Benu Gopal Bangul has a net worth of $7.3 billion which he made from Shree Cement. His company is one of the most efficient cement producers in India.
The construction of Shree Cement plant started in 1970 and took until 1985 to complete. In those days delays were common in construction. The first bag of cement was sold in 1986.
Today the company produces 13.5 million tonnes of cement from eight units. The company has plans to expand the production capacity to 25 million tonnes. Shree Cement has set up a 560 MW of power capacity used for Ras and Beawar plants in Rajasthan and part of the electricity is sold to the grid in Rajasthan.
Shree Cement was established in 1979 in Jaipur and sells branded cement under the brand names Rockstrong, Shree Ultra Jung and Bangur Cement.
Billionaire Bangur originates from a successful business clan in Kolkata and became the head of the cement company in the 1990s after a family split.
The son of Benu Gopal Bangul, Hari Mohan, is the head of the company. He was appointed chairman in October 2022 when Benu Gopal stepped down.
In July 2023, the federal Ministry of Corporate Affairs issued an inspection order accusing Shree Cement of not filing of income tax returns. The company has since denied those tax evasion allegations.
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