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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Shree Digvijay Cement Reports Annual And Quarterly Results

Annual revenue rises as EBITDA expands sequentially

Published

1 day ago

May 5, 2026

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Shree Digvijay Cement Company Limited reported consolidated financial results for the quarter and year ended 31 March 2026, showing higher revenues and improved profitability. Revenue from operations for the quarter was Rs 2,084.7 mn, up from Rs 1,833.4 mn in the prior quarter, while revenue for the year was Rs 7,491.0 mn versus Rs 7,251.5 mn a year earlier. EBITDA for the quarter rose to Rs 251.0 mn from Rs 38.4 mn in the preceding quarter and reached Rs 746.1 mn for the year. Profit after tax for the year was Rs 250.0 mn.

Sales volume for the company s grinding and cement operations was zero point three six four mn t in the quarter and one point four zero three mn t for the year, while traded volumes were zero point zero three mn t in the quarter. EBITDA per tonne improved to Rs637 in the quarter and averaged Rs521 for the year. Under a brand usage, supply and distributorship agreement the company sold 29,928 t of Hi Bond cement, which generated Rs153.6 mn in revenue and Rs20.0 mn in EBITDA during the period.

The company said that it had commenced purchase and distribution of Hi Bond cement effective 19 March 2026 pursuant to the long term distributorship agreement, and that it had paid a refundable security deposit of Rs four bn under the same arrangement. Management indicated that the strategic integration with the Hi Bond network would support future growth and strengthen distribution capabilities. The board cited seasonally higher demand and improved pricing as factors behind the sequential improvement in realisations.

The board recommended a final dividend of Rs one per equity share subject to shareholder approval at the ensuing annual general meeting. The company reiterated focus on sustaining the positive momentum in revenue and margin metrics while integrating the new distributorship, and will continue to monitor market conditions and pricing trends to support further improvement in outcomes.

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Cement Production Up Eight Point Six Per Cent To 491.4 mn t In FY26

Icra Sees Seven To Eight Per Cent Growth In FY27

Published

2 days ago

May 4, 2026

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Icra reported that cement production volumes rose by eight point six per cent in the financial year 2026 to 491.4 million (mn) metric tonne (t). March output was 48.4 mn t, up four per cent year on year on a high base.

The agency projected that volumes are expected to grow by seven to eight per cent in the current financial year, supported by sustained demand from the housing and infrastructure sectors. Average cement prices were reported to have remained flat in March at Rs 340 per bag on a month on month basis, while prices for FY26 increased by two per cent to Rs 345 per bag year on year.

Among inputs, coal prices declined by 17 per cent year on year to USD 102 per t in April 2026 while petcoke prices rose sharply by 19 per cent month on month and 22 per cent year on year to around Rs 15,800 per t in April. Petcoke was higher by about five per cent year on year in FY26 and diesel prices were reported to have remained steady. Icra noted that coal, petcoke and diesel are expected to trend higher in FY27 and remain exposed to risks from the ongoing West Asia conflict.

The report emphasised that operating margins for Icra’s sample set of companies are estimated to moderate by 200 to 400 basis points (bps) in FY27 on account of a likely increase in input costs, with further downside risks should crude prices rise owing to geopolitical tensions. However, debt protection metrics are projected to remain comfortable and Icra maintained a stable outlook on the Indian cement sector.

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UltraTech Cement FY26 PAT Crosses Rs 80 bn

Company reports record sales, profit and 200 MTPA capacity milestone

Published

1 week ago

April 29, 2026

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UltraTech Cement reported record financial performance for Q4 and FY26, supported by strong volumes, higher profitability and improved cost efficiency. Consolidated net sales for Q4 FY26 rose 12 per cent year-on-year to Rs 254.67 billion, while PBIDT increased 20 per cent to Rs 56.88 billion. PAT, excluding exceptional items, grew 21 per cent to Rs 30.11 billion.

For FY26, consolidated net sales stood at Rs 873.84 billion, up 17 per cent from Rs 749.36 billion in FY25. PBIDT rose 32 per cent to Rs 175.98 billion, while PAT increased 36 per cent to Rs 83.05 billion, crossing the Rs 80 billion mark for the first time.

India grey cement volumes reached 42.41 million tonnes in Q4 FY26, up 9.3 per cent year-on-year, with capacity utilisation at 89 per cent. Full-year India grey cement volumes stood at 145 million tonnes. Energy costs declined 3 per cent, aided by a higher green power mix of 43 per cent in Q4.

The company’s domestic grey cement capacity has crossed 200 MTPA, reaching 200.1 MTPA, while global capacity stands at 205.5 MTPA. UltraTech also recommended a special dividend of Rs 2.40 billion per share value basis equivalent to Rs 240.