Shree Cements Share Price

Shree Cements stands as a prominent leader in India's cement manufacturing industry, renowned for its top-notch products and innovative practices. Established in 1979, the company has consistently embraced cutting-edge technologies, earning a prominent position in the cement sector.

Since its inception, Shree Cements has remained steadfast in its commitment to sustainable and inclusive growth. This dedication is fostered through a culture that fosters continuous improvement, innovation, care, and collaboration. Such values drive operational excellence, enhancing the quality of products, processes, and people. As a result, the company has garnered a reputation for exceptional customer care and expanded its market reach across India and the Middle East.

Shree Cement stands as a force to be reckoned with with a total cement production capacity of 47.4 million tonnes per year, including a substantial power generation capacity of 752 megawatts and overseas operations.

The company operates across India and the UAE, operating four integrated plants in India and one in the UAE, along with nine grinding units. Shree Cement has also been a trailblazer in adopting alternate fuel resources for cement production, boasting the second-highest installed capacity of Waste Heat Recovery Power plants globally, just behind China.

While their past performance has been remarkable, Shree Cement maintains a culture that shuns complacency. Instead, they embrace challenges as opportunities to gain a competitive edge. Their willingness to break new grounds, create synergies, and set new benchmarks propels them towards continuous progress and success.
 

History and Milestones 

Shree Cement was founded by BG Bangur in 1979. Their first plant in Rajasthan was commissioned in 1983, and production commenced in 1985. Originally a family business, the Bangur family gained complete control over the enterprise in 1995. The company's current head, 70-year-old Hari Mohan Bangur, joined his father in 1975 after graduating from IIT Bombay. In 2003, Prashant Bangur, HM Bangur's son, was also incorporated into the business.

In November 2019, the company successfully raised ₹2,399.99 crore through a qualified institutional program at a share price of ₹19,806.46. Two years later, in September 2021, following the fund-raising, the company disclosed its plan to invest ₹4,750 crore as part of its capex expansion strategy until FY 2024. The investment includes commissioning an integrated cement plant in Nawalgarh, Rajasthan, expected to be operational by December 2023. The Rajasthan plant comprises a 3.8 MTPA clinker and 3.5 MTPA cement facility. Additionally, the capex covers a clinker plant of capacity 3 MTPA near Purulia, West Bengal. 

Awards and Recognitions

Shree Cements' unwavering commitment to quality, sustainability, and innovation has earned it numerous accolades and recognition in the industry. Some of the prestigious awards the company has received include:

● CII Strong Commitment to HR Excellence 2019 
● Best in Cement and Building Materials by GPTW India 2020 
● India’s Top 100 Places to Work For by GPTW India 2020
● Great Place to Work Certified by GPTW India 2020
● Golden Peacock Award for HR Excellence 2019
● Best Employer of 2018 by The Employers Association of Rajasthan 
● ICC Corporate Governance and Sustainability Vision 2020 
● Global Sustainability Award 2019
● CII SCALE Logistics and Supply Chain Excellence 2019 
● Best Quality Excellence 2018-19 by NCCBM
● Best Risk Management Framework and Systems Sustainability by India Risk Management
● State CSR Excellence Award 2019 by The Government of Rajasthan 
● Bhamashah Samman 2019 for CSR by The Government of Rajasthan
● Industry Champion Award 2019 by Rajasthan Chamber of Commerce and Industry 

Important Facts 

Owner: The House of Bangurs
Number of employees: 6,185 
Total equity: ₹18,677 crore (US$2.3 billion)
Total assets: ₹26,334 crore (US$3.3 billion) 
Website: shreecement.com

According to Mr. H.M. Bangur, the Managing Director of Shree Cement Ltd., the company is highly optimistic ('bullish') and actively establishing new factories. The upcoming projects include the Puralia plant in West Bengal, which is expected to be completed by March 2023, and a larger plant in Rajasthan with an estimated cost of ₹3,500 crore, scheduled for completion between December 2023 and March 2024. Additionally, a new plant in Andhra Pradesh has just begun and is anticipated to be finished by March 2024. 

The collective investment for these projects amounts to approximately ₹6,500 crore, contributing a total of 10 million tonnes (mt) to the overall cement production capacity. The current total production stands at 57 mt. Shree Cement's ambitious goal is to achieve a production capacity of 80 mt by the year 2030.