India Cements
 | |
| Company type | Public |
|---|---|
| BSE: 530005 NSE: INDIACEM | |
| Industry | Construction |
| Founded | 1946 |
| Headquarters | Chennai, Tamil Nadu, India |
Key people |
|
| Products | Cement |
| Revenue |  ₹4,510 crore (US$540 million) (FY2021)[1] |
| ₹208 crore (US$25 million) (FY2021) | |
| Total assets | ₹11,670 crore (US$1.4 billion) (2020) |
Number of employees | 3000 |
| 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 is headed by former International Cricket Council chairman and Board of Control for Cricket in India president N. Srinivasan.
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.
India Cements directly owned the Indian Premier League franchise Chennai Super Kings from 2008.[3] 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.[4] India Cements is also alleged to have made controversial investments in Jagati Publications and Bharati Cements owned by Y. S. Jaganmohan Reddy.[5]
In July 2024, UltraTech_Cement acquired a majority stake in India cements.[6] However, there will be no change in ownership of Chennai Super Kings as it has been functioning as an independent entity. [7]
References
- ^ "India Cements Q4 result: Company posts Rs 43.97 crore net profit, approves dividend of Rs 1 for FY 21". 24 May 2021.
- ^ "Top Cement Companies in India, Top Cement Stocks in India by Net Sales, List of Top Cement Stocks in India {2023} - BSE".
- ^ "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.
- ^ "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