Star Cement, headquartered in Meghalaya, reported a turnover of Rs 29.1 billion for the financial year 2024. The company holds a dominant 26.5 per cent market share in the northeastern cement market, supported by a grinding capacity of 7.7 million tonne per annum (MTPA) and clinker capacity of 6.1 MTPA. Its distribution network includes approximately 2,000 dealers and over 12,500 retailers. Premium sales account for 10.6 per cent of the company’s overall sales.

In addition to this stake acquisition, UltraTech recently acquired a controlling 32.72 per cent stake in India Cements, triggering an open offer priced at Rs 390 per share. The deal made India Cements a subsidiary of UltraTech, adding 14.5 million tonne (mn t) to UltraTech’s production capacity.

Star Cement has also been expanding its resource base and operations. In the September quarter, the company emerged as the preferred bidder for six limestone blocks in Rajasthan’s Beawar district, with estimated geological reserves of 63.9 mn t spread across 95.68 hectare. Additionally, the company is setting up new units in Silchar and Jorhat districts of Assam, with a planned capital expenditure of Rs 3.80 billion for the second half of the financial year.

The strategic acquisition by UltraTech further consolidates its position in the Indian cement market while providing exposure to Star Cement’s strong presence in the north-eastern region.