India is the world’s second-largest cement producer, with more than 7 per cent of global installed capacity. The installed cement capacity in India is 553 mtpa, with a production of 298 mtpa. Ready availability of raw materials for making cement, such as limestone and coal, is a key factor aiding the growth of the sector.According to a Crisil report, the Indian cement industry is likely to add 80 million tonne capacity by FY2024, which is the highest year-wise addition in the past 10 years. This is driven by an increasing spend on housing and infrastructure activities. India’s cement production is expected to increase at a CAGR of 5.65 per cent between FY2016 and FY2022, driven by demands in roads, urban infrastructure and commercial real estate. India’s cement production was expected to range between 380-390 mt in FY23, a growth rate of 8-9 per cent year on year.The cement industry is mainly driven by the consequential number of construction activities with growing demand and a surging need for residential complexes for the urbanised population. Further, the construction of various infrastructure projects such as airports and roads, undertaken by the Government in recent times, propels the growth of the market.Consumption of cement has also been growing consistently on the back of rising rural housing demand. Strong expansion of the industrial sector is one of the main demand drivers for the cement industry. As a result, there is a strong potential for an increase in long-term demand. Initiatives such as the development of 98 smart cities are expected to significantly boost the sector.Massive modernisation and assimilation of state-of-the-art technology have made cement plants energy-efficient and environment-friendly. The cement industry contributes to environmental cleanliness by consuming hazardous wastes like fly ash (around 30 million tonne) from thermal power plants and the entire 8 million tonne of granulated slag produced by steel manufacturing units and using alternate fuels and raw materials through advanced and environment-friendly technologies.Fastest Growing Cement Companies – LargeULTRATECH CEMENT UltraTech Cement is the cement flagship company of the Aditya Birla Group and the largest manufacturer of grey cement, ready-mix concrete (RMC) and white cement in India. It provides a range of products that caters to the needs of various aspects of construction, from foundation to finish, under five business verticals: Grey Cement, White Cement, Concrete, Building Products and UltraTech Building Solutions.UltraTech is the only cement company globally (outside China) to have 100+ mtpa of cement manufacturing capacity in a single country. Its business operations span the UAE, Bahrain, Sri Lanka and India. It has a consolidated installed capacity of 132.45 mtpa and 23 manufacturing units, 28 grinding units, one clinkerisation unit and eight bulk packaging terminals. It is the third-largest cement producer in the world, excluding China. In the white cement segment, UltraTech operates under the brand name Birla White. It has one white cement unit and three wall care putty units, with a current capacity of 1.98 mtpa. With 185+ RMC plants in 85+ cities, UltraTech is the largest manufacturer of concrete in India. A founding member of the Global Cement and Concrete Association (GCCA), it is a signatory to the GCCA Climate Ambition 2050 and has committed to the Net Zero Concrete Roadmap announced by GCCA. UltraTech is focused on accelerating the decarbonisation of its operations.Consolidated net sales jumped 21 per cent to Rs 623.38 billion for FY2022-23, from Rs 517.08 billion in FY2021-22. Profit before interest, depreciation and tax was Rs 111.23 billion, compared to Rs 120.22 billion the previous year. Profit after tax (PAT) was Rs.50.64 billion, compared to a normalised profit of Rs 56.67 billion (before one-time extraordinary gains) the previous year.JK CEMENT JK Cement’s operations commenced with commercial production at its flagship grey cement unit at Nimbahera, Rajasthan in May 1975. Today, it is one of India’s leading manufacturers of grey cement, with an installed capacity of 20 MTPA, and one of the world’s leading white cement manufacturers, with a total white cement capacity of 1.20 MTPA and wall putty capacity of 1.2 MTPA. The company’s vision is to be the preferred manufacturer of cement and cement-based products that partners in nation-building. It is India’s No. 1 white cement and wall putty company and has been at the forefront of the country’s cement industry, focusing on quality, innovation and sustainability with superior products and a strong brand name.JK white cement is sold across 43 countries around the globe. The company has a strong international presence with two subsidies, JK Cement Works Fujairah FZC and JK White Cement (Africa). Over four decades, the company has partnered with India's multi-sectoral infrastructure needs on the strength of its product excellence, customer orientation and technology leadership.Annual 2023 winners Cement CompaniesAMBUJA CEMENTS Ambuja Cements is among the leading cement companies in India and a member of the Adani Group – the largest and fastest-growing portfolio of diversified sustainable businesses. It provides hassle-free, home-building solutions with its unique sustainable development projects and environment-friendly practices. Currently, the company has a cement capacity of 31 mt with six integrated cement manufacturing plants and eight cement grinding units across the country. Its unique products tailor-made for Indian climatic conditions, sustainable operations and initiatives are aligned with the company's philosophy of contributing to the larger good of society,making it among the most trusted brands in the Indian cement industry.The company reported a total income of Rs 396.7474 billion for FY2022-2023, compared to Rs 293.1790 billion for FY2021-22. It posted a net profit of Rs 25.8340 billion as on 31 March 2023, compared to Rs 27.8038 billion for FY2021-22. EPS stood at Rs 12.64 compared to Rs 14 for the previous year.Fastest Growing Cement Companies – MediumCement companies having turnover from Rs 2,000 to 8,000 croreJSW CEMENT Part of the diversified $23 billion JSW Group, JSW Cement is India’s leading green cement company with a current capacity of 19 MTPA and is on a mission to support India’s growth in core economic sectors with speed and innovation and deliver the best-quality green cement to customers. Its vision is to build a self-reliant India by boosting infrastructure and the fast-growing economy through projects setting new benchmarks.The company’s world-class facilities and technological advancements give it the firepower to keep expanding to newer geographies around the country and target new customer segments. It has manufacturing units at Vijayanagar in Karnataka, Nandyal in Andhra Pradesh, Salboni in West Bengal, Jajpur in Odisha, Dolvi in Maharashtra and Fujairah in the UAE, among others. With a strong presence in 11 major states in India, it is expanding its footprint in the country and overseas by adding to its existing five active state-of-the-art manufacturing plants and three mines and intends to increase its production capacity. It is targeting 25 MTPA production by 2023 and all its current business investments are driven to achieve this goal.JSW Cement is present across the value chain of building materials comprising cement, concrete and construction chemicals. This gives it a unique JSW Cement is present across the value chain of building materials comprising cement, concrete and construction chemicals. This gives it a unique advantage to cater to the diverse needs of the construction industry with premium, high-quality and eco-friendly products. Its subsidiary, Shiva Cement, is currently investing over Rs 15 billion in a 1.36 MTPA clinker unit to be established in Sundergarh, Odisha. The project includes setting up a 1 MTPA grinding unit and associated facilities.During FY2022-23, the company reported a total revenue of Rs 47.7074 billion, compared to Rs 40.9922 billion in FY2021-22. PAT was reported at Rs 2.0696 billion in FY2022-23, compared to Rs 3.2439 billion the previous year.STAR CEMENT Star Cement is the No. 1 cement brand in India’s Northeast and one of the fastest growing cement brands in West Bengal and Bihar. Its state-of-the-art cement plants bring together innovation and technology to provide high-quality cement, focusing on best-in-class sustainable construction.  It has established itself as the most accredited brand in the region for providing high-quality cement and fair pricing.The company has gained a prominent position in the Indian construction industry for its premium quality cement, focusing on sustainable development, to meet today’s challenging building material needs and home-building aspirations of millions of customers, supported by pioneering marketing initiatives. It is powered by three cement plants located at Lumshnong in Meghalaya, Sonapur-Guwahati in Assam and Mohitnagar Jalpaiguri in West Bengal, making it one of the largest manufacturers of cement in eastern India. It is proud to have consistently earned recognition and top awards in the construction industry.The company’s product range for construction includes Ordinary Portland Cement (OPC) 43 and 53 grades; Portland Pozzolana Cement (PPC) and Portland Slag Cement (PSC). Anti-Rust Cement (ARC) is another marquee product in the value-added segment in line with evolving customer and construction needs. Known for competence and quality, the products are sought after by customers, engineers, dealers and contractors.Star Cement recorded a sale of 40.1 lakh tonne in FY2011-23, compared to 33.9 lakh tonne in FY2021-22. It reported a total revenue of Rs 27.05 billion in FY2022-23, compared to Rs 22.55 billion the previous year. PAT stood at Rs 2.48 billion, compared to Rs 2.47 billion. EPS was Rs 6.13 in FY2022-23, compared to Rs 6.11 the previous year.JK LAKSHMI CEMENT JK Lakshmi Cement, a part of the JK organisation with a rich 135-year legacy, is a renowned and well-established name in the Indian cement industry for the past four decades with a formidable presence in north, west and east India. It has a combined capacity of 13.9 MTPA. The company is relentlessly focused on product quality, customer satisfaction and innovation, tapping the immense potential for development in India’s infrastructure and construction sectors. With a wide network of over 400 cement dumps and more than 4,000 channel partners, the brand enjoys a premium position in its markets and is recognised for its immaculate quality and services. A vast pool of highly trained and dedicated marketing and technical service personnel helps the company service customers at their doorstep. Having commenced operations in 1982, the Company has modern and fully computerised, integrated cement plants at Jaykaypuram in the Sirohi district of Rajasthan, Dabok in the Udaipur district of Rajasthan (a subsidiary of the company) and Ahiwara in the Durg district of Chhattisgarh. It also has four split location grinding units at Kalol and Surat in Gujarat, Jhamri in the Jhajjar district of Haryana and Cuttack in Odisha.It is the first cement manufacturer in India to introduce coloured bags and has a wide product portfolio catering to varied construction requirements with cement grades like OPC 43 and 53 and blended cement (PPC, PSC and composite Cement). With formidable cement brands like JK Lakshmi Cement, JK Lakshmi PRO+ Cement, Platinum Heavy Duty Cement, JKLC Sixer Cement and Super Sixer Weather Guard Cement, it offers impeccable quality products for discerning customers. It has also introduced value-added products such as JK Lakshmi Powermix RMC, JK LakshmiPlastgypsum plaster and JK SmartBloxautoclaved aerated concrete (AAC)blocks.The company increased its full-year sales during FY2022-23 to $786 million, up 19 per cent from $662 million for FY2021-22. During the same period, its net profit was $ 44.6 million, down 23 per cent from $57.7 million.Fastest Growing Cement Companies – SmallCement companies having turnover less than Rs 2,000 croreUDAIPUR CEMENT WORKS Udaipur Cement Works (UCWL) is one of India’s leading cement manufacturers, with its roots in Udaipur, the city of lakes in Rajasthan. A subsidiary of JK Lakshmi Cement Ltd (JKLC), it is a manufacturer and supplier of cement and cementitious products with manufacturing facilities in Rajasthan. With an integrated cement manufacturing unit with an installed cement production capacity of 2.2 mtpa, it manufactures a range of cement, including PPC, OPC and clinker.The company is relentlessly focused on product quality, customer satisfaction and innovation, which helped push boundaries and tap the immense potential for development in the infrastructure and construction sectors in India. Its philosophy is based on sustainable growth and a developmental framework that works for a better and happier future. The working principles of the company have been aligned to contribute to the nation’s commitment to meet the UN Sustainable Development Goals and it upholds the highest levels of system standards, such as the ISO Certification for Environment (14001), Occupational Health and Safety (45001), Energy (50001), and Quality Management (9001) systems. It has also inventoried its carbon and water footprint as per ISO 14064 - 1 and ISO 14046.The company reported a total income of Rs 10.3226 billion during FY2022-23 compared to Rs 8.8110 billion in FY2021-22. It posted a net profit of `358.6 million for FY2022-23 as against Rs 486.6 million the previous year and EPS of Rs 1.15 compared to Rs1.56.SAGAR CEMENTS Sagar Cements is one of India's leading cement manufacturers, with an installed production capacity of 10.85 mtpa. For over three decades, it has been committed to creating lasting stakeholder value while maintaining a sustainable growth outlook with a robust foundation and a steady growth focus.The plant produces OPC 53 and 43 grades and PPC. All its products comply with the quality standards specified by the Bureau of Indian Standards (BIS) and it is an ISO 9001:2015 (Quality), ISO 14001:2015 (Environment) and OHSAS 18001:2007 (Health & Safety) certified company.Its resolute focus has been to double capacity every 10 years since inception. Over the decades, it has grown consistently in both capacity and capability and currently operates at a capacity of 8.25 mtpa. By 2025, it envisages its total capacity to touch 10 mtpa.During FY2022-23, net sales stood at Rs 22.2292 billion, up 39 per cent compared to Rs 15.9334 billion in FY2021-2022. PAT for FY2022-23 stood at Rs 85 million, compared to Rs 591.5 million for the previous year.SHREE DIGVIJAY CEMENTS Shree Digvijay Cements is one of India’s pioneers in manufacturing cement, having started operations in 1944 at the coastal township of Digvijaygram (Sikka) in Jamnagar district, Gujarat. Since 2019, it is part of True North, formerly known as India Value Fund Advisers (IVFA). The company’s licensed capacity stands at 3 mtpa, housing a fully automatic modern cement plant which is ISO 9001, ISO 14001 and OHSAS 18000 certified. The company is one of the key exporters of cement and cement clinker throughout the world, for which it received the Certificate of Honour of Export House from the President of India. It has a Gujarat-wide network of over 1,000 channel partners selling cement under the brand name Kamal Cement. In addition, it is among the earliest accredited companies awarded with the prestigious licence from the American Petroleum Institute (API) for manufacturing oil well cement – API 10A Class G HSR cement. It has been a trendsetter in providing superior quality ordinary and special Portland cement. Its commitment to sustainable development and high ethical standards in business dealings have been appreciated.The company offers a unique combination of product quality and customer-tailored logistics solutions through a combination of road, railways and captive seaport that can harbour and handle 3,000 to 5,000 DWT vessels along the jetty. Safe anchorage for 5,000 to 35,000 DWT vessels is available 5 km from the port/wharf site. For safe anchorage of 50,000-100,000 DWT vessels, 20-25 m of water is available 10 km from the port site.During FY2022-23, the company reported net sales of Rs 7,267 million, higher 15.5 per cent from Rs 6,293 million in FY2021-22. Total revenues were Rs 7,338 million, higher 16 per cent from Rs 6,333 million and PAT was Rs  581 million, up 5 per cent compared to Rs 553 million the previous year.