The Big Players in Indian Cement

A handful of large groups, including UltraTech, Adani's Ambuja and ACC, Shree, Dalmia and others, now control a large part of India's cement capacity.

India’s cement industry once had many mid-sized firms. Today a few large groups are far bigger than the rest.

UltraTech

Part of the Aditya Birla Group, UltraTech Cement is India’s largest cement maker.

Adani group

The Adani group bought Ambuja Cements and ACC from Holcim in 2022, making it the second-largest player, and has kept expanding since.

Other groups

Shree Cement, Dalmia Bharat, Ramco, JK Cement, Birla Corporation and others make up much of the rest, alongside many smaller regional producers.

Why size helps

Large groups can buy fuel cheaper, run more plants and negotiate with dealers, which gives them an edge over small producers.

From Holcim to Adani

When the Swiss company Holcim exited India, the two well-known brands, Ambuja and ACC, changed hands in a single large deal.

Assuming brands equal separate companies

Several cement brands can be owned by one group.

Key takeaways

A few groups lead the industry.
UltraTech is the largest.
Adani took over Ambuja and ACC in 2022.
Scale lowers costs and gives bargaining power.