“…this is to inform you that the M/s Star Cement Meghalaya Limited, a Subsidiary of the Company, has been declared as the ‘Preferred Bidder’ for Composite License of Boro Hundong Limestone Block in e-auctions conducted by the Government of Assam,” according to a stock exchange filing.
The limestone block, located in Dima Hasao district, spans 400 hectares and holds an estimated limestone resource of 146.75 million tonne. “The aforesaid block is situated in District: Dima Hasao (Formerly North Cachar Hills), Assam over an area of 400 hectares with estimated limestone resource of 146.75 million tonnes,” it said.
Also Read: Are Cement stocks turning a corner? Here are top picks from DAM Capital
Last year, UltraTech Cement announced the acquisition of an 8.69% stake in Star Cement Ltd from its promoter group for ₹851 crore. In an exchange filing, UltraTech said that the shares were acquired at a price of ₹235 per share during the block deal window. UltraTech said in its exchange filing that this is a non-controlling minority stake that it has acquired in Star Cement.
Star Cement is based out of the north-eastern state of Meghalaya and had reported an overall turnover of ₹2,910 crore in financial year 2024. Star Cement has a 7.7 MTPA grinding capacity and 6.1 MTPA clinker capacity, a dealer network of close to 2,000 and a retailer network of over 12,500.
In the north-eastern market, Star Cement commands a 26.5% market share. Premium sales account for 10.6% of overall sales, according to its investor presentation it shared for the September quarter. The company also has two upcoming units in the Silchar and Jorhat districts of Assam and has a capex plan of ₹380 crore for the second half of the current financial year.
Also Read: Dalmia Bharat begins commercial production at 2.4 MTPA cement grinding unit in Assam
Shares of Star Cement Ltd ended at ₹204.50, down by ₹0.55, or 0.27%, on the BSE.
