"Revitalizing Our Planet's Bees: A Collective Effort to Safeguard Their Existence"
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"Revitalizing Our Planet's Bees: A Collective Effort to Safeguard Their Existence"

CW profiles the Top Companies in this category.... Largest and Most Profitable Construction Company Larsen & Toubro (L&T) Larsen & Toubro (L&T) is a trendsetter in the Indian construction sector. Staying ahead of the curve wi...
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CW profiles the Top Companies in this category.... Largest and Most Profitable Construction Company Larsen & Toubro (L&T) Larsen & Toubro (L&T) is a trendsetter in the Indian construction sector. Staying ahead of the curve with its EPC projects, high-tech manufacturing and services, the company operates in over 50 countries worldwide. A strong, customer-focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for over eight decades. The company’s manufacturing footprint extends across eight countries in addition to India and has several international offices and a supply chain that extends around the globe. In a year marked by numerous disruptions, the company delivered a commendable performance and demonstrated significant recovery across key performance parameters. Its order inflow for the year at Rs.192,997 crore was achieved on the back of major domestic and international order wins in hydrocarbon and infrastructure. The company recorded revenues of Rs.156,521 crore during FY2021-22, registering a growth of 15 per cent. The growth was aided by improved project execution and manufacturing activity further complemented by a strong pick-up in the services businesses amid a volatile macro backdrop. As on March 31, 2022, the company’s orderbook at Rs.357,595 crore is large, growing and diversified. The infrastructure segment accounts for a 73 per cent share of the consolidated orderbook, which additionally recorded a growth of 9 per cent on the back of orders secured in projects businesses. Additionally, the company observed a healthy operational Profit After Tax at Rs.8,572 crore, representing a growth of 23 per cent over the previous year. Owing to robust operational cash flows, the company’s capital employed metrics have reported progress, leading in turn to improved return ratios, and additionally has repaid borrowings during the year resulting in improved Debt-to-Equity ratios. Furthermore, the company has also been aiming for wider geographic dispersal to yield positive results while de-risking exposure. The Middle East region continues to remain an area of focus, as the company expands its outreach to several countries in Africa as well as South East Asia. Currently, the Middle East region constitutes 76 per cent of L&T’s international orderbook of Rs.95,227 crore. On the sustainability front, the company has set for itself a Water Neutrality and Carbon Net Zero target of 2035 and 2040, respectively, and are already present in EPC solar and water space while actively looking at expanding its footprint in the green hydrogen and energy storage. Fastest Growing Construction Companies – Large Category 1st Place PNC INFRATECH PNC Infratech is an integrated infrastructure solution provider with investment, design, development, construction, operation, maintenance, and management capabilities. It has more than three decades of proven experience and expertise in airports, highways, expressways, bridges, flyovers, dedicated rail freight corridor, drinking water supply and allied sectors. It has successfully executed more than 85 major infrastructure projects across various states in India, and has executed projects across varied implementation formats, including item rate, EPC (Design-Build), BOT-Annuity, BOT-Toll, OMT, O&M and HAM projects across sectors. The company is currently executing over 21 EPC projects in airport, highway, expressway, irrigation, and rural drinking water supply projects across geographies. It has over 10,000 employees and possesses large fleet of state-of-the-art plant and equipment, that include large logistic fleet and modern machinery right from the mining stage till commissioning, which can deliver large size projects quickly with high quality. The company completed a number of projects ahead of schedule and earned early completion bonuses. As a testimony to its capabilities, PNC Infratech has successfully completed 10 highway projects of a total route length of 651 km and an aggregate contract value of Rs.11,981 crore during the year FY2021-22. It has secured new orders of total value Rs11,146 crore during FY2021-22, and has an unexecuted order book worth Rs.20,000 crore. During FY2021-22, its revenue grew by 25 per cent year-on-year on a consolidated basis at Rs7,208 crore, as compared to Rs5,788 crore in FY2020-21. Consolidated EBITDA was Rs1,534 crore, higher by 8 per cent as compared to Rs 1,422 crore in FY2020-21; and consolidated Profit After Tax (PAT) stood at `580 crore, as compared to Rs497 crore in FY2020-21, with a growth of 17 per cent. Recently, PNC Infratech set two world records viz laying highest quantity of Dense Bitumen Macadam (42,666 MT) in 100 hours over 50 km single lane at Package 29 of Delhi Vadodara Expressway Project of NHAI. The MoRTH and the Government of India conferred the ‘Award of Excellence’ for the same. 2nd Place APCO INFRATECH Incorporated in January 1992, APCO Infratech (AIPL) is engaged in construction and infrastructure sector undertaking projects in segments such as roads and highways, tunnel, metro, marine and structural works for power plants, industrial EPC and institutional building works. APCO Infratech is an ISO 9001:2015 and OHSAS 18001:2007 certified professionally managed organisation with a dedicated team of 9,800 employees and 1,500 professionals. It has recorded several milestones underlining its growth journey. The company is also the first in India to have been awarded the first Hybrid Annuity Mode (HAM) Project in India for the Meerut-Bulandshahr. It has aligned its vision with Government of India to put the country on the global map. APCO is also one of the protagonists towards the Prime Minister's dream of making India becoming a $5 trillion economy and is proving its commitment to the cause. The company draws its distinction as being one of the largest players in the making of expressways in India and also one of the major construction agency directly employed by the NHAI, UPEIDA, UPSHA and MSRDC. The company has a track record of delivering various projects before time. Apco takes immense pleasure to be part of India’s growth story: “Building New India“. With three decades of experience in construction and infrastructure sector, it has established a long track record of operations, robust order book position with strong counterparties, comfortable financial risk profile and efficient working capital management. In its life span spreading over three decades, it has proudly and successfully completed over 50 large scale projects till date. The company has executed various projects pan-India and has a track record of executing large projects for various construction companies and government departments. It has demonstrated consistency in its capability to bid for and win large-sized projects from various government departments. The order book comprises projects from Central Government agencies like NHAI, NHIDCL, IRCON and projects from state development agencies like UPEIDA, and MSRDC. 3rd Place GR INFRAPROJECTS Incorporated in 1995, GR Infraprojects is one of the fastest growing organisations in the Indian infrastructure sector, with a legacy of 25 years. It’s best-in-class assets, latest technology, 24 x 7 project execution capabilities and its 17,000 strong and passionate workforce enable it to deliver projects before or on-time with the highest standards of quality, safety, financial discipline and governance. With 25 years of robust experience, GR Infra has a diversified projects portfolio comprising complex projects that require sharp focus on strategy and execution across the length and breadth of the country. With an employee base of 17,000, the principal business of civil construction includes projects on EPC, Built Operate and Transfer (BOT) and on Hybrid Annuity Mode (HAM) basis in the road sector. It also has EPC projects in railways, metro, airport runways and Optical Fibre Cable (OFC) projects. Apart from road construction, it has also ventured into power transmission as a part of its diversification strategy. GR Infra has established a reputation of being a focused EPC player with significant experience and expertise in executing road and railway projects. The company has been diversifying beyond roads into other infrastructure segments and non-road revenue segments and continues to scale up the value chain and has gradually increased its execution capabilities in terms of size, and complexity of projects executed across sectors. For the projects it delivers on an EPC basis, the scope of services includes designing and engineering of the project, procurement of raw materials, project execution at site with overall project management up to the commissioning of the project. In addition, it also undertakes repair and maintenance of projects in accordance with contractual arrangements with project awarding authorities. For BOT and HAM projects, it also operates and manages projects throughout the concession period. The company has delivered over 100 projects. As on March 31, 2022, it had 30 under-execution projects across 16 states and one union territory. During the year, it bagged 10 projects with a contract value of Rs.9,350 crore. Its consolidated revenue from operations grew by 7.83 per cent from Rs.8,458.34 crore in FY2021-22 from Rs.7,844.13 crore in FY2020-21. In FY2021-22, consolidated EBITDA stood at Rs.1,800.72 crore and consolidated PAT was Rs.831.91 crore, compared to Rs.954.82 crore in FY2020-21. Fastest Growing Construction Companies – Medium Category 1st Place HG INFRA AND ENGINEERING Predominantly engaged in the road construction activities, HG Infra and Engineering is a major EPC player with an increasing focus on HAM projects. Having embarked on its journey in 2003, today the company is a dominant player in the road construction space with competencies to undertake EPC, HAM and civil construction related infrastructure projects and catering to a wide range of clients including government and private. HG Infra has a proven track record in successfully executing large-sized civil construction projects such as extension and grading of runways, railways and land development, and water pipeline projects. Over the years, the company has emerged as one of the most established names in the Indian road infrastructure sector. It has a strong presence spread across Haryana, Delhi, Rajasthan, Uttar Pradesh, Telangana, Odisha, Andhra Pradesh, Karnataka, and Maharashtra. Its vision is to create world-class assets and infrastructure to provide the platform for faster and consistent growth for India to become the world’s economic power. Being in operation for 19 years, it delivers projects with high quality and safety standards and on a timely basis across diverse geographies of India. From being a regional player, today it has spread to nine geographies with 4,800 employees and has built competencies to bid for and execute large-scale EPC and HAM projects as a prime contractor. The company’s business model is centred on complete integration coupled with a large fleet of in-house equipment and skilled human resources, which makes it a preferred player in the segment. It is actively pursuing diversification to other segments like railways, water infrastructure and airports. During FY2021-22, its revenue from operations stood at Rs.3,615.2 crore compared to Rs.2,535 crore, registering a YoY growth of 43 per cent. EBITDA was at Rs.5,847 million compared to Rs.4,181 million in 2020-21, clocking a YoY growth of 40 per cent. PAT stood at Rs.338.8 crore, compared to Rs.211 crore in 2020-21, growing at 61 per cent YoY. 2nd Place DINESHCHANDRA R AGRAWAL INFRACON Dineshchandra R Agrawal Infracon (DRAIPL), is one of India’s leading infrastructure development groups, headquartered at Ahmedabad, Gujarat. The company is engaged in multiple sectors of the industry such as roads and highways, bridges and flyovers, railway and metro rail, buildings, water supply and waste management, airport infrastructure, defence infrastructure, urban and IT infrastructure-smart cities. Principled in timely and quality delivery, more than 3,000 engineers work on various projects that showcase the company’s global outreach. Safety in construction is a firm value of the company which has been recognised at various levels in the industry. Recently, the company had been awarded by Nitin Gadkari, Minister for Road Transport and Highways, the MoRT&H Excellence Award 2021 for outstanding work in challenging conditions. The Prime Minister of India had inaugurated a few of the company’s projects like the Maitry Setu, Haldia Flyover, and Ahmedabad Metro Rail. Previous year the company was also awarded by Gadkari, and Rajnath Singh, Minister of Defence, the GOLD Excellence Award for Project Management (PPP) and Silver Excellence Award for Project Management (EPC) at the National Highway Excellence Awards 2021. Furthermore, at the National Highway Excellence Awards 2020, the company was awarded the Gold Excellence Award for Project Management (PPP) category. DRAIPL firmly believes in the quality and timely execution of projects. It is engaged in a number of priority and critical projects of the nation and contributing actively to the world’s vibrant infrastructure. The company is one of the first in India to get certified by ISO 9001:2015 as well as for ISO 27000 and CMMI level 5. 3rd Place J KUMAR INFRAPROJECTS Having started its journey in 1980, J Kumar Infraprojects has managed to create a niche in the field of urban infrastructure in India. With an order book of over `11,936 crore as on March 31, 2022, the company is present across infrastructure segments including metros, flyovers, subways, bridges, roads, expressways and civil construction. With a workforce of 7,000 employees, it has an impeccable track record of completing complex projects within the stipulated time. With a legacy of over four decades in infrastructure, it has developed an expertise in undertaking and executing large and complex projects. Today, it has successfully executed milestone projects such as the Mumbai metro, Delhi metro, JNPT and many more firsts to its credit. It has a strong presence in the states of Maharashtra, Delhi, Gujarat, Rajasthan and Uttar Pradesh and is in pursuit to expand to others. Its ability to leverage the flexibility and scalability of its business model, expand into newer geographies, undertake complex projects and build a strong portfolio of in-house equipment, is driving a sustained performance YoY. Over the years, the company has built an efficient bidding capacity for larger projects and is among the few companies qualified to undertake elevated and underground metro projects. It undertook its first metro project in 2012 and currently holds a significant share of metro projects in Mumbai. The company had an order book of `3,685 crore as on March 31, 2022, taking its consolidated order book to Rs. 11,936 crore. Despite a challenging year, the company has outperformed. Revenue from operations during FY2021-22 grew 37 per cent to Rs.3,527 crore as compared to Rs.2,571 crore in FY2020-21. EBITDA stood at Rs.505 crore, as compared to Rs.311 crore in FY2020-21 with a strong margin of 14.3 per cent, as compared to 12.1 per cent in the earlier year. PAT grew by 222 per cent to Rs.206 crore, as compared to `64 crore, with an improved PAT margin of 5.8 per cent, as compared to 2.5 per cent in FY2020-21. With an increasing government thrust on infrastructure projects, complemented by a robust order book and investment in the latest technology, J Kumar Infraprojects is poised to become a billion-dollar revenue company by the year 2027. 3rd Place KNR CONSTRUCTIONS KNR Constructions (KNRCL) is one of the leading companies in the field of EPC services. The company enjoys an enviable reputation in the infrastructure development segment with construction of roads, highways, bridges and flyovers, excelling in providing EPC services, BOT and Hybrid Annuity Model (HAM) basis, irrigation projects, urban water infrastructure management and agriculture. The company has completed major projects in roads and highways, which is one of the fastest growing sectors in the country. The KNRCL name is synonymous with precision, excellence, timely delivery and quality. It has also established its presence in irrigation and urban water infrastructure management. With over two decades of experience, the company has executed more than 7,500 lane km road projects across 12 states in India. With a legacy of 40 years and a talent pool of 2,205 employees, it has gained expertise in executing technically complex projects with ease, either on an individual basis or through JVs. It is also a major partner in India’s growth story, being a multi-domain infrastructure project development company providing EPC services across various fast-growing sectors. The company acts as a link to economic progress by accompanying the nation in its journey of infrastructure development. It has aligned its vision in accordance with the nation’s growth through its infrastructure capabilities and wishes to be a means to make India a global superpower. Multiple orders received across different segments and regions of India are a testament to it’s proficiency in the field. Its order book of Rs.9,000.8 crore (as on March 31, 2022) comprises of `6,790.9 crore in the roads sector and `2,209.9 crore in the irrigation sector. EPC road projects and HAM projects constitute 75 per cent of the total order book while irrigation projects constitute the remainder 25 per cent. In the year FY2021-22, the company achieved a milestone turnover of `3,272.59 crore, thereby recording an increase in turnover of 21.09 per cent. PAT stood at `381.8 crore, an upward shift of 56 per cent. Fastest Growing Construction Companies – Small Category 1st Place PSP PROJECTS Headquartered in Ahmedabad, PSP Projects (PSP), established in 2008, is considered among the leading and fastest growing EPC companies in India today. This is a multi-disciplinary construction organisation offering a diversified range of construction and allied services across industrial, institutional, commercial and residential, hotels and hospitality, hospitals and marquee government projects in India. It is a diversified construction company providing construction and ancillary services for industrial, institutional, governmental, and residential projects in India. It offers its services to private and public sector businesses across the construction value chain from planning and design to building and post-construction operations, including MEP work and other interior fitouts. The company’s end-to-end solutions and services include civil construction, building renovation, MEP services and interior fitouts. These solutions ride a culture of financial discipline, multi-vertical presence, large captive equipment base and cutting-edge technologies. With a workforce of 1,345 employees, the company has worked for 150+ private and public customers pan-India across 226 projects. It undertakes construction projects across the following categories: industrial, institutional, government, government residential, precast and residential projects, and with national and international customers. Over the years, PSP Projects has developed capabilities across project stages - business development, tendering, engineering and design, procurement, construction, MEP services, operations and maintenance. This has widened the company’s expertise in addressing projects across the categories of manufacturing and processing facilities, hospitals, government buildings, educational institutes, religious landmarks, corporate offices, residential buildings, social and urban infrastructure as well as smart cities. As on March 31, 2022, the company was engaged in 43 projects with an aggregate value of Rs.4,324 crore, and these projects were addressed through captive and collaborative capabilities. Since its incorporation and founding, it has completed 183 projects. It has a strong presence in Gujarat and has expanded its geographical footprint to the states of Maharashtra, Karnataka, Uttar Pradesh, Rajasthan and Delhi. It has reported a revenue of `1,748.76 crore in FY2021-22, which was 40.93 per cent higher than revenue of the previous year of FY2020-21. EBIDTA grew 90.27 per cent and profit after tax strengthened 101.02 per cent. 2nd Place Welspun Enterprises Welspun Enterprises (WEL) is among India’s fastest growing infrastructure development companies. WEL specialises in road and water projects under the HAM and via large-value EPC contracts. It has predominantly been a road infrastructure company, and has forayed into water infrastructure over the past few years. The company’s robust orderbook, which stood at Rs.8,400 crore as on March 31, 2022, which expanded to about Rs.12,500 crore as on May 31, 2022, is backed by their capabilities, experience and execution finesse, which when coupled with the increasing and varied opportunities in the infrastructure space and the increasing government investments, speaks volumes about the future optimism of the business. The company has a strong workforce of more than 26,000 employees and more than 100,000 shareholders. Further, using total assets of $1 billion, WEL generates annual revenues of $2.3 billion using cutting-edge technologies, robust operational excellence, focused strategies and responsible ESG practices. Currently, the company has executed seven HAM projects, two BOT projects, three EPC projects, along with 3,200 lane km projects completed and 1,400 lane km projects ongoing. The company enjoys a healthy rating in the AA family and is one of the few infrastructure companies in this zone with extremely low level of debt. The proposed exit will further strengthen its balance sheet and cash flows to be future-ready, and thereby, capitalise on multiple opportunities emerging in this sector. WEL’s operating and financial performance has been characterised by steady timely execution, a strong order book, sustained profitability, and solid balance sheet. Its development portfolio has been progressing well, with six projects achieving Provisional Commercial Operation Date (PCOD) or Commercial Operation Date (COD), and are now revenue generating. The company’s other operating highlights for the year include accelerated execution in several key ongoing projects, such as the Aunta Simaria six-laning road project that also includes one of the widest extra dosed bridge on the Ganga river; the Varanasi Aurangabad NH-2 project that spans the states of Uttar Pradesh and Bihar; and the UP Jal Jeevan Mission project that is part of the Government’s ‘Har Ghar Nal Se Jal’ scheme of providing drinking water access to all. 3rd Place BL Kashyap & Sons BL Kashyap & Sons is one of the leading construction, infrastructure and civil engineering companies in India, specialising in undertaking major industrial, residential and commercial projects. It delivers integrated EPC services for the civil construction and infrastructure sector, creating long-term development and economic growth for the nation. The company has firmly established itself as one of the pre-eminent construction, infrastructure and civil engineering companies with a pan-India presence. The company has been instrumental in constructing some of the country’s leading buildings and infrastructure efficiently backed by cutting-edge technical systems and management integration. With a strong workforce of more than 1,500 engineers and professionals and with the strength of contract employees, the company delivers projects consistently across the country. BLK’s team has set up uncompromising standards of safety, quality, value engineering and timeline delivery. The company’s expertise spans an extensive range of services with civil engineering excellence, design-build projects and construction management. Its workforce works on delivering projects within the stipulated time by using value-driven solutions and top-notch project management techniques. Today, BL Kashyap & Sons has a diverse portfolio spread across various industries like IT campuses, commercial spaces, malls, hotels, residential complexes, institutions, factories and manufacturing facilities, healthcare and transportation. The company has created landmark edifices across the nation. It has also undertaken turnkey projects to set up power generation plants, power transmission and distribution systems, integrated rail and metro systems, residential buildings, townships, commercial buildings, airports, industrial units, chemical process plants, water and waste water management solutions. During the year FY2021-22, the company recorded a consolidated turnover of Rs.1,157.51 crore, an increase of 52 per cent as compared to the previous year. Net Profit was Rs.43.94 crore as against a loss of Rs.58.41 crore in FY2020-21. Other income was Rs.2.17 crore. Focusing on its product mix, the company is moving from contracting with clients and focusing more on end-users, built-to-suit, large corporate and clients with all the project approvals and funding in place. It is also shifting from road infrastructure players in to the building infrastructure space. Cement Companies CW profiles the Top Companies in this category.... Fastest Growing Cement Companies – Large 1st Place Ultratech cement Incorporated in 2000, UltraTech Cement is the flagship cement company of the globally renowned Aditya Birla Group. A $7.1 billion building solutions powerhouse, it is the largest manufacturer of grey cement and ready-mix concrete (RMC) and one of the largest manufacturers of white cement in India, with an employee strength of 21,921 employees. UltraTech has grown to become India’s largest cement manufacturer. It is also the second-largest cement manufacturer worldwide, contributing to over 7 per cent of the global capacity in grey cement, white cement and RMC, and offers a wide array of building solutions to cater to the construction needs of the modern world. Its operations are spread across India, UAE, Bahrain and Sri Lanka to meet the demand in the Indian subcontinent and the Middle East, with its key products including Portland and Pozzolana cement. The consolidated capacity of UltraTech Cement stands at 119.95 million metric tonne per annum (mmtpa) of grey cement. It has one white cement unit and two wall care putty unit, with a current capacity of 1.5 mmtpa. It has 22 integrated manufacturing units, 27 grinding units, one clinkerisation unit and eight bulk packaging terminals. It has a network of over 100,000 channel partners across India and a market reach of more than 80 per cent across the country. With over 170 RMC plants in more than 70 cities, UltraTech is the largest manufacturer of concrete in India. It also has a slew of speciality concretes that meet specific needs of discerning customers. During FY2021-22, the company recorded net revenues of $7.1 billion (`52,500 crore) and an EBITDA of $1.6 billion (Rs.12,020 crore). Net turnover at Rs.49,729 crore was 17 per cent higher than the previous year. Normalised Profit After Tax increased by 3.9 per cent from Rs.5,340 crore to Rs.5,549 crore. 2nd Place JK CEMENT With more than 45 years of industry experience, JK Cement is one of the country’s leading integrated cement manufacturers and building product makers. It is one of India’s leading grey cement manufacturers and one of the largest white cement and wall putty manufacturers. It has 11 state-of-the-art integrated manufacturing and split grinding units, with a presence in 36 countries across the globe and a total workforce of 3,941 (as on March 31, 2022). The company has a current grey cement capacity of 14.7 mtpa, white cement capacity of 2.81 mtpa, including 0.6 mtpa facilities in the UAE. It is working on increasing its production capacity to 25 mtpa in the next three years from its current capacity. With strategically located plants, captive resource base and wide distribution network, the company maintains its leadership in the key markets of North, West, Central and South India. It also has a global presence and caters to the Middle East and other international markets through its white cement manufacturing facility in UAE. As a market leader, JK Cement constantly works towards its ambition of becoming a leading cement producer. It contributes significantly towards nation building with its products being used to create the infrastructure the country needs. Some of India’s most prominent landmarks carry the JK Cement stamp. The company has continuously evolved – expanding its facilities, innovating and launching new products, optimising costs and answering to market needs. With a growing portfolio of ‘green’ cement brands, it is progressively balancing the need for cleaner construction options with the consideration of costs, material sourcing and customer centricity. JK Cement’s revenue from operation stood at Rs. 7,670 crore in FY2021-22, as against Rs. 6,320 crore in FY2020-21, an increase of 21 per cent. Other income was Rs.54 crore for the year, as against Rs. 22 crore in the previous year. However, EBITDA was at Rs. 1,530 crore, same as the last fiscal. 3rd Place JK LAKSHMI CEMENT JK Lakshmi Cement is a part of the prestigious JK Organisation, a multinational industrial conglomerate with operations in India and overseas, with a heritage of more than 125 years. The eminent group has multi-business, multi-product and multi-location operations, with a footprint in various countries across the globe. Having started the company in 1982, it has fully computerised, integrated cement plants in Rajasthan and Chhattisgarh. It also has four split location grinding units in Gujarat, Haryana and Odisha. The combined capacity of the company is 1.33 crore metric tonne per annum. JK Lakshmi Cement has a formidable presence in Northern, Western and Eastern India's cement markets. It also has three AAC block plants and 12 RMC units across seven states. Its product range includes an array of cement products and provides a host of products and services like ready-mix concrete, gypsum plaster, wall putty, autoclaved aerated blocks, construction chemicals and adhesives. The company’s marketing footprint is spread over 11 states covering 40 per cent of India’s geographical area and over 50 per cent of the population. The company recently acquired three limestone mining leases in Gujarat and Rajasthan, which will significantly add to its growth and market presence. As part of its vision, it intends to take the company to 30 mmtpa cement capacity by the year 2030. The turnover of the company increased by 15 per cent during the FY2021-22, from Rs.4,450 crore in FY2020-21 to 5,108 crore. EBIDTA increased marginally from `864 crore in FY2020-21 to `869 crore in FY2021-22, and Profit After Tax jumped from `366 crore in FY2020-21 to Rs.418 crore in FY2021-22. During the year, cement production increased by 4 per cent at 8.6 mllion tonne, as against 8.2 million tonne in the previous financial year. Sales as on March 31, 2022, were up 7 per cent at 10.5 million tonne, against 9.8 million tonne logged in the last financial year. In the financial year, the company undertook a slew of strategic measures to usher in a new wave of transformation in the organisation. Fastest Growing Cement Companies – Medium 1st Place JSW CEMENT JSW Cement is part of the diversified $22 billion JSW Group. It is India’s leading manufacturer of green ‘sustainable’ cement, with a current capacity of 17 mtpa across manufacturing units at Vijayanagar in Karnataka, Nandyal in Andhra Pradesh, Salboni in West Bengal, Jajpur in Odisha, Dolvi in Maharashtra and Fujairah in UAE, among others. The company has built an expertise in manufacturing 'green' cement products and is developing more cement and cementitious mixes, which are both economical and environment-friendly. The company offers its customers a diverse portfolio of products such as Portland Slag Cement (PSC), Ground Granulated Blast Furnace Slag (GGBS), Ordinary Portland Cement (OPC), and Concreel HD and Composite Cement (CC). The use of advanced technology and breakthrough innovation helps it produce ‘green cement’ that ensures reduced waste generation and maximum utilisation of industrial by-products. The company’s reliable and skilled workforce helps manufacture sustainable and low carbon-based cement. It employs talent coming from diverse backgrounds with varied skillsets, whose combined efforts have made the company a leader in the segment. With a capacity of 17 mtpa, a network of 4,300 dealers and 1,200 employees, the company is present across the value chain of building materials comprising cement, concrete and construction chemicals. State-of-the-art facilities and technological advancement provides the company with the firepower to expand to new markets and target new customer segments. JSW Cement is working on becoming a company with 25 mtpa production capacity by 2023. It has the unique advantage to cater to the diverse needs of the construction industry with premium, high-quality and eco-friendly products. Shiva Cement, its subsidiary, is currently investing over Rs.1,500 crore in a 1.36 mtpa clinker unit project to be established in Sundergarh, Odisha. The project includes setting up a 1 mtpa grinding unit and associated facilities. The operating turnover of the company has jumped by 20 per cent over the previous year and profits have climbed 26 per cent. Over the past five years, the company has grown its top-line by 140 per cent. Its operating EBITDA has remained more or less in the range of 25 per cent while its PAT ratio has improved from 5.85 per cent in 2019-20 to 7.55 per cent in 2020-21 and 7.9 per cent in 2021-22. 2nd Place STAR CEMENT Star Cement is one of the leading cement companies in North-Eastern India. It is one of industry’s fastest growing cement players and has one of India’s finest limestone reserves. It has an aggregate cement capacity of 5.7 mmtpa and clinker capacity of 28 mtpa, with a workforce of 1,900 employees. The company has set itself a vision to become the fastest growing and the most competitive cement company in Eastern India and aims to achieve a capacity of 150 metric tonne by 2026. It has developed a strong dealer and distribution network with more than 2,100 dealers and 12,000 merchants covering 10 states. In order to meet the expanding demand, the company has added 200 additional dealers during FY2021-22. The company’s broad network helps it enter more geographies and increase sales, thus helping it keep its position as the industry leader. It is also optimising its raw material mix to reduce overall manufacturing costs. It has successfully reduced fuel and power consumption in the manufacturing process and has also started using biomass in plants with other cost reduction initiatives. Star Cement achieved a sales volume of 3,392,185 MT of cement in FY2021-22, as against 2,644,048 MT during the previous financial year. It registered total revenue of Rs.2,200 crore in FY2021-22, which was 29.18 per cent higher than the previous year from Rs.1,720 crore. EBITDA stood at Rs.379 crore in FY2021-22, compared to Rs.361 crore in FY2020-21, and Profit After Tax of Rs.247 crore in FY2021-22, compared to Rs.187 crore in FY2020-21. On a consolidated basis, its total clinker production stood at 2,175,099 MT as against 1,910,713 MT in FY2020-21. Similarly, capacity utilisation of clinkerisation units was at 85.60 per cent during the FY2021-22, as against 75.20 per cent during FY2020-21. 3rd Place ORIENT CEMENT Started in 1979, Orient Cement is one of the fastest growing mid-sized cement manufacturers in India, with a diversified portfolio of products and addressing a wide range of construction activities and a workforce strength of 1,200 employees. It is a part of the CK Birla Group, a diversified $2.8 billion conglomerate with a global presence and a history of enduring relationships with renowned global companies. With over 30,000 employees, 46 manufacturing facilities and numerous patents and awards, the group’s businesses are present across five continents. The company started cement production at Devapur (Telangana) in 1982 and added a split grinding unit in 1997 at Jalgaon (Maharashtra). It has two integrated cement manufacturing plants and a split clinker grinding unit positions it with a presence in 10 states viz., Maharashtra, Telangana, Andhra Pradesh, Karnataka and parts of Madhya Pradesh, Tamil Nadu, Kerala, Gujarat, Goa and Chhattisgarh. It has a cement manufacturing capacity of 8.5 mtpa and a clinker manufacturing capacity of 5.5 mtpa. A well-diversified and synergistic geographic portfolio of assets in high-growth and profitable markets underpin its long-term value creation objective. It is among the country’s leading cement companies, trusted by its customers for its industry-leading products and solutions to meet their construction needs. During the year under review, the company reported total revenues of Rs.2,734.98 crore, a growth of 17 per cent compared to Rs.2,342.44 crore in the previous year. Its capacity utilisation for the full year has been ~66 per cent, an improvement of 5 per cent over the previous year. Total sales volume for the year grew by 8 per cent to 55,000,000 metric tonne during the year, despite the second wave of COVID-19 pandemic in the first half, demand contraction and supply chain dislocations following global geo-political developments. Steel company CW profiles the Top Company in this category.... Fastest Growing Steel Company Steel Authority of India (SAIL) Steel Authority of India (SAIL) is one of the largest steel-making companies in the country and one of the Maharatna of the country’s Central Public Sector Enterprises. SAIL produces iron and steel at five integrated plants and three special steel plants, located principally in the eastern and central regions of India and situated close to domestic sources of raw materials. The company manufactures and sells a broad range of steel products. On the production front, it posted its best ever production performance by producing 18.733 million tonne (MT), 17.366 MT and 16.897 MT of hot metal, crude steel and saleable steel, respectively, during FY22 registering a growth of 7 per cent, 7 per cent and 12 per cent, respectively, over its previous best. With the addition of new capacities, SAIL continues its efforts to not only expand its sales volumes in the domestic sector but also increase its presence in the global markets. Export sales of 1.353 MT during FY22, marked the third consecutive year when it crossed the 1 MT mark in exports. During FY22, about 589,000 tonne of TMT bars were supplied in the retail segment. To meet the expectations and demands of the retail sector, SAIL is expanding its Tier-I and Tier-II distribution network across India, which will further strengthen its position in the B2C space. On the raw materials front, the company delivered its best ever performance by mining iron ore of about 34.15 MT during FY22. The year gone also saw the company enter for the first time into the elite club of the Indian companies having a turnover above ` 100,000 crore. The turnover of ` 103,000 crore during FY22 saw a growth of more than 50 per cent over the previous best of ` 68,452 crore achieved during FY21. The increase in turnover coupled with improved operational performance helped SAIL achieve its highest ever numbers in terms of profitability. EBITDA at Rs.22,364 crore, Profit Before Tax at ` 16,039 crore and Profit After Tax at `12,015 crore grew by 63 per cent, 40 per cent and 59 per cent, respectively, over the previous best. During FY22, the company also reduced its debts by approximately ` 22,000 crore from Rs.35,350 crore (non-Ind AS) as on March 31, 2021, to ` 13,386 crore (non-Ind AS) as on March 31, 2022. Paint company CW profiles the Top Company in this category.... Fastest Growing Paint Company INDIGO PAINTS Founded in the year 2000, Indigo Paints is one of India’s fastest growing paint companies in the Rs.62,000 crore paints sector. It is India’s fifth largest decorative paint manufacturer and the fifth largest paint company in terms of market capitalisation. The company has been able to carve out its niche in the paint market and cater to evolving customer needs through its innovation-driven solutions. The company manufactures a wide range of paints for the decorative segment and is one of the first companies in India to create category-creator products including metallic coat emulsions, tile coat emulsions, bright ceiling coat emulsion and floor coat emulsions. It has four manufacturing units across Jodhpur, Kochi and Pudukkottai, and a distribution network of over 15,750 dealers. It has a strong presence in Tier-III and -IV markets across 28 states of the country. It is currently expanding its distribution network in the metro and Tier-I cities. The company had raised Rs.1,170 crore in an IPO during FY2020-21. Amid a challenging macro environment, it’s prudent strategy helped navigate the challenges and deliver growth-oriented results. Its revenue from operations increased to Rs.905.97 crore in FY2022 compared to `723.32 crore in FY2021. EBDITA grew from `122.51 crore to Rs.135.98 crore, 10.99 per cent higher than the previous financial year due to the re-opening of the construction and infrastructure sector during the year. Net sales operations were 25.25 per cent higher than FY2021, while PAT was 18.6 per cent higher. Moving forward, the company is progressing reasonably well on the construction of its new water-based paint plant in Tamil Nadu with civil construction and machinery procurement, which is expected to be commissioned by FY23. It collaborates with dealers and the painting community to deep-dive in to the dynamics of demand for different products and understand the changing needs of customers. It develops and creates category-creating products to address specific needs in the Indian decorative paint market. Ceramic, Tiles And Sanitaryware companies CW profiles the Top Companies in this category.... Fastest Growing Ceramic, Tiles And Sanitaryware Companies KAJARIA CERAMICS Kajaria Ceramics is a company in the building products and bathroom solutions space with three decades of experience. It is in the business of ceramic wall and floor tiles, polished and glazed vitrified tiles, bathroom solutions, and plywood and laminates. With eight state-of-the-art tile manufacturing plants spread across six locations, the major focus of the company has been on technology and capacity enhancement. It also has a bathware and sanitaryware manufacturing facility. With a cumulative 82.8 MSM tile manufacturing capacity, it is India’s largest and world’s eighth largest tile manufacturer. Its annual sanitary and faucet manufacturing capacity is 750,000 pieces and 1 million pieces, respectively. The company’s total plant capacity has increased to 82.8 MSM during FY2022, due to its brownfield expansion of 4.20 MSM of ceramic floor tiles capacity in Gailpur (Rajasthan); 4.40 MSM of polished vitrified tiles capacity at the Jaxx Vitrified plant at Morbi (Gujarat); and 3.80 MSM of value-added glazed vitrified tiles capacity at Srikalahasti (Andhra Pradesh). These expansions will help cater to the unexplored parts of the country. As a synergic complement to its tiles business, the company has entered into the bathroom solution space, through its subsidiary Kajaria Bathware, manufacturing and marketing sanitaryware and faucets under the Kerovit brand. The company has carefully positioned its products between the premium MNC ranges and the unbranded players. The company’s compelling value-proposition is generating considerable interest and demand across key markets. As a further extension of its opportunity runway, the company through Kajaria Plywood (its subsidiary) initiated its presence in the plywood sector in FY2017-18 offering wood panel products under the brand name of Kajaria PLY and Kajaria LAMINATES. In FY2022, the company bettered its performance as its revenue from operations crossed the `3,000 crore benchmark. It recorded a revenue of `3,705.19 crore in FY2022, against `2,780.90 crore in FY2021, a growth of 33 per cent YoY. This growth was propelled by a surge in demand from the residential real estate segment, commercial office spaces segment, and home renovation segment uptick. ASIAN GRANITO Incorporated in 1995 as Karnavati Fincap, Asian Granito (AGL) started its tiles operations in 2001. Today, it is the fourth largest ceramic tiles company and a leading new-age luxury surfaces and bathroom solutions company headquartered in Ahmedabad, Gujarat. Over the years, AGL has grown into a multi-product company engaged in creating distinctive spaces that make a difference to homes and buildings globally. The company has grown from a `0.88 crore business in 2000 into a `1,563 crore as of FY2021-22. The extraordinary pace of the company’s growth is matched by a growing portfolio, expanding reach and enhanced capacities. Its total capacity is gone up from 0.83 million sq m per annum in 2000 to 34.5 million sq m per annum in FY2021-22. It has 67 distributors at strategic locations across 14 states and union territories, and 2,700 dealers and sub-dealers across 33 states and union territories. AGL’s product portfolio includes a wide range of products, including floor tiles, wall tiles, parking tiles, Glazed Vitrified Tiles (GVT), Polished Vitrified Tiles (PVT), double charge tiles, countertops, quartz surfaces, marble surfaces, sanitaryware, bathware, CP fittings, faucets and construction chemicals. Propelled by its insights into the evolving market in-depth expertise and understanding of building materials over the years, and powered by a large and diversified product portfolio, it has expanded its business outreach to 100 countries across the world. Within India, its presence spans across 35 states and Union Territories. The company is diversifying its base and evolving as a brand providing integrated solutions under one umbrella. For FY2021-22, the company has reported net sales of ` 1,563.8 crore, higher by 21 per cent over previous fiscal’s same period. EBITDA for the year ended March 2022 was reported at `124.6 crore (EBITDA margin at 8 per cent). Net profit stood at `91.8 crore (PAT margin 5.9 per cent), exports were at `204.9 crore. It aims to continue the growth momentum in the years to come and expects to cross net sales of `2,000 crore in FY2022-23. wood and wood product company CW profiles the Top Company in this category.... Fastest Growing Wood And Wood Product Company CENTURY PLYBOARDS Having commenced its operations in 1986, Century Plyboards is a leading wood panel company in India, with the largest plywood manufacturing capacity across the country. Over the years, the company has graduated from being a prominent player in India’s interior infrastructure sector to an industry leader. It is one of the most prominent brands in India’s interior wood products sector. Its product offerings include doors, plywood, laminates, veneers, MDF and particle board. It has a plywood manufacturing capacity of 300,000 CBM per annum, laminate manufacturing capacity of 8.77 million sheets per annum and MDF manufacturing capacity of 198,000 CBM per annum. The company has the highest market share of 25 per cent in the organised plywood segment and has retained its consistent leadership in India’s wood products industry. With its 36 years of existence, the company has launched a number of brands in these segments that have emerged as market leaders in the industry. With a workforce of over 6,300 people as on March 31, 2022, (excluding contractual employees), it has gained competencies in research, design manufacturing, branding, marketing, data sciences and finance. Today, it has a distribution network of more than 2,700 dealers and over 19,100 retailers and sales touch points. The company has 12 manufacturing units – nine domestic and three overseas. Its manufacturing facilities are located in Joka (West Bengal), Guwahati (Assam), Kandla (Gujarat), Chennai (Tamil Nadu), Karnal (Haryana) and Hoshiarpur (Punjab). Its units in Roorkee (Uttarakhand), Myanmar, Laos and Gabon are managed by its subsidiaries. From being an eastern India-based company, Century Ply today has a pan-Indian identity and exports its products to more than 20 countries. The company has transformed from a single-product company to a multi-product organisation. It has extended from a predominant proportion of revenues from plywood and has widened its presence across value-added laminates and MDF. The non-plywood interior infrastructure segments now account for 47 per cent of total revenues in FY2021-22. During the year ending FY2021-22, revenues from operations increased 42 per cent to `3,000.88 crore from `2,113.48 crore in FY2020-21. EBITDA increased to `557.33 crore compared to `334.25 crore in FY2020-21, while PAT witnessed was at `325.27 crore in FY2021-22, with an increase of 69 per cent.

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