Shree Cement
An Indian cement and building-materials company with integrated manufacturing, grinding, captive power, and ready-mix concrete operations.
Last updated August 27, 2026
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Overview
Shree Cement is an Indian building-materials company founded in 1979 in Beawar, Rajasthan. Its principal business is the manufacture and sale of cement and clinker, supported by integrated cement plants, grinding units, logistics infrastructure, and captive and merchant power generation. The company is headquartered in Kolkata and has developed from a regional Rajasthan producer into one of India's largest cement groups by installed capacity. The company began commercial production in the 1980s, commissioning its first plant at Beawar in 1983 and starting cement production there in 1985. The Bangur family consolidated control in 1995, and the business subsequently expanded through capacity additions, grinding facilities, acquisitions, and process investments. Hari Mohan Bangur, a graduate of IIT Bombay and the son of Benu Gopal Bangur, became the principal leader of the company. Prashant Bangur, Hari Mohan Bangur's son, joined the business in 2003. Shree Cement's product portfolio is centered on ordinary Portland cement, blended cement such as Portland pozzolana cement, and clinker used both internally and sold to other customers. Its cement brands and product lines serve residential construction, commercial buildings, infrastructure, and other civil-engineering applications. In addition to cement, the company operates power-generation activities under the Shree Power and Shree Mega Power names. Much of this power supports manufacturing operations, while some electricity is sold externally. Expansion has included the acquisition of a grinding unit in Panipat, Haryana, in 2014 and the purchase of UAE-based Union Cement in 2018. The Union Cement transaction gave Shree Cement an overseas manufacturing platform in Ras Al Khaimah with stated capacity of 4 million tonnes per annum. The company also raised capital through a qualified institutional placement in 2019 and continued adding kiln and grinding capacity in Rajasthan, West Bengal, Uttar Pradesh, Karnataka, and Andhra Pradesh. In 2024, it entered the ready-mix concrete segment, broadening its participation in construction materials beyond conventional cement. As described in the referenced company profile, Shree Cement had 62.8 million tonnes per annum of cement capacity in India and 4 million tonnes per annum in the United Arab Emirates as of 2025. Its Indian network included integrated and grinding units in 18 locations, while total installed power capacity was approximately 1 gigawatt. Capacity figures can change as projects are commissioned, expanded, or reclassified, so they should be read as time-specific operating information rather than a permanent corporate characteristic. The company is commonly associated with an efficiency-focused operating model, scale expansion, and efforts to integrate energy generation into its manufacturing system. Its environmental and operational initiatives are relevant to a cement industry exposed to high fuel, electricity, transportation, and carbon costs. At the same time, safety incidents have generated serious scrutiny. Fatal accidents occurred during construction of the Kodla factory in Karnataka in 2018, and additional worker deaths at the same site in 2024 and 2025 led to investigations and criminal arrests after a worker's body was reportedly removed from the premises. These incidents form an important part of the brand's public record and demonstrate the operational risks surrounding large cement projects.
History
Shree Cement was incorporated in 1979 by Benu Gopal Bangur, with its origins in Beawar, Rajasthan. The company commissioned its first manufacturing plant in Beawar in 1983, although cement production began in 1985. Its early development took place in the context of India's expanding demand for construction materials and the gradual modernization of the domestic cement industry. In 1995, the Bangur family obtained full control of the business. Leadership later passed to Hari Mohan Bangur, Benu Gopal Bangur's son. Hari Mohan Bangur studied at the Indian Institute of Technology Bombay and became the central figure in the company's growth. His son Prashant Bangur joined the business in 2003, continuing the family's involvement in management and ownership. The company's expansion combined new integrated plants with grinding capacity closer to consuming markets. In 2014, Shree Cement acquired a grinding unit in Panipat, Haryana. This strengthened its presence in northern India and illustrated the importance of grinding and distribution assets in serving geographically dispersed cement demand. The company subsequently pursued international growth. In 2018, it acquired Union Cement in the United Arab Emirates for a reported $305 million. The acquired operation was located in Ras Al Khaimah and had stated capacity of 4 million tonnes per annum, giving Shree Cement an overseas manufacturing base. Shree Cement also developed a significant power business connected to its cement operations. Electricity generated through captive facilities is used in manufacturing, while power may also be sold in the market. These activities have been associated with the Shree Power and Shree Mega Power names. Energy integration is strategically relevant for cement producers because electricity and fuel are major operating costs and because reliable supply is important for continuous kiln and grinding operations. The company raised ₹2,399 crore through a qualified institutional placement in 2019. It continued expanding production during the 2020s. A kiln at the Nawalgarh plant in Rajasthan was commissioned in December 2023. In the same year, a subsidiary commissioned a 3 million-tonne-per-annum grinding unit in Purulia district, West Bengal. In April 2025, a further 3 million-tonne-per-annum grinding unit was commissioned in Etah, Uttar Pradesh. The operating footprint also included integrated plants at Kodla in Karnataka and Guntur in Andhra Pradesh. By 2025, the company profile described Indian cement capacity of 62.8 million tonnes per annum and UAE capacity of 4 million tonnes per annum. It operated integrated and grinding units at 18 Indian locations and had approximately 1 gigawatt of installed power capacity. In 2024, Shree Cement entered ready-mix concrete, broadening its construction-materials portfolio and creating a downstream offering for customers requiring delivered concrete rather than bagged or bulk cement. The company's history also includes significant safety controversies. In 2018, six workers died when a crane collapsed at the under-construction Kodla factory near Sedam in Karnataka's Kalaburagi district. In 2024, four workers died in separate incidents at the same factory over a period of two months, leading the district collector to investigate safety procedures. In February 2025, another worker died at the site. A video reportedly showed workers dragging and leaving the body outside the premises, and six workers were arrested under several sections of the Bharatiya Nyaya Sanhita. These events have become an important part of the company's public history, although the available reference material does not establish final legal outcomes or a definitive corporate finding.
- 2025
Etah grinding unit commissioned
[1]A 3 million-tonne-per-annum grinding unit was commissioned in Etah, Uttar Pradesh.
- 2024
Entry into ready-mix concrete
[1]Shree Cement entered the ready-mix concrete segment.
- 2023
Nawalgarh kiln and Purulia grinding capacity added
[1]The company commissioned a kiln at Nawalgarh in Rajasthan and a subsidiary commissioned a 3 million-tonne-per-annum grinding unit in Purulia, West Bengal.
- 2019
Qualified institutional placement
[1]Shree Cement raised ₹2,399 crore through a qualified institutional placement.
- 2018
Union Cement acquisition
[1]The company acquired UAE-based Union Cement, adding stated capacity of 4 million tonnes per annum in Ras Al Khaimah.
- 2014
Panipat grinding-unit acquisition
[1]Shree Cement acquired a grinding unit in Panipat, Haryana.
- 2003
Prashant Bangur joins the business
[1]Prashant Bangur, Hari Mohan Bangur's son, joined the company.
- 1995
Bangur family gains full control
[1]The Bangur family obtained full control of the company.
- 1985
Cement production begins
[1]Commercial cement production began at the Beawar plant.
- 1983
First plant commissioned
[1]The company's first cement plant was commissioned at Beawar, Rajasthan.
Products and positioning
A large, efficiency-oriented Indian cement and construction-materials producer serving infrastructure, commercial construction, housing, and industrial customers, with integrated power generation and expanding downstream materials activities.
Cement
Ordinary Portland Cement
Ordinary Portland Cement is a conventional hydraulic cement used in concrete, mortar, structural work, and general construction. It forms part of Shree Cement's core cement portfolio and is suited to applications requiring standard cement performance, including housing, commercial buildings, infrastructure, and civil works.
Blended cement
Portland Pozzolana Cement
Portland Pozzolana Cement is a blended cement incorporating pozzolanic material. It is used in concrete and masonry applications and is commonly selected for durability, workability, and reduced clinker intensity relative to conventional cement. It is one of the principal blended-cement categories associated with Shree Cement.
Cement intermediate
Clinker
Clinker is the kiln-produced intermediate that is ground with gypsum and other permitted materials to make cement. Shree Cement manufactures clinker at integrated plants for internal use and sale, linking its quarrying, kiln, grinding, and distribution operations.
Power generation
Shree Power
Shree Power is a name used for the company's captive power activities. The electricity supports cement manufacturing and helps integrate energy supply with kiln and grinding operations. The group also has capacity intended for electricity sales beyond internal plant consumption.
Power generation
Shree Mega Power
Shree Mega Power is associated with Shree Cement's power-generation activities, including electricity produced for plant use and market sale. Power generation complements the cement business by providing an additional operating capability and reducing reliance on external electricity supply.
Construction materials · 2024
Ready-mix concrete
Ready-mix concrete is concrete batched at a controlled facility and delivered to construction sites for placement. Shree Cement entered this segment in 2024, extending its offer from cement and clinker into a more downstream product used directly in building and infrastructure projects.
Controversies
2025
Worker death and arrests at Kodla site
Following another worker death at the Kodla factory, a video reportedly showed workers dragging and leaving the body outside the premises. Six workers were arrested under various sections of the Bharatiya Nyaya Sanhita.
2024
Multiple worker deaths at Kodla factory
Four workers died in separate incidents at the Kodla factory within two months. The district collector launched an investigation into the site's safety protocols.
2018
Fatal crane collapse at Kodla construction site
Six workers died after a crane collapsed at the under-construction Shree Cement factory at Kodla near Sedam in Karnataka's Kalaburagi district.
Brand decisions
2024
Enter ready-mix concreteStrategyBackground
The company sought to broaden its construction-materials portfolio beyond cement and clinker.
Action taken
Shree Cement entered the ready-mix concrete segment.
Aftermath
The move created a downstream offering for construction customers.
2019
Raise funds through qualified institutional placementOtherBackground
Shree Cement required capital for corporate and expansion purposes.
Action taken
The company completed a qualified institutional placement.
Aftermath
The placement raised ₹2,399 crore.
Capital raised. ₹2,399 crore (2019)
2018
Acquire Union CementM&ABackground
The company pursued international manufacturing capacity and a presence in the Gulf region.
Action taken
Shree Cement acquired UAE-based Union Cement in Ras Al Khaimah.
Aftermath
The transaction added stated overseas cement capacity of 4 million tonnes per annum.
Acquisition consideration. $305 million (2018)
2014
Acquire Panipat grinding unitM&ABackground
The company sought additional grinding capacity in northern India.
Action taken
Shree Cement acquired a grinding unit in Panipat, Haryana.
Aftermath
The acquisition expanded the company's regional grinding and distribution footprint.
Recent events
- Unconfirmed
Shree Cement reports first-half FY 2027 results[3]
Shree Cement reported US$1.13bn in sales in the first half of FY 2027, up 16% year-on-year, while net profit fell 28% to US$67.7m. The company also reported higher power and fuel costs and lower EBITDA.
- Unconfirmed
Shree Cement commissions 3 MTPA cement grinding facility at Union Cement Company in UAE[4]
Reported:
Shree Cement has commissioned a 3 MTPA cement grinding facility at its subsidiary Union Cement Company (UCC) in Ras Al Khaimah, UAE, with an investment of AED 115 million, raising its UAE cement manufacturing capacity to 7 MTPA (from 4 MTPA) and overall cement capacity to 76.3 MTPA.
Shree Cement announces temporary plant closures in Rajasthan[5]
Reported:
On March 22, 2020, Shree Cement said it was undertaking measures to shut down its plants in Rajasthan until March 31, 2020, or until further notice, in response to state government directions concerning COVID-19.
Sources5 sources
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