement Review Awards 2023 included:

Ashok Kumar Dembla, President & Managing Director, Humboldt Wedag India
Rajesh Pathak, Managing Director, Schenck Process India
Dheepan Ramalingam, Managing Director, Ringfeeder Power Transmission
Dr B N Mohapatra, Director General, NCB
Rajeev Toshniwal, Managing Director, Toshniwal Industries
Ganesh Jirkuntwar, Head Manufacturing, Dalmia Cement
Rajnish Kapur, Chief Operating Officer, J.K Cement
Ashwini Pahuja, Former Chief Sustainability Officer, Dalmia Cement (Bharat)
Vivek Bhatia, Managing Director, Thyssenkrupp Industries

KC Jhanwar,
Managing Director, UltraTech
Man of the Year 2022-23

The awards were given away by Pratap Padode, Founder & President, FIRST Construction Council, invited Sumit Bannerjee, Chairman, Editorial Advisory Board, Indian Cement Review, as the hostess for the evening announced each winning company’s name and its attributes.
KC Jhanwar, Managing Director, UltraTech, was bestowed with the Man of the Year 2022-23 Award. Although he was unable to join the event personally, his heartfelt acceptance speech was delivered to the audience. His stellar journey and achievements in the Indian cement industry continue to inspire business leaders across the country.

As the winners gathered on the stage for a picture-perfect moment with their trophies in hand, the evening progressed towards cocktails and dinner, bringing the curtains down on a highly engaging and successful day with the stalwarts of the Indian cement industry.

Large Category (Turnover over Rs 5,000 cr)
Fastest Growing Cement Companies
Ranking Company Name Designation
1 Ultratech Maccha Rao National Sales Head
2 JK Cement Kedar M Shahagadkar Vice President , Cluster Head
3 JK Lakshmi Cement Naveen Kumar Sharma Whole Time Director
3 Dalmia Bharat Mukesh Kumar Sinha Unit Head – Kadapa

Medium Category (Turnover between Rs 2,000 cr and Rs 5,000 cr )
Fastest Growing Cement Companies

1 JSW Cement Nilesh Narwekar CEO
2 Star Cement Surender Kumar Jain AVP- Commercial & Administration

Small Category (Turnover under Rs 2,000 cr )
Fastest Growing Cement Companies

1 Udaipur Cement Works Naveen Kumar Sharma Whole Time Director
2 Shree Digvijay Cement K K Rajeev Nambiar CEO, Managing Director

Presenting Partner
ExxonMobil Lubricants Private Limited
Gold Sponsor
JK Cement Limited
PhillipCapital India Pvt Ltd
Silver Sponsor
LiuGong India Pvt Ltd
Associate Sponsor
Humboldt Wedag India Pvt Ltd
Presentation Partners
Martin Engineering Company
India Pvt. Ltd.
Beumer India Pvt Ltd
Ecodea Projects & Control Private Limited
Logo Sponsor
Stotz Gears Private Limited

Quote

Truly honoured and humbled at receiving this award from the Indian Cement Review! After looking at the jury members, it is truly humbling that they recognised the effort and the growth. Mr Patode spoke about the methodology used to determine the winners and he mentioned the six-year window. I remember how big we were six years ago – from a 6.2 or 6.3 MT capacity to currently around 21 MT has been quite a journey for us. I would give the entire credit for this to my team who have put in all the hard work. It hasn’t been that easy. But we have learnt a lot, loved the journey and we look forward to having a more aggressive growth path going ahead.”

***K K Rajeev Nambiar, CEO and Managing Director, Shree Digvijay Cement***

It’s a very exciting moment for us; it’s exciting to see this category. In this industry, the focus is always on the biggies. This award brings the focus to companies like us who have a high appetite in terms of sustainability, growth and profitability. The excitement at winning the award is great!

***Mukesh Kumar Sinha, Unit Head – Kadapa, Dalmia Bharat***

Thank you to the jury for choosing Dalmia in the large category. Dalmia family is truly cherishing this moment. Kudos to Dalmia family for achieving this goal! Dalmia team on an excellent journey of sustainably making cement, and we are partnering the progress of new India. This journey will go on and on with new heights and new achievements.”

**Kedar M Shahagadkar, Vice President and Cluster Head, JK Cement**

It feels really great to get this award. This award acknowledges the fact that the able leadership and guidance of our managing director, Raghavji Singhania, and our CEO, Madhavji Singhania. The guidance and mentorship that they provide fuels a lot of good things in the team that has been building over the years. This award really shows that the leadership team is driving the business in a consistent way. It feels really nice to be here as apart from the cement companies all the key stakeholders of the industry are all here. To be rewarded amongst them feels really nice!

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NBCC Wins Rs 550m IOB Office Project In Raipur

PMC Contract Covers Design, Execution And Handover

Published

4 days ago

January 20, 2026

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State-owned construction major NBCC India Ltd has secured a new domestic work order worth around Rs 550.2 million from Indian Overseas Bank (IOB) in the normal course of business, according to a regulatory filing.

The project involves planning, designing, execution and handover of IOB’s new Regional Office building at Raipur. The contract has been awarded under NBCC’s project management consultancy (PMC) operations and excludes GST.

NBCC said the order further strengthens its construction and infrastructure portfolio. The company clarified that the contract is not a related party transaction and that neither its promoter nor promoter group has any interest in the awarding entity.

The development has been duly disclosed to the stock exchanges as part of NBCC’s standard compliance requirements.

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Nuvoco Q3 EBITDA Jumps As Cement Sales Hit Record

Premium products and cost control lift profitability

Published

5 days ago

January 19, 2026

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Nuvoco Vistas Corp. Ltd reported a strong financial performance for the quarter ended 31 December 2025 (Q3 FY26), driven by record cement sales, higher premium product volumes and improved operational efficiencies.

The company achieved its highest-ever third-quarter consolidated cement sales volume of 5 million tonnes, registering growth of 7 per cent year-on-year. Consolidated revenue from operations rose 12 per cent to Rs 27.01 billion during the quarter. EBITDA increased sharply by 50 per cent YoY to Rs 3.86 billion, supported by improved pricing and cost management.

Premium products continued to be a key growth driver, sustaining a historic high contribution of 44 per cent for the second consecutive quarter. The strong momentum reflects rising brand traction for the Nuvoco Concreto and Nuvoco Duraguard ranges, which are increasingly recognised as trusted choices in building materials.

In the ready-mix concrete segment, Nuvoco witnessed healthy demand traction across its Concreto product portfolio. The company launched Concreto Tri Shield, a specialised offering delivering three-layer durability and a 50 per cent increase in structural lifespan. In the modern building materials category, the firm introduced Nuvoco Zero M Unnati App, a digital loyalty platform aimed at improving influencer engagement, transparency and channel growth.

Despite heavy rainfall affecting parts of the quarter, the company maintained improved performance supported by strong premiumisation and operational discipline. Capacity expansion projects in the East, along with ongoing execution at the Vadraj Cement facilities, remain on track. The operationalisation of the clinker unit and grinding capacity, planned in phases starting Q3 FY27, is expected to lift total cement capacity to around 35 million tonnes per annum, reinforcing Nuvoco’s position as India’s fifth-largest cement group.

Commenting on the results, Managing Director Mr Jayakumar Krishnaswamy said Q3 marked strong recovery and momentum despite economic challenges. He highlighted double-digit volume growth, premium-led expansion and a 50 per cent rise in EBITDA. The company also recorded its lowest blended fuel cost in 17 quarters at Rs 1.41 per Mcal. Refurbishment and project execution at the Vadraj Cement Plant are progressing steadily, which, along with strategic capacity additions and cost efficiencies, is expected to strengthen Nuvoco’s long-term competitive advantage.

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Cement Industry Backs Co-Processing to Tackle Global Waste

Industry bodies recently urged policy support for cement co-processing as waste solution

Published

1 week ago

January 15, 2026

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Leading industry bodies, including the Global Cement and Concrete Association (GCCA), European Composites Industry Association, International Solid Waste Association – Africa, Mission Possible Partnership and the Global Waste-to-Energy Research and Technology Council, have issued a joint statement highlighting the cement industry’s potential role in addressing the growing global challenge of non-recyclable and non-reusable waste. The organisations have called for stronger policy support to unlock the full potential of cement industry co-processing as a safe, effective and sustainable waste management solution.

Co-processing enables both energy recovery and material recycling by using suitable waste to replace fossil fuels in cement kilns, while simultaneously recycling residual ash into the cement itself. This integrated approach delivers a zero-waste solution, reduces landfill dependence and complements conventional recycling by addressing waste streams that cannot be recycled or are contaminated.

Already recognised across regions including Europe, India, Latin America and North America, co-processing operates under strict regulatory and technical frameworks to ensure high standards of safety, emissions control and transparency.

Commenting on the initiative, Thomas Guillot, Chief Executive of the GCCA, said co-processing offers a circular, community-friendly waste solution but requires effective regulatory frameworks and supportive public policy to scale further. He noted that while some cement kilns already substitute over 90 per cent of their fuel with waste, many regions still lack established practices.

The joint statement urges governments and institutions to formally recognise co-processing within waste policy frameworks, support waste collection and pre-treatment, streamline permitting, count recycled material towards national recycling targets, and provide fiscal incentives that reflect environmental benefits. It also calls for stronger public–private partnerships and international knowledge sharing.

With global waste generation estimated at over 11 billion tonnes annually and uncontrolled municipal waste projected to rise sharply by 2050, the signatories believe co-processing represents a practical and scalable response. With appropriate policy backing, it can help divert waste from landfills, reduce fossil fuel use in cement manufacturing and transform waste into a valuable societal resource.