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{{Short description|Indian cement manufacturing company}} | |||
{{Use Indian English|date=February 2017}} | {{Use Indian English|date=February 2017}} | ||
{{Use dmy dates|date= | {{Use dmy dates|date=July 2022}} | ||
{{Infobox company | {{Infobox company | ||
| name = India Cements Limited | | name = The India Cements Limited | ||
| logo = India Cements logo.png | | logo = India Cements logo.png | ||
| type = [[Public]] | | type = [[Public]] | ||
| traded_as = {{BSE|530005}}<br />{{NSE|INDIACEM}} | | traded_as = {{BSE|530005}}<br />{{NSE|INDIACEM}} | ||
| caption = | | caption = | ||
| foundation | | foundation = {{start date and age|1946}} | ||
| location = [[Chennai]], [[Tamil Nadu]], India | |||
| location = [[Chennai]], [[Tamil Nadu]], | | revenue = {{decrease}}{{INRConvert|4138.75|c}} (FY2025) | ||
| revenue = {{ | <ref>{{Cite web |title=Audited Financial Results| url=https://www.indiacements.co.in/uploads/investor/pdf/35638996AUDITEFINANCTRRNANDE3103025.pdf| date=26 April 2025 }}</ref> | ||
| net_income = {{ | | net_income = {{loss}} {{INRConvert|-667.56|c}} (FY2025) | ||
| assets = {{INRConvert| | | assets = {{increase}}{{INRConvert|13639.62|c}} (2025) | ||
| | | parent = [[UltraTech Cement]] | ||
| num_employees = 3000 | | num_employees = 3000 | ||
| industry = [[Construction]] | | industry = [[Construction]] | ||
| key_people = {{plainlist| | |||
*Suresh Vasant Patil (CEO) | |||
*Krishnagopal Ladsaria (CFO)}} | |||
| products = [[Cement]] | | products = [[Cement]] | ||
| homepage = {{url|www.indiacements.co.in}} | | homepage = {{url|www.indiacements.co.in}} | ||
}} | }} | ||
'''India Cements Limited''' is a cement manufacturing company in [[ | '''The India Cements Limited''' is a cement manufacturing company based in [[Chennai]]. It is the 9th largest listed cement company in India by revenue.<ref>{{cite web |year=2023 |title=Top Companies in India by Net Sales - BSE |url=https://www.moneycontrol.com/stocks/marketinfo/netsales/bse/cement.html |archive-url=https://web.archive.org/web/20230209070305/https://www.moneycontrol.com/stocks/marketinfo/netsales/bse/cement.html |archive-date=2023-02-09 |access-date=2025-07-02 |website=moneycontrol.com}}</ref> The company was headed by former [[International Cricket Council]] [[Chairman of the International Cricket Council|chairman]] and [[Board of Control for Cricket in India]] president [[N. Srinivasan]].<ref>{{Cite web |title=Rediff On The Net Business News: India Cements acquires Raasi to become #2 |url=https://m.rediff.com/business/1998/apr/07raasi.htm |access-date=2025-12-23 |website=m.rediff.com}}</ref><ref>{{Cite web |date=2022-05-01 |title=CSK owner Srinivasan has his say on Jadeja handing over CSK captaincy to Dhoni |url=https://www.hindustantimes.com/cricket/ipl-2022-chennai-super-kings-owner-n-srinivasan-has-his-say-on-jadeja-handing-over-csk-captaincy-back-to-ms-dhoni-101651406611123.html |access-date=2025-12-23 |website=Hindustan Times |language=en}}</ref> | ||
It was established in 1946 by [[S. N. N. Sankaralinga Iyer]] and the first plant was set up at [[Thalaiyuthu]] in [[Tamil Nadu]] in 1949. It has | It was established in 1946 by [[S. N. N. Sankaralinga Iyer]] and the first plant was set up at [[Thalaiyuthu]] in [[Tamil Nadu]] in 1949. It has seven integrated cement plants in Tamil Nadu, Telangana and [[Andhra Pradesh]], one in Rajasthan (through its subsidiary, Trinetra Cement Ltd) and two grinding units, one each in Tamil Nadu and Maharashtra with a capacity of 15.6 million tonnes per annum. '''Sankar Cement''', '''Coramandel Cement''' and '''Raasi Gold''' are the brands owned by India Cements.<ref>{{Cite web |title=Leading Cement Companies {{!}} Cements Manufacturers, Supplier in India |url=https://www.indiacements.co.in/milestones.html |archive-url=http://web.archive.org/web/20250429031109/https://www.indiacements.co.in/milestones.html |archive-date=2025-04-29 |access-date=2025-12-23 |website=www.indiacements.co.in |language=en}}</ref> | ||
India Cements owned the [[Indian Premier League]] franchise [[Chennai Super Kings]] from 2008 | India Cements directly owned the [[Indian Premier League]] franchise [[Chennai Super Kings]] from 2008.<ref>{{cite web|title=Big business and Bollywood grab stakes in IPL|url=http://www.espncricinfo.com/ipl/content/story/333193.html|publisher=ESPNcricinfo|access-date=6 June 2013}}</ref> It then transferred ownership to a separate entity named Chennai Super Kings Cricket Ltd., after the [[Supreme Court of India]] struck down the controversial amendment to the [[Board of Control for Cricket in India|BCCI]] constitution's clause 6.2.4 that had allowed board officials to have commercial interests in the IPL and the Champions League T20 on 22 January 2015.<ref>{{cite web|url=http://www.espncricinfo.com/india/content/story/829981.html|title=Supreme court struck down controversial amendment|publisher=ESPNcricinfo|access-date=14 February 2015}}</ref> India Cements is also alleged to have made controversial investments in Jagati Publications and [[Bharati Cements]] owned by [[Y. S. Jaganmohan Reddy]].<ref>{{cite web |url= http://zeenews.india.com/news/andhra-pradesh/jagan-reddy-to-move-sc-in-assets-case_726424.html|title=Jagan Reddy to move SC in assets case|date=16 August 2011 |publisher=Zeenews Bureau |access-date=17 August 2011}}</ref> | ||
== Acquisition of Raasi Cements and Sri Vishnu Cements == | |||
In 1998, India Cements Limited (ICL) executed one of the most significant hostile takeovers in Indian corporate history by acquiring Raasi Cements and, subsequently, Sri Vishnu Cement. Under the leadership of N. Srinivasan, ICL initiated the bid by strategically accumulating an initial 21% stake in Raasi through open-market purchases and a private deal with a disgruntled relative of the promoter, [[B. V. Raju|B.V. Raju]]. Despite a high-profile defense by Andhra industrial leaders, ICL successfully negotiated a deal in April 1998 to buy Raju’s 32% promoter holding for ₹1.5 billion. This ₹3.8 billion acquisition, advised by DSP Merrill Lynch, made India Cements the second-largest cement producer in the country and gave it a dominant position in the southern market. The consolidation was completed the following year when ICL acquired Sri Vishnu Cements as well, effectively absorbing a total production capacity of approximately 3 million tonnes and marking a major shift in the industry's landscape.<ref>{{Cite web |title=Rediff On The Net Business News: India Cements acquires Raasi to become #2 |url=https://m.rediff.com/business/1998/apr/07raasi.htm |access-date=2025-12-23 |website=m.rediff.com}}</ref><ref>{{Cite book |last=Damodaran |first=Harish |url=https://books.google.com/books?id=iszsAAAAMAAJ |title=India's New Capitalists: Caste, Business, and Industry in a Modern Nation |date=2008 |publisher=Palgrave Macmillan UK |isbn=978-0-230-59412-8 |location=London |pages=119 |chapter=Kammas, Reddys, and Rajus}}</ref> | |||
== Acquisition by UltraTech Cement == | |||
In July 2024, [[UltraTech Cement]] acquired a majority stake in India cements.<ref>{{cite news |url= https://timesofindia.indiatimes.com/business/india-business/ultratech-cement-to-acquire-majority-stake-in-india-cements/articleshow/112086051.cms|title=UltraTech Cement to acquire majority stake in India Cements|newspaper=The Times of India |date=28 Jul 2024}}</ref> However, there will be no change in ownership of [[Chennai Super Kings]] as it has been functioning as an independent entity.<ref>{{cite web|url=https://www.business-standard.com/cricket/news/ultratech-india-cement-deal-no-impact-on-chennai-super-kings-ownership-124072900542_1.html|title=UltraTech-India Cement deal: No impact on Chennai Super Kings ownership|date=29 Jul 2024}}</ref> | |||
==References== | ==References== | ||
| Line 37: | Line 48: | ||
[[Category:Companies listed on the National Stock Exchange of India]] | [[Category:Companies listed on the National Stock Exchange of India]] | ||
[[Category:Companies listed on the Bombay Stock Exchange]] | [[Category:Companies listed on the Bombay Stock Exchange]] | ||
[[Category:India Cements]] | |||
[[Category:2024 mergers and acquisitions]] | |||
{{India-company-stub}} | {{India-company-stub}} | ||
Latest revision as of 14:53, 11 January 2026
 | |
| Traded as | BSE: 530005 NSE: INDIACEM |
|---|---|
| Industry | Construction |
| Founded | 1946 |
| Headquarters | Chennai, Tamil Nadu, India |
Key people |
|
| Products | Cement |
| Revenue |  ₹4,138.75 crore (US$580 million) (FY2025)
[1] |
| ₹−667.56 crore (US$−94 million) (FY2025) | |
| Total assets |  ₹13,639.62 crore (US$1.9 billion) (2025) |
Number of employees | 3000 |
| Parent | UltraTech Cement |
| Website | www |
The India Cements Limited is a cement manufacturing company based in Chennai. It is the 9th largest listed cement company in India by revenue.[2] The company was headed by former International Cricket Council chairman and Board of Control for Cricket in India president N. Srinivasan.[3][4]
It was established in 1946 by S. N. N. Sankaralinga Iyer and the first plant was set up at Thalaiyuthu in Tamil Nadu in 1949. It has seven integrated cement plants in Tamil Nadu, Telangana and Andhra Pradesh, one in Rajasthan (through its subsidiary, Trinetra Cement Ltd) and two grinding units, one each in Tamil Nadu and Maharashtra with a capacity of 15.6 million tonnes per annum. Sankar Cement, Coramandel Cement and Raasi Gold are the brands owned by India Cements.[5]
India Cements directly owned the Indian Premier League franchise Chennai Super Kings from 2008.[6] It then transferred ownership to a separate entity named Chennai Super Kings Cricket Ltd., after the Supreme Court of India struck down the controversial amendment to the BCCI constitution's clause 6.2.4 that had allowed board officials to have commercial interests in the IPL and the Champions League T20 on 22 January 2015.[7] India Cements is also alleged to have made controversial investments in Jagati Publications and Bharati Cements owned by Y. S. Jaganmohan Reddy.[8]
Acquisition of Raasi Cements and Sri Vishnu Cements[edit | edit source]
In 1998, India Cements Limited (ICL) executed one of the most significant hostile takeovers in Indian corporate history by acquiring Raasi Cements and, subsequently, Sri Vishnu Cement. Under the leadership of N. Srinivasan, ICL initiated the bid by strategically accumulating an initial 21% stake in Raasi through open-market purchases and a private deal with a disgruntled relative of the promoter, B.V. Raju. Despite a high-profile defense by Andhra industrial leaders, ICL successfully negotiated a deal in April 1998 to buy Raju’s 32% promoter holding for ₹1.5 billion. This ₹3.8 billion acquisition, advised by DSP Merrill Lynch, made India Cements the second-largest cement producer in the country and gave it a dominant position in the southern market. The consolidation was completed the following year when ICL acquired Sri Vishnu Cements as well, effectively absorbing a total production capacity of approximately 3 million tonnes and marking a major shift in the industry's landscape.[9][10]
Acquisition by UltraTech Cement[edit | edit source]
In July 2024, UltraTech Cement acquired a majority stake in India cements.[11] However, there will be no change in ownership of Chennai Super Kings as it has been functioning as an independent entity.[12]
References[edit | edit source]
- ↑ "Audited Financial Results" (PDF). 26 April 2025.
- ↑ "Top Companies in India by Net Sales - BSE". moneycontrol.com. 2023. Archived from the original on 9 February 2023. Retrieved 2 July 2025.
- ↑ "Rediff On The Net Business News: India Cements acquires Raasi to become #2". m.rediff.com. Retrieved 23 December 2025.
- ↑ "CSK owner Srinivasan has his say on Jadeja handing over CSK captaincy to Dhoni". Hindustan Times. 1 May 2022. Retrieved 23 December 2025.
- ↑ "Leading Cement Companies | Cements Manufacturers, Supplier in India". www.indiacements.co.in. Archived from the original on 29 April 2025. Retrieved 23 December 2025.
- ↑ "Big business and Bollywood grab stakes in IPL". ESPNcricinfo. Retrieved 6 June 2013.
- ↑ "Supreme court struck down controversial amendment". ESPNcricinfo. Retrieved 14 February 2015.
- ↑ "Jagan Reddy to move SC in assets case". Zeenews Bureau. 16 August 2011. Retrieved 17 August 2011.
- ↑ "Rediff On The Net Business News: India Cements acquires Raasi to become #2". m.rediff.com. Retrieved 23 December 2025.
- ↑ Damodaran, Harish (2008). "Kammas, Reddys, and Rajus". India's New Capitalists: Caste, Business, and Industry in a Modern Nation. London: Palgrave Macmillan UK. p. 119. ISBN 978-0-230-59412-8.
- ↑ "UltraTech Cement to acquire majority stake in India Cements". The Times of India. 28 July 2024.
- ↑ "UltraTech-India Cement deal: No impact on Chennai Super Kings ownership". 29 July 2024.
External links[edit | edit source]
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