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Star Cement

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Star Cement
FormerlyCement Manufacturing Company
Company type Public
Industry Building materials
Founded2 November 2001
FounderSajjan Bhajanka
Headquarters Northeast India,
India
Products Cement
Website starcement.co.in

Star CementLtd.(formerly known as Cement Manufacturing Company) is a cement manufacturing company in India and the largest cement manufacturer in Northeast India. [1] [2]

History

It was founded by Sajjan Bhajanka and Sanjay Agarwal [3] on 2 November 2001 under the name "Cement Manufacturing Company Limited". The company is engaged in the sale and manufacturing of cement. Star Cement's manufacturing plants are located in Khliehriat and Guwahati. [4] The company has occupied more than 500 to 1,000 hectares of land in Jaintia Hills district. [5] It obtains coal from the local market for fuel at a price of 8,000 rupees per tonne. [6] In January 2021, it expanded its business to East India [7] by opening a new plant in West Bengal worth 4.5 billion. [8] In August 2021, the company approves a share buyback proposal. In June 2022, the company invested 17–18 billion rupees in doubling the capacity of clinker and adding a capacity of 4 million tonnes to grinding [9] and donated 10 million to Assam CM’s Relief Fund. [10] [11]

References

  1. ↑ Singh, Rajiv (2022-09-29). "Meghalaya's Star Cement Is The Largest Player In Northeast. Can It Shine Pan India?". Forbes India . Retrieved 2023-01-04.
  2. ↑ Xaxa, Virginius; Saha, Debdulal; Singha, Rajdeep (2018-08-06). Employment and Labour Market in North-East India: Interrogating Structural Changes. Taylor & Francis. ISBN   978-0-429-82346-6.
  3. ↑ Jacob, Thomas (2015). Strategic Management. Pearson Education India. ISBN   978-93-325-4469-7.
  4. ↑ "Star Cement Ltd. - Company History". Business Standard . Retrieved 2023-01-04.
  5. ↑ Dutta, Bitopi (2022-03-03). Mining, Displacement, and Matriliny in Meghalaya: Gendered Transitions. Taylor & Francis. ISBN   978-1-000-55263-8.
  6. ↑ Jethmalani, Harsha (2019-03-19). "Star Cement's lower valuations reflect concerns on operating margins". Live Mint . Retrieved 2023-01-04.
  7. ↑ Jauhari, Ujjval (2021-01-01). "Star Cement eyes expansions in eastern India to drive growth". Live Mint . Retrieved 2023-01-04.
  8. ↑ "Star Cement's Rs 450 crore Bengal plant ready, to start ops soon: MD". The Economic Times . Retrieved 2023-01-04.
  9. ↑ Roy, Shobha (2022-06-05). "Star Cement to invest close to ₹1,700-1,800 crore". Business Line . Retrieved 2023-01-04.
  10. ↑ Kayum, Karishma (2022-06-23). "Star Cement donates Rs 1 cr to Assam CM's Relief Fund". EastMojo. Retrieved 2023-01-04.
  11. ↑ Vaibhav Gautam, Bansode (2022-09-28). Abhishek, Hemant (ed.). "Cement stocks gain up to 10% in otherwise weak market; mid-cap companies outperform heavyweights". Zee Business . Retrieved 2023-01-04.
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