Saurashtra Cement

What Saurashtra Cement does

Saurashtra Cement Limited is an Indian cement and building materials manufacturer headquartered in Ahmedabad, Gujarat, founded in 1956 and publicly listed. The company operates as part of The Mehta Group with Mohinder S Gilotra as founder and managing director, and its primary cement brand is Hathi Cement. Its geographic focus is Gujarat and surrounding regions of India, distributed through an established dealer and contractor network. The company also operates the wholly-owned Snowcem Paints sub-brand, which has historically been associated with exterior cement paints and is being repositioned as a broader coatings franchise.

The company's core business is the manufacturing and sale of cement products under the Hathi Cement brand, supplemented by the Snowcem Paints portfolio of interior emulsions, waterproofing solutions, textures, putties, primers, specialty coatings, and exterior cement paints. The underlying technology is conventional cement manufacturing and coatings formulation. Product surface has been intentionally widened on the paints side, anchored by the June 2026 'Rangon Ki Virasat' long-term brand initiative supported by brand ambassador Juhi Chawla. Distribution runs through regional dealer and contractor channels targeting builders, contractors, infrastructure companies, and homeowners.

Saurashtra Cement earns revenue primarily through one-time product sales of cement and paints to construction and infrastructure customers. Reported FY2026 (year ending March 2026) annual sales were Rs 1,666.04 crore, up 8.35% year-on-year, with full-year net profit of Rs 14.42 crore up 106.59% year-on-year, though Q4 FY2026 showed revenue down 6.57% YoY and net profit down 42.78% YoY. In February 2026 the company entered a five-year agreement with Zaggle Prepaid Ocean Services to deploy the Zaggle Save platform for employee expense management. The company's largest prior institutional shareholder, Fairfax India Holdings, divested its full 51% stake in December 2025 for $74.6 million in gross proceeds, leaving the current controlling shareholder undisclosed in the available data.

Name

Saurashtra Cement

Legal name

Saurashtra Cement Limited

Website

https://hathi-sidheecements.com

Company type

Public

Founded year

1956

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Saurashtra Cement Limited is an Indian cement and building materials manufacturer under The Mehta Group, headquartered in Ahmedabad, Gujarat. It produces Hathi Cement and the Snowcem Paints coatings portfolio, serving construction and infrastructure buyers through dealer and contractor networks across Gujarat.

Ownership category

akta.pro rank

Product category

Cement Manufacturing

NAICS

Cement Manufacturing (327310), Cement and Concrete Product Manufacturing (3273)

SIC

Cement, Hydraulic (3241), Paints, Varnishes, Lacquers, Enamels & Allied Prods (2851)

akta.pro primary industry

Cement Manufacturing (Portland, Blended & Specialty) (IMADAAAG)

akta.pro secondary industries

Textured Wall Finishes (Plasters, Stucco, Tadelakt) (IMADAKAH), Construction Sealants (Joint, Façade & Perimeter) (IMADAOAB)

Keywords

• Cement manufacturing
• Construction materials
• Cement paints
• Building products
• Waterproofing coatings

Headquarters

HQ city

Ahmedabad

HQ country

India

HQ region

Asia

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Cement Sales: Manufacturing and sale of cement products including Hathi Cement brand. The company operates as a cement manufacturer in Gujarat, India.

Distribution channels1 record

Marketing channels1 record

Core offering

Saurashtra Cement Limited manufactures and sells cement products under the Hathi Cement brand and a diversified range of paints and coatings under the Snowcem Paints brand. The company's portfolio includes exterior cement paints, interior emulsions, waterproofing solutions, textures, putties, primers, and specialty coatings, serving construction, infrastructure, residential, and commercial building projects primarily in Gujarat, India.

Product overview

Saurashtra Cement Limited operates primarily as a cement manufacturer, producing Hathi Cement as its core product brand under The Mehta Group. The company has diversified into the paints segment through its Snowcem Paints sub-brand, which has expanded beyond its original exterior cement paints to offer a full range of coating solutions including interior emulsions, waterproofing solutions, textures, putties, primers, and specialty coatings.

Differentiator

Problem solved

Functional benefit

Brands

• Snowcem Paints: Brand under Saurashtra Cement Limited offering interior emulsions, waterproofing solutions, textures, putties, primers, specialty coatings, and exterior cement paints

Products and services

• Hathi Cement
• Snowcem Paints

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Zaggle Prepaid Ocean Services LimitedcoreTechnology or Integration · 26 February 2026Five-year agreement with Zaggle Prepaid Ocean Services to deploy the Zaggle Save platform for employee expense management and benefits services. The deal adds a long-term revenue stream and demonstrates growing demand for digitalized employee spend tools in Indian corporates.

Scale indicators5 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Shree Cement: Listed Indian cement manufacturer with operations across multiple regions, known for capital efficiency and strong margins. Comparable to Saurashtra as a public Indian cement peer competing for the same end-customers, though with significantly higher scale.
• India Cements: Listed Indian cement manufacturer with strong South India presence, historically focused on regional dominance. Comparable to Saurashtra as a mid-sized listed Indian cement company competing in commodity cement markets.
• JK Cement: Indian cement and wall putty manufacturer with grey and white cement operations. Particularly relevant as a peer given the white cement and wall putty adjacency to Saurashtra's Snowcem paint and putty offerings.
• Birla Corporation: Indian cement manufacturer with multi-state operations under the MP Birla Group. Listed cement peer with comparable end-market exposure to construction and infrastructure demand in India.
• Dalmia Bharat Limited: Mid-to-large Indian cement producer with a multi-regional footprint and listed status. Directly comparable to Saurashtra on Indian cement manufacturing economics, with overlap on construction and infrastructure customers.

Broad incumbents

• Ambuja Cements: Major Indian cement manufacturer (Adani/Holcim heritage) with strong West and North India presence including Gujarat. Directly comparable on cement manufacturing economics and Gujarat market exposure, though at materially larger scale than Saurashtra.
• UltraTech Cement: India's largest cement manufacturer with pan-India capacity and a broad product portfolio. It is the dominant price-setter in the Indian cement industry and a comparable for any domestic cement producer, including Saurashtra, although it is materially larger and far more geographically diversified.
• ACC Limited: One of India's oldest cement manufacturers with a national footprint and a long heritage brand, comparable to Saurashtra's Hathi Cement in legacy positioning. Overlapping product categories and shared exposure to Indian construction demand make it a direct read-across peer.

Others

• Snowcem Paints (within Saurashtra) / Berger Paints: Berger Paints is a major Indian decorative paints player, comparable to Saurashtra's Snowcem Paints subsidiary which has expanded into interior emulsions, waterproofing, textures, primers and specialty coatings. Both compete in the Indian decorative and specialty coatings market.

Regional players

• HeidelbergCement India: Subsidiary of Heidelberg Materials operating cement plants in Central India. Comparable to Saurashtra as an Indian-listed single-brand cement producer with a regional concentration, though not overlapping Gujarat geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Saurashtra Cement