- Benu Gopal Bangur, born into a traditional Marwari family in Kolkata, was focused on both academics and business. He became the first graduate in his family by earning a B. Com (Hons.) degree from Calcutta University and then joined the family’s stock broking business.
- In the 1960s, his grandfather Mugnee Bangur’s 47-year-old family business expanded into jute, tea, paper, and cotton, becoming one of the top 10 wealthiest families in India. As Bangur’s business grew and entered new sectors, Benu took on a challenging new role.
- He was tasked with setting up the cement business in their native place, Beawar in Rajasthan. On October 25, 1979, Shree Cements was born.
- To minimize fuel and power consumption, Benu adopted the latest dry process and an air-swept roller mill grinding system for raw material and coal grinding. As he prepared the company for production, he took it public on BSE in 1984. The following year brought big news.
- In 1985, Shree Cements deployed the first integrated cement plant with a capacity of 0.6 metric tonnes annually in Beawar, commencing production on May 1, 1985. For its dry power-saving needs, he installed a diesel-generating set of 13.6 MW, which worked like magic.
- By 1997, Shree Cements had become one of the largest cement companies in North India, with their second 1.24 metric tonnes cement plant in Beawar, producing over 2 million tonnes of cement annually. When everything seemed perfect, things changed.
- In 1997, the 84-year-old family business was divided among five brothers, and Benu had to run Shree Cements independently. Not losing hope, he commissioned the first 6 MW captive thermal power plant and realized he could sell this power to distribution companies. In 2009, Benu entered the power sales market as well.
- By 2012, Shree Cements was generating revenue of 4544.31 CR, with 1045.94 CR coming from power. It produced various types of cement including Shree Ultra OPC and Jungrodhak (for buildings and rust prevention), Bangur Cement, and Rockstrong (for harsh environments). Yet, he felt something was missing.
- Recognizing the need for more premium brands as India modernized, in 2019, he launched Roofon and Bangur Power to attract niche top-value chain customers. The strategy worked, and by 2021, Shree Cements had achieved revenues of 12,588 CR with 4413 CR in profits.
- Today, Shree Cements, now rebranded as Bangur Cements, boasts a 983 MW power capacity and 53.4 million tonnes of cement annually across 23 plants globally. With a valuation of 100,690 CR, it stands as the third-largest cement company in India.
➡️ At 93, Benu Gopal Bangur is worth 62,320 CR, but his Project NAMAN continues to address key social issues, impacting 10 million people across 255 villages in India.