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
