India Cements
India Cements is an Indian cement manufacturer headquartered in Chennai, with major operations in southern India.
Last updated August 26, 2026
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Overview
India Cements is an Indian cement manufacturing company headquartered in Chennai, Tamil Nadu. Established in 1946 by S. N. N. Sankaralinga Iyer, the company began industrial production with its first plant at Thalaiyuthu in Tamil Nadu in 1949. It developed into one of the important cement producers in southern India, building manufacturing capacity across Tamil Nadu, Andhra Pradesh and Telangana and later extending its footprint through subsidiaries and grinding operations in other Indian states. The company’s business is centered on the production and sale of cement and related building materials. Its principal consumer-facing and trade brands include Sankar Cement, Coromandel Cement and Raasi Gold. India Cements has operated integrated cement plants as well as grinding units, allowing it to combine production of clinker and cement with regional distribution. The reference material describes seven integrated plants in Tamil Nadu, Telangana and Andhra Pradesh, an additional plant in Rajasthan through its subsidiary Trinetra Cement, and grinding units in Tamil Nadu and Maharashtra. The cited production capacity is approximately 15.6 million tonnes per year. A major phase of expansion occurred in the late 1990s. Under the leadership of N. Srinivasan, India Cements pursued the acquisition of Raasi Cements and subsequently Sri Vishnu Cements. The Raasi transaction was one of the most prominent hostile takeover battles in India’s cement sector. India Cements first accumulated a substantial stake in Raasi, then reached an agreement to purchase the promoter holding associated with B. V. Raju in 1998. The acquisition substantially increased India Cements’ production capacity and strengthened its position in the southern Indian market. The later absorption of Sri Vishnu Cements further consolidated those assets. India Cements also became prominent outside manufacturing through its relationship with cricket. The company directly owned the Chennai Super Kings franchise in the Indian Premier League from 2008. Following a 2015 Supreme Court ruling that invalidated a BCCI constitutional provision permitting certain board officials to hold commercial interests in cricket competitions, ownership of the franchise was transferred to a separate company, Chennai Super Kings Cricket Limited. This restructuring separated the cricket franchise from India Cements, although the company and its senior leadership remained closely associated with the team in public discussion. The company and its leadership also attracted controversy over alleged investments involving Jagati Publications and Bharati Cements, businesses associated with Y. S. Jaganmohan Reddy. The available reference describes these investments as alleged controversial transactions; it does not establish a final finding here. In July 2024, UltraTech Cement acquired a majority stake in India Cements. The transaction placed India Cements within UltraTech’s broader cement portfolio while leaving the Chennai Super Kings ownership structure separate. India Cements therefore remains an active cement brand and operating business, but its ownership and strategic context changed materially after the UltraTech transaction.
History
India Cements was established in 1946 by S. N. N. Sankaralinga Iyer, during the formative period of India’s post-independence industrial development. Its first cement plant was established at Thalaiyuthu in Tamil Nadu and began operating in 1949. From this initial southern Indian base, the company expanded its manufacturing and distribution network across the principal cement-consuming markets of the region. Over time, India Cements developed an integrated production network comprising cement plants and grinding facilities. The company’s operations came to include plants in Tamil Nadu, Andhra Pradesh and Telangana, with further capacity in Rajasthan through Trinetra Cement and grinding operations in Tamil Nadu and Maharashtra. This geographic configuration enabled the company to produce clinker and cement while serving regional construction markets through established brands. The company’s principal brands have included Sankar Cement, Coromandel Cement and Raasi Gold. The most important strategic transformation in the company’s earlier history came in the late 1990s. India Cements pursued Raasi Cements in a contested takeover effort and accumulated an initial stake through market purchases and a private transaction. In 1998, it reached an agreement to acquire the promoter holding associated with B. V. Raju. The transaction substantially increased India Cements’ scale and made it the second-largest cement producer in India according to the supplied reference. India Cements subsequently acquired Sri Vishnu Cements, completing a broader consolidation of cement assets and production capacity in southern India. The company’s public profile was also shaped by its association with cricket. India Cements directly owned the Chennai Super Kings franchise from the beginning of the Indian Premier League in 2008. In January 2015, the Supreme Court of India struck down a controversial amendment to the BCCI constitution that had permitted board officials to maintain commercial interests in the IPL and Champions League T20. In response to the governance and conflict-of-interest context, ownership of the franchise was transferred to Chennai Super Kings Cricket Limited, a separate entity. This transaction separated the cricket asset from India Cements’ direct ownership. India Cements and its leadership were additionally associated with allegations concerning investments in Jagati Publications and Bharati Cements, entities linked in the supplied material to Y. S. Jaganmohan Reddy. These allegations formed part of the wider scrutiny surrounding business and political relationships in Andhra Pradesh. The available reference does not provide sufficient detail to characterize the ultimate legal outcome and therefore the matter is recorded as an allegation rather than a concluded finding. By the 2020s, the company was described as a significant listed Indian cement producer, with cited capacity of approximately 15.6 million tonnes per annum. In July 2024, UltraTech Cement acquired a majority stake in India Cements. The acquisition marked a new phase in the company’s corporate history, placing it under UltraTech’s ownership while keeping the Chennai Super Kings ownership arrangement separate. India Cements continues to be identified with cement manufacturing and with the established regional brands developed during its long operating history.
- 2024
UltraTech Cement acquired majority control
[1]UltraTech Cement acquired a majority stake in India Cements, changing the company’s ownership while leaving Chennai Super Kings as a separate entity.
- 2015
Chennai Super Kings ownership transferred
[1]Following a Supreme Court ruling concerning BCCI conflict-of-interest rules, ownership of the franchise was transferred to Chennai Super Kings Cricket Limited.
- 2008
Direct ownership of Chennai Super Kings began
[1]India Cements became the direct owner of the Chennai Super Kings Indian Premier League franchise.
- 1999
Sri Vishnu Cements acquisition
[1]India Cements completed the subsequent acquisition of Sri Vishnu Cements.
- 1998
Raasi Cements acquisition
[1]India Cements acquired the promoter holding in Raasi Cements after accumulating an initial stake, significantly expanding its southern Indian cement operations.
- 1949
First plant began operation at Thalaiyuthu
[1]The company’s first cement plant was set up at Thalaiyuthu in Tamil Nadu.
- 1946
India Cements established
[1]S. N. N. Sankaralinga Iyer established India Cements in India.
Products and positioning
A large Indian cement manufacturer with a strong historical presence in southern India, serving construction, infrastructure and building-material markets through multiple regional cement brands.
Cement
Sankar Cement
Sankar Cement is one of India Cements’ established cement brands. It is associated with the company’s southern Indian manufacturing and distribution network and is sold for general construction and building applications.
Cement
Coromandel Cement
Coromandel Cement is a regional cement brand owned by India Cements. The brand forms part of the company’s portfolio for construction and infrastructure customers in the markets served by its plants and distribution channels.
Cement
Raasi Gold
Raasi Gold is a cement brand associated with India Cements following the company’s acquisition of Raasi Cements. It represents one of the regional brands retained within India Cements’ broader cement portfolio.
Controversies
Alleged investments linked to Jagati Publications and Bharati Cements
India Cements was alleged to have made controversial investments in Jagati Publications and Bharati Cements, which were associated with Y. S. Jaganmohan Reddy. The supplied reference does not establish a definitive legal conclusion, so the matter is recorded as an allegation.
Brand decisions
2024
UltraTech Cement majority acquisitionM&ABackground
UltraTech Cement pursued majority ownership of India Cements as part of the consolidation of India’s cement industry.
Action taken
UltraTech Cement acquired a majority stake in India Cements.
Aftermath
India Cements became part of UltraTech Cement’s broader ownership structure, while Chennai Super Kings continued to operate through its separate entity.
2015
Separated Chennai Super Kings ownership from India CementsStrategyBackground
The Supreme Court of India invalidated a BCCI constitutional amendment that had allowed board officials to hold commercial interests in the IPL and Champions League T20.
Action taken
India Cements transferred ownership of the Chennai Super Kings franchise to Chennai Super Kings Cricket Limited.
Aftermath
The franchise became owned through a separate entity rather than directly by India Cements.
1999
Acquisition of Sri Vishnu CementsM&ABackground
The acquisition followed the Raasi Cements transaction and continued India Cements’ consolidation of cement capacity in southern India.
Action taken
India Cements acquired Sri Vishnu Cements.
Aftermath
The transaction further expanded the assets and production capacity under India Cements’ control.
1998
Hostile takeover of Raasi CementsM&ABackground
India Cements sought to expand its scale and strengthen its position in southern India through a contested acquisition of Raasi Cements.
Action taken
The company accumulated an initial stake and then agreed to purchase the promoter holding associated with B. V. Raju, completing a major acquisition.
Aftermath
The transaction materially increased India Cements’ production capacity and contributed to its emergence as a major southern Indian cement producer.
Recent events
India Cements reports Q1 FY21 earnings[2]
Reported:
India Cements reported results for the quarter ended June 30, 2020, including EBITDA of Rs. 159 crore and profit before tax of Rs. 26 crore; the company attributed lower volumes to the pandemic.
Sources2 sources
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