Top 10 Cement Companies in India by Market Cap

The cement industry in India plays an important role in the infrastructure development of the country. It contributes significantly to the construction sector, providing an essential material for housing and infrastructure projects. In recent years, the Indian cement industry has witnessed tremendous growth, with an increasing number of players entering the market. However, the industry faces several challenges, including low per capita consumption, government regulations, and high input costs. To thrive in this competitive environment, cement companies need to overcome these challenges and adopt effective strategies to achieve success.

India is one of the largest producers and consumers of cement in the world, accounting for about 7% of the global demand. The country's cement industry, which produced about 391 million tonnes of cement in 2022-23, is expected to reach around 600 million tonnes by 2024. This remarkable growth can be attributed to factors such as increasing urbanization, infrastructure development, and real estate projects.

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Top 10 Cement Companies List by Market Capitalisation

India's cement industry is dominated by a few major companies, which have strong hold in different states. Here are the top ten cement companies in India:

1. UltraTech Cement Ltd

• Market Cap: ₹ 320,185.51 Cr.
• Sales (latest quarter): ₹ 20418.94 Cr.
• Net Profit (latest quarter): ₹ 2258.58 Cr.
• Quarterly profit growth: 38.68 %
• Exchange: BSE, NSE
• Official Website: ultratechcement.com

UltraTech Cement Limited, a subsidiary of the Aditya Birla Group, is India's largest cement manufacturer and one of the top global producers. Established in 1983, UltraTech has grown through strategic acquisitions and expansions, and has become a major player in the cement industry. The company's market presence is spread across India, UAE, Bahrain, Bangladesh and Sri Lanka with a strong network of 23 integrated plants, 1 clinkerization plant, 27 grinding units and 7 bulk terminals. UltraTech's extensive product portfolio includes Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Portland Blast-Furnace Slag Cement (PSC) and White Cement, catering to diverse construction requirements. The company also offers ready-mix concrete (RMC) and a variety of specialty concrete. Known for its emphasis on innovation and sustainability, UltraTech Cement focuses on producing high-quality, sustainable and eco-friendly products. Additionally, the company offers comprehensive services such as technical support, on-site assistance, and customized solutions for large-scale projects. Through its commitment to quality, customer satisfaction and sustainable practices, UltraTech Cement Limited has established itself as a trusted and leading name in the cement industry in India and internationally.

2. Ambuja Cements Ltd

• Market Cap: ₹ 165,866.75 Cr.
• Sales (latest quarter): ₹ 8893.99 Cr.
• Net Profit (latest quarter): ₹ 1525.78 Cr.
• Quarterly profit growth: 24.34 %
• Exchange: BSE, NSE
• Official Website: ambujacement.com

Established in 1983, Ambuja Cements Limited is one of India's leading cement manufacturers and a subsidiary of global conglomerate Holcim. Initially known as Gujarat Ambuja Cements Limited, the company established itself as a major player in the Indian cement industry through its focus on efficiency and sustainability. Ambuja Cements has a strong presence across India, backed by its extensive network of 5 integrated cement manufacturing plants and 8 cement grinding units. The company's product portfolio includes a wide range of cements such as ordinary Portland cement (OPC), Portland pozzolana cement (PPC), and Portland composite cement (PCC), which are formulated to meet various construction requirements. Known for its high-quality and eco-friendly products, Ambuja Cements emphasizes innovation and sustainable practices including water conservation and energy efficiency initiatives. In addition to its diversified product offerings, the company offers value-added services such as technical support, training programs for masons and contractors, and project-specific solutions. Through its strong distribution network, advanced manufacturing processes and commitment to sustainability, Ambuja Cements Limited has cemented its reputation as a reliable and leading cement manufacturer in India.

3. Shree Cement Ltd

• Market Cap: ₹ 98,819.38 Cr.
• Sales (latest quarter): ₹ 5432.81 Cr.
• Net Profit (latest quarter): ₹ 675.75 Cr.
• Quarterly profit growth: 28.5 %
• Exchange: BSE, NSE
• Official Website: shreecement.com

Shree Cement Limited, which was established in 1979 by the Bangur family in Rajasthan, India, has grown to become one of the largest and most reputed cement manufacturers in the country. The company's rapid expansion and innovation have enabled it to gain a strong market presence domestically and internationally, with operations spread throughout India and the Middle East. Shree Cement operates an extensive network of cement plants, clinkerization units and grinding units, ensuring wide distribution and high production efficiency. The company's product portfolio includes a variety of high-quality cements such as ordinary Portland cement (OPC), Portland Pozzolana cement (PPC), and Portland slag cement (PSC), which meet diverse construction needs ranging from residential to large-scale infrastructure projects. Shree Cement is renowned for its focus on sustainability and energy efficiency, leading the way in the use of green technologies and alternative fuels to reduce their environmental impact. In addition to its extensive range of products, the company offers robust customer services, including technical support, on-site assistance, and customized solutions for construction projects. Through its commitment to innovation, quality and sustainability, Shree Cement Limited has established itself as a leading and trusted name in the cement industry, pursuing continuous development and excellence.

4. ACC Ltd

• Market Cap: ₹ 49,835.04 Cr.
• Sales (latest quarter): ₹ 5408.72 Cr.
• Net Profit (latest quarter): ₹ 944.84 Cr.
• Quarterly profit growth: 158.23 %
• Exchange: BSE, NSE
• Official Website: acclimited.com

ACC Ltd, formerly known as Associated Cement Companies Limited, was established in 1936 and has since become one of India's leading cement manufacturing companies. The company's rich history includes a series of mergers and acquisitions, which have cemented its position in the Indian cement industry. Now a part of the global conglomerate Holcim, ACC Ltd benefits from international expertise and technological advancements. The company boasts of a strong market presence with 17 cement manufacturing plants and 75 ready-mix concrete plants spread across India. ACC's product portfolio includes a wide range of high-quality cements, such as Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), and Composite Cement, formulated for various construction requirements. The company is known for its emphasis on sustainability and innovation while incorporating eco-friendly practices and advanced technologies into its operations. ACC Ltd also offers a range of value-added services, including technical support, consulting, and customized solutions for large-scale infrastructure projects. Through its extensive distribution network, state-of-the-art manufacturing facilities and commitment to quality and sustainability, ACC Limited has established itself as a leading and trusted name in the Indian cement industry, driving growth and excellence in construction solutions.

5. Dalmia Bharat Ltd

• Market Cap: ₹ 35,390.23 Cr.
• Sales (latest quarter): ₹ 4307 Cr.
• Net Profit (latest quarter): ₹ 320 Cr.
• Quarterly profit growth: -55.02 %
• Exchange: BSE, NSE
• Official Website: dalmiabharat.com

Founded in 1939 by Jaydayal Dalmia, Dalmia Bharat Limited has grown to become one of India's largest and most reputed cement manufacturers. With its headquarters in New Delhi, the company has established a significant market presence through its extensive network of 14 cement plants and grinding units across India. Dalmia India's product portfolio includes high-quality cements such as ordinary Portland cement (OPC), Portland pozzolana cement (PPC), Portland slag cement (PSC), and specialty cement designed for specific applications such as oil wells, railway sleepers, and airstrips. Known for its commitment to sustainability and innovation, the company integrates eco-friendly practices and cutting-edge technology into its operations, including the use of alternative fuels and renewable energy sources. Dalmia Bharat also offers a range of value-added services such as technical assistance, on-site assistance and customized solutions to meet the needs of diverse construction projects. Through its strong distribution network, state-of-the-art manufacturing facilities and focus on quality and customer satisfaction, Dalmia Bharat Limited has established its position as a leading and trusted name in the Indian cement industry, driving growth and excellence in building materials and solutions.

6. J K Cements Ltd

• Market Cap: ₹ 33,885.98 Cr.
• Sales (latest quarter): ₹ 3105.77 Cr.
• Net Profit (latest quarter): ₹ 219.68 Cr.
• Quarterly profit growth: 99.31 %
• Exchange: BSE, NSE
• Official Website: jkcement.com

Established in 1974 by the Singhania family, JK Cements Limited has become one of India's leading cement manufacturers. With its initial plant at Nimbahera, Rajasthan, the company has significantly expanded its operations, establishing a strong market presence across India and international markets. JK Cements operates several cement manufacturing plants and grinding units, ensuring an extensive distribution network and adequate production capacity. The company's diversified product portfolio includes high-quality ordinary Portland cement (OPC), Portland Pozzolana cement (PPC) and white cement, catering to a variety of construction needs, from residential buildings to large infrastructure projects. JK Cements is particularly famous for its white cement and wall putty under the brand names JK White Cement and JK Wall Putty, which enjoy a strong market position. Emphasizing innovation and sustainability, JK Cements incorporates advanced technologies and eco-friendly practices in its manufacturing processes. The company also offers a range of value-added services such as technical support, on-site support, and expert consulting, ensuring customer satisfaction and project efficiency. Through its commitment to quality, innovation and customer-centric strategies, JK Cements Limited has established itself as a reliable and leading player in the cement industry.

7. The Ramco Cement Ltd

• Market Cap: ₹ 20,556.25 Cr.
• Sales (latest quarter): ₹ 2678.24 Cr.
• Net Profit (latest quarter): ₹ 128.56 Cr.
• Quarterly profit growth: -14.63 %
• Exchange: BSE, NSE
• Official Website: ramcocements.in

Ramco Cements Limited, which was established as Madras Cements Limited by the Ramco Group in 1957, is one of the leading cement manufacturers in India. With its headquarters in Chennai, the company has steadily evolved to become a leading player in the Indian cement industry. Ramco Cements boasts of a significant market presence with several integrated cement plants, grinding units and a vast distribution network in parts of South India and Eastern India. The company's product portfolio includes a variety of high-quality cement such as ordinary Portland cement (OPC), Portland pozzolana cement (PPC), Portland slag cement (PSC), and rapid hardening Portland cement, which meet various construction requirements. Known for its commitment to innovation and sustainability, Ramco Cements incorporates advanced manufacturing techniques and environmentally friendly practices, such as waste heat recovery systems and the use of alternative fuels. Additionally, the company offers comprehensive services, including technical support, on-site assistance, and customized manufacturing solutions to ensure optimal performance and customer satisfaction. Through its focus on quality, environmental responsibility and customer-centric services, Ramco Cements Limited has established itself as a trusted and leading name in the cement industry, driving growth and excellence in construction solutions across its operational areas.

8. Nuvoco Vistas Corporation Ltd

• Market Cap: ₹ 12,795.15 Cr.
• Sales (latest quarter): ₹ 2933.44 Cr.
• Net Profit (latest quarter): ₹ 100.35 Cr.
• Quarterly profit growth: -83.44 %
• Exchange: BSE, NSE
• Official Website: nuvoco.com

Nuvoco Vistas Corporation Limited, part of the Nirma Group, is a leading cement and building materials company in India, with a history dating back to 1999. After originally starting as Lafarge India, it was acquired by the Nirma Group in 2016 and rebranded as Nuvoco Vistas. The company has rapidly expanded across India, operating several cement manufacturing plants, grinding units, and ready-mix concrete (RMC) plants. Nuvoco Vistas has an extensive product portfolio that includes ordinary Portland cement (OPC), Portland pozzolana cement (PPC), Portland slag cement (PSC) and a range of specialty cement designed for various construction needs. Additionally, the company offers a wide range of building materials such as aggregates, fly ash, and construction chemicals. Known for its focus on sustainability and innovation, Nuvoco Vistas incorporates environmentally friendly practices and advanced technologies into its operations, such as waste heat recovery systems and the use of alternative fuels. The company also provides value-added services including technical support, on-site support, and customized construction solutions to ensure customer satisfaction and project efficiency. Through its strong distribution network, state-of-the-art manufacturing facilities and commitment to quality and sustainability, Nuvoco Vistas Corporation Limited has established itself as a trusted leader in the Indian cement and building materials industry.

9. Birla Corporation Ltd

• Market Cap: ₹ 12,075.19 Cr.
• Sales (latest quarter): ₹ 2656.43 Cr.
• Net Profit (latest quarter): ₹ 193.34 Cr.
• Quarterly profit growth: 164.62 %
• Exchange: BSE, NSE
• Official Website: birlacorporation.com

Birla Corporation Limited, the flagship company of the M.P. Birla Group, was founded in 1919 and has since become one of India's leading cement manufacturers. With a rich history of more than a century, the company has developed a strong market presence across India. Birla Corporation operates several cement manufacturing plants and grinding units, which are primarily located in North, Central and Eastern India, ensuring an extensive distribution network and adequate production capacity. The company's product portfolio includes high-quality cements such as ordinary Portland cement (OPC), Portland pozzolana cement (PPC), portland slag cement (PSC) and composite cement, catering to diverse construction needs ranging from residential to large infrastructure projects. Known for its commitment to innovation and sustainability, Birla Corporation integrates advanced manufacturing techniques and environmentally-friendly practices, such as waste heat recovery systems and the use of alternative fuels, into its operations. In addition to its diverse product range, the company offers comprehensive services, including technical support, on-site assistance, and customized solutions for construction projects. Through its focus on quality, customer satisfaction and sustainable development, Birla Corporation Limited has established itself as a trusted and leading name in the Indian cement industry, driving continuous growth and excellence.

10. JK Lakshmi Cement Ltd

• Market Cap: ₹ 9,890.17 Cr.
• Sales (latest quarter): ₹ 1780.85 Cr.
• Net Profit (latest quarter): ₹ 162.06 Cr.
• Quarterly profit growth: 42.7 %
• Exchange: BSE, NSE
• Official Website: jklakshmicement.com

JK Lakshmi Cement Limited, a part of the prestigious JK Organization, was established in 1982 and has since become a major player in the Indian cement industry. With its headquarters in New Delhi, the company has developed a strong market presence primarily in Northern, Western and Eastern India. JK Lakshmi Cement operates several state-of-the-art cement manufacturing plants and grinding units, ensuring wide distribution and adequate production capacity. The company's product portfolio includes high-quality cements such as ordinary Portland cement (OPC), Portland pozzolana cement (PPC), and ready-mix concrete (RMC), which meet a variety of construction needs, from residential buildings to large infrastructure projects. JK Lakshmi Cement is known for its focus on innovation and sustainability, including advanced manufacturing technology and environment-friendly practices such as waste heat recovery systems and use of alternative fuels. In addition to its diverse product offerings, the company offers value-added services including technical support, on-site assistance, and customized solutions for construction projects. Through its commitment to quality, customer satisfaction, and sustainable development, JK Lakshmi Cement Limited has established itself as a trusted and leading name in the Indian cement industry, promoting growth and excellence in building materials and solutions.

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Challenges Faced by the Cement Industry in India

One of the biggest challenges faced by the cement industry in India is the low per capita consumption. Cement consumption in India is relatively low compared to other developing countries, which is a challenge for companies looking to increase their market share. To address this issue, cement companies need to promote awareness about the various applications and benefits of cement, as well as meet the growing demand for infrastructure and housing projects.

Another challenge facing the cement industry in India is government regulation. The industry is subject to various environmental laws and regulations, which can affect production, pricing, and market access. For example, the recent notification of emission regulations by the Government of India has caused significant concern for cement manufacturers, leading to an increase in production costs. To effectively implement these regulations, cement companies need to invest in technology and compliance measures to ensure environmental sustainability.

Moreover, high input costs are also a challenge for cement companies in India. The cost of raw materials such as limestone and coal can be volatile, leading to fluctuations in production costs. Additionally, the cost of energy and transportation can also have a significant impact on profitability. To mitigate the impact of high input costs, cement companies need to explore ways to reduce their dependence on external suppliers and adopt innovative production processes.

Conclusion

The cement industry in India is facing several challenges, including low per capita consumption, government regulation, and high input costs. However, by adopting effective strategies such as competitive pricing, customer satisfaction, and efficient operations, cement companies can thrive in this exciting industry and contribute to India's infrastructure growth. The above list of India's top 10 cement companies shows the diversity of companies operating in the industry and their contribution to the development of the country.