Latest news with #Bangur
India.com
03-07-2025
- Business
- India.com
Meet West Bengal's richest person, who has a massive net worth of Rs 631200000000, lives in lavish mansion, his name is…, business is...
Meet Kolkata's richest man, richer than Narayana Murthy, owns luxurious mansion, his net worth is Rs 55732 crore, his business is... New Delhi: The City of Joy, Kolkata, is home to many industries operated by leading public and private sector companies, with major sectors including steel, mining, minerals, cement, and more. But do you know who the richest man in Kolkata is? Meet Benu Gopal Bangur, the man who is at the helm of the multimillion-dollar business empire Shree cement. Benu Gopal Bangur, the former Chairman of Shree Cement, is Kolkata's richest man. According to Forbes, Bangur has a real-time net worth of a massive USD 7.6 billion (approximately Rs 63,120 crore). Cement czar Benu Gopal Bangur gets his wealth from a majority stake in Shree Cement, one of India's most cost-efficient cement producers. The business magnate's humongous wealth is attributed to a majority stake in the cement manufacturing company, with a market capitalization of Rs 87,351 crore (as of August 2023), according to DNA India. According to the company website, Shree Cement is 'one of India's top three (and one of the most cost-efficient) cement producers with an installed cement production capacity of 50.4 MTPA and power generation Capacity of 742 Mega Watts including renewable energy sources.' All you need to know about Benu Gopal Bangur: Benu Gopal Bangur is the richest man in Kolkata Shree Cement was started in 1979 in Jaipur The company used to sells branded cement under the names of Shree Ultra Jung Rodhak, Bangur Cement and Rockstrong. Bangur hails from a storied business clan in Kolkata and got control of Shree Cement in the 1990s after a family split. Today the company is run by his son Hari Mohan, who was appointed chairman in 2022 after Bangur stepped down. His grandson Prashant is vice chairman. In July 2023, the federal Ministry of Corporate Affairs issued an inspection order alleging improper filing of income tax returns by Shree Cement. Education Benu Gopal Bangur holds a B. Com (Hons.) degree from Calcutta University. In October 2022, the 92-year-old businessman stepped down as Chairman of the Board of Shree Cement. His son Hari Mohan Bangur, a chemical engineer and IIT Bombay alum, is currently the Chairman of Shree Cement. Moreover, Benu Gopal's grandson and Hari Mohan's son Prashant Bangur is the Vice Chairman of the company. He holds an MBA in finance and logistics from the Indian School of Business, Hyderabad, and a Mathematics Honours from St. Xavier's College, Kolkata. Benu Gopal Bangur is widowed with two sons.
The Print
18-06-2025
- Business
- The Print
Iran-Israel conflict: Tea exporters anxious, orthodox prices start falling
Indian Tea Association Chairman Hemant Bangur said exporters remain cautious in terms of buying orthodox tea as they are not sure about shipments to Iran and might be worried about payments from importers of that country. They are also apprehensive that exporters may face hurdles in terms of rising freight charges and insurance costs for their shipment to Iran which is in the midst of a military conflict with Israel. Kolkata, Jun 18 (PTI) The ongoing conflict in West Asia has left tea exporters worried, as uncertainty prevailed over shipment prospects to Iran and an early sign of 'falling' prices of the orthodox tea variety, which that country usually imports from India, was noticed, according to stakeholders. 'Exporters have exercised a cautious stance to source orthodox tea through the auction route as they are facing uncertainty over shipment volume to Iran and are concerned about payment. This has pulled both the sale percentage and prices of orthodox teas downward,' Bangur told PTI. The orthodox tea is considered a premium variety and money spinner as it helps planters and traders realise better prices. 'Iran is roughly a 35 million kg market for India and is an important trading partner for us. The conflict between Iran and Israel is a matter of worry. Currently, we are waiting and watching. Exporters are in touch with Iranian importers,' Indian Tea Exporters' Association chairman Anshuman Kanoria told PTI. Due to the uncertainty looming large, exporters remain 'conservative in buying tea for Iran', and this has impacted the sale percentage and prices of the orthodox variety of tea, he said. 'In the last few days, the orthodox tea market in terms of sales and prices has been down by roughly 5-10 per cent, and this is mainly because of the uncertainty arising out of the geo-political tension between Iran and Israel. Prior to the conflict, orthodox market sentiment was optimistic. However, we are hopeful for an early solution to the conflict,' Kanoria said. Echoing him, one of the top exporters, Asian Tea Company's Director Mohit Agarwal said that the sale of the Assam orthodox has stopped since the conflict unfolded and the exporters are anxious. 'Iran is mostly an Assam orthodox market and since the conflict started, the auction sale quantity has dropped and prices of such variety in the auction are down by 5 to 10 per cent. However, it is too early to assess the situation. It is more of a wait-and-watch situation now. If the conflict prolongs, it will cast a shadow on the prospect of tea exports, but we are hoping for a quick resolution,' Agarwal told PTI. The situation could worsen if the tension escalates and the conflict spreads to other countries in the West Asia region, the exporters said. 'If this geo-political conflict persists, it is likely to disrupt the supply chain and adversely impact the overall tea shipment. This may impact the prices of the orthodox variety in the near future. During the April-May period this year, the cumulative orthodox price was Rs 20 a kg higher, while the prices of the CTC variety were flat,' rating agency ICRA Vice President and Sector Head Sumit Jhunjhunwala told PTI. The overall West Asia market, including Iran, Iraq, Qatar, Saudi Arabia and UAE, consumes around 90 million kg of Indian tea, Jhunjhunwala said. South India Tea Exporters Association Chairman Dipak Shah said exporters are keeping their fingers crossed as freight costs and insurance expenses for shipment are likely to increase if the Iran-Israel conflict lasts for a long time. 'Iran predominantly buys orthodox tea from north India, but a certain quantity moves out to Iran from south India. There is apprehension among exporters about how the situation will pan out in the next few days. Obviously, nobody wants to venture into a country engaged in a military conflict,' Shah told PTI. Tea exports from India increased by 9.92 per cent to 254.67 million kg, from January to December 2024, as against 231.69 million kg in the previous calendar year. According to Tea Board provisional data for the period between January and March 2025, the exports during the three months stood marginally higher at 69.22 million kg as compared to 67.53 million kg in the corresponding period of the previous year. PTI BDC NN This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
17-06-2025
- Business
- Time of India
Buy Shree Cements, target price Rs 35,330: ICICI Securities
ICICI Securities has a buy call on Shree Cements with a target price of Rs 35,330. The current market price of Shree Cements Ltd. is Rs 29,659.9. Shree Cements, incorporated in 1979, is a Large Cap company with a market cap of Rs 106958.49 crore, operating in the Cement sector. Shree Cements Ltd. key Products/Revenue Segments include Cement & Clinker, Power, Traded Goods, Other Operating Revenue and Scrap for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 5689.95 crore, up 21.49% from last quarter Total Income of Rs 4683.46 crore and up 1.93% from last year same quarter Total Income of Rs 5582.44 crore. The company has reported net profit after tax of Rs 574.99 crore in the latest quarter. The company's top management includes Mr.H M Bangur, Bangur, Akhoury, Ahmed, Somany, Kumar Roongta, Ghurka, Krishnaji Shelgikar. Company has B R Maheshwari & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 4 crore shares outstanding. Investment Rationale Shree Cement?s (SRCM) FY26 playbook, as articulated by Chairman Mr H M Bangur, seems decisive and leaves little room for ambiguity. Prioritising ?value over volume?, SRCM has guided: 1) 2?3% volume growth vs. 7?8% estimated for industry; 2) a target EBITDA/t of INR 1,400 ? being broadly at par with Q4FY25 (FY25 stood Rs 1,070/t). The volume guidance corroborates our channel-check findings viz., SRCM restraining its volume-push and focussing not just on higher pricing, but also on narrowing the gap with larger peers. Further, cash-rich SRCM has hinted at a special reward for shareholders in year 2025 (incidentally marks SRCM?s 40th anniversary since commencing operations). By and large, the company?s stance (value over volume) is in sync with our Dec?24 sector upgrade hypothesis of a pronounced tapering in industry-wide competitive intensity. The improving margin outlook for the sector keeps us as enthused as before; maintain BUY with an unchanged target price of Rs 35,330. Promoter/FII Holdings Promoters held 62.55 per cent stake in the company as of 31-Mar-2025, while FIIs owned 9.7 per cent, DIIs 15.06 per cent.
Time of India
19-05-2025
- Business
- Time of India
Large cement makers report volume growth in Q4 2025
NEW DELHI: Large cement companies have reported a volume growth in the March 2025 quarter and expect enhanced performance in FY26 on better sales realisation and stable demand. Leading listed cement firms like UltraTech, Ambuja Cements , ACC , Shree Cements , and Dalmia Bharat have retained around 7 to 7.5 per cent growth for the cement industry in FY26, following government spending on infrastructure projects and rural recovery. However, they are cautious about the geopolitical tensions and changing trade landscape. In the March quarter, cement makers reported gains in volumes, ranging from 3.5 to 10 per cent and an enhanced capacity utilisation on a year-on-year basis. However, their topline numbers continue to face challenges on account of lower year-on-year sales realisation, though input costs for coal, petcoke and diesel were significantly cheaper. The all-India average cement price was around Rs 350 per 50 kg bag in March 2025. Overall, in FY25, cement prices declined by 7 per cent year-on-year to Rs 340/bag. In FY24, the average prices stood at Rs 365/bag against Rs 375/bag in FY23, according to an Icra report. The rating agency expects an improvement in operating margins for the cement companies in FY26, helped by tailwinds, as a marginal hike in cement prices and stable input costs. The cement industry, which is witnessing consolidation where two large makers are snapping the small companies in the quest for inorganic growth, saw a lower sales realisation due to falling prices. In Q4, UltraTech's consolidated sales volumes reached 41.02 Million Tonnes (MT), and for the entire fiscal 2024-25, it achieved the highest sales volumes of 135.83 million metric tonnes for the year, helped by acquisitions and ongoing expansions. Q4 FY25 and April saw some improvement in prices, said the top management of the Aditya Birla group flagship firm in a post-earnings call. "We believe that this quarter, cement demand overall for the country would have grown around 4 per cent. And in that backdrop, UltraTech has done close to 10 per cent volume growth," its CFO Atul Daga said. Similarly, Ambuja Cements, the second-largest cement manufacturer of the country, reported a consolidated sales of 18.7 million tonnes in the March quarter, which was the "highest ever volume in a quarter" for the company. In FY25, Ambuja Cements' total consolidated income was Rs 37,649.01 crore. The company, which also owns ACC, Sanghi Industries and Penna Industries, crossed 100 million tonnes per annum (MTPA ) capacity and with more expansions in the pipelines, it aims 118 MTPA by the end of FY26. Bangur family promoted Shree Cement, the third-largest cement group by capacity, though it reported a decline of 14.9 per cent in its consolidated net profit to Rs 575 crore for the March quarter, its revenue rose 2.42 per cent to Rs 5,532.02 crore. In the March quarter, Shree Cements' total sales volume was 9.84 million tonnes (MT), which, according to the company, is the "highest" quarterly volume achieved by it. Shree Cements also reported a higher growth coming from the premium segment and expects this trend to continue in FY26. The company expects the cement industry to achieve 6.5-7.5 per cent demand growth, fuelled by infra projects, rural recovery and real estate momentum in FY26, though external challenges in terms of geopolitical conflicts and trade barriers by key economies will persist. Dalmia Bharat also reported an increase in sales volume by 2.8 per cent to 8.6 MT, though its revenue from operations slipped 5 per cent to Rs 4,091 crore in the March quarter on account of softening prices. South-based India Cements Ltd (ICL), now an Aditya Birla Group firm, has reported a net profit of Rs 14.68 crore after several quarters, though its revenue from operations was down 3.11 per cent to Rs 1197.30 crore. MP Birla Group firm Birla Corporation has reported an increase of 32.7 per cent in its net profit to Rs 256.6 crore for the March quarter, and its revenue was up 6 per cent at Rs 2,814.91 crore. Orient Cement, now owned by Adani Group's Ambuja Cement, has reported a decline of 38.3 per cent in its net profit to Rs 42.07 crore. The revenue of the cement maker, earlier owned by the CK Birla group, declined 7.07 per cent to Rs 825.18 crore in the March quarter. According to UltraTech, in FY25, the cement industry ended with a capacity of about 655 MT, up from 625 MT a year ago.
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Business Standard
18-05-2025
- Business
- Business Standard
Cement majors post Q4 volume growth, expect to continue momentum in FY26
Large cement companies have reported a volume growth in the March 2025 quarter and expect enhanced performance in FY26 on better sales realisation and stable demand. Leading listed cement firms like UltraTech, Ambuja Cements, ACC, Shree Cements, and Dalmia Bharat have retained around 7 to 7.5 per cent growth for the cement industry in FY26, following government spending on infrastructure projects and rural recovery. However, they are cautious about the geopolitical tensions and changing trade landscape. In the March quarter, cement makers reported gains in volumes, ranging from 3.5 to 10 per cent and an enhanced capacity utilisation on a year-on-year basis. However, their topline numbers continue to face challenges on account of lower year-on-year sales realisation, though input costs for coal, petcoke and diesel were significantly cheaper. The all-India average cement price was around Rs 350 per 50 kg bag in March 2025. Overall, in FY25, cement prices declined by 7 per cent year-on-year to Rs 340/bag. In FY24, the average prices stood at Rs 365/bag against Rs 375/bag in FY23, according to an Icra report. The rating agency expects an improvement in operating margins for the cement companies in FY26, helped by tailwinds, as a marginal hike in cement prices and stable input costs. The cement industry, which is witnessing consolidation where two large makers are snapping the small companies in the quest for inorganic growth, saw a lower sales realisation due to falling prices. In Q4, UltraTech's consolidated sales volumes reached 41.02 Million Tonnes (MT), and for the entire fiscal 2024-25, it achieved the highest sales volumes of 135.83 million metric tonnes for the year, helped by acquisitions and ongoing expansions. Q4 FY25 and April saw some improvement in prices, said the top management of the Aditya Birla group flagship firm in a post-earnings call. "We believe that this quarter, cement demand overall for the country would have grown around 4 per cent. And in that backdrop, UltraTech has done close to 10 per cent volume growth," its CFO Atul Daga said. Similarly, Ambuja Cements, the second-largest cement manufacturer of the country, reported a consolidated sales of 18.7 million tonnes in the March quarter, which was the "highest ever volume in a quarter" for the company. In FY25, Ambuja Cements' total consolidated income was Rs 37,649.01 crore. The company, which also owns ACC, Sanghi Industries and Penna Industries, crossed 100 million tonnes per annum (MTPA ) capacity and with more expansions in the pipelines, it aims 118 MTPA by the end of FY26. Bangur family promoted Shree Cement, the third-largest cement group by capacity, though it reported a decline of 14.9 per cent in its consolidated net profit to Rs 575 crore for the March quarter, its revenue rose 2.42 per cent to Rs 5,532.02 crore. In the March quarter, Shree Cements' total sales volume was 9.84 million tonnes (MT), which, according to the company, is the "highest" quarterly volume achieved by it. Shree Cements also reported a higher growth coming from the premium segment and expects this trend to continue in FY26. The company expects the cement industry to achieve 6.5-7.5 per cent demand growth, fuelled by infra projects, rural recovery and real estate momentum in FY26, though external challenges in terms of geopolitical conflicts and trade barriers by key economies will persist. Dalmia Bharat also reported an increase in sales volume by 2.8 per cent to 8.6 MT, though its revenue from operations slipped 5 per cent to Rs 4,091 crore in the March quarter on account of softening prices. South-based India Cements Ltd (ICL), now an Aditya Birla Group firm, has reported a net profit of Rs 14.68 crore after several quarters, though its revenue from operations was down 3.11 per cent to Rs 1197.30 crore. MP Birla Group firm Birla Corporation has reported an increase of 32.7 per cent in its net profit to Rs 256.6 crore for the March quarter, and its revenue was up 6 per cent at Rs 2,814.91 crore. Orient Cement, now owned by Adani Group's Ambuja Cement, has reported a decline of 38.3 per cent in its net profit to Rs 42.07 crore. The revenue of the cement maker, earlier owned by the CK Birla group, declined 7.07 per cent to Rs 825.18 crore in the March quarter. According to UltraTech, in FY25, the cement industry ended with a capacity of about 655 MT, up from 625 MT a year ago.
