India Cements is one of India’s well-known cement companies and has played an important role in the country’s industrial and sporting landscape. Established in 1946, the company developed a strong presence in the cement industry, particularly across southern India. Over the decades, India Cements became associated not only with construction and infrastructure but also with cricket through its historic connection with the Chennai Super Kings.
For cricket fans interested in understanding the business background behind Chennai Super Kings, this detailed guide on who owns CSK explains the franchise’s ownership history and its connection with India Cements and the Srinivasan family. The relationship between India Cements and CSK is an important part of the franchise’s early IPL history.
What Is India Cements?
India Cements Limited is an Indian cement manufacturer with a long history in the country’s building-materials sector. The company was established in 1946 and gradually expanded its manufacturing operations and product portfolio.
Its core business has traditionally focused on manufacturing and selling grey cement and ready-mix concrete. The company developed a particularly strong presence in southern India, with Tamil Nadu and other southern markets becoming important areas for its operations.
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India Cements and the Chennai Super Kings Connection
India Cements became closely associated with the Chennai Super Kings after the franchise entered the IPL in 2008. The company was historically connected with the ownership and management of the franchise, making its name familiar to millions of IPL supporters.
The relationship between India Cements and CSK became particularly prominent because N. Srinivasan, who was a leading figure at India Cements, was also closely associated with the Chennai franchise. This connection helped make India Cements an important part of the story of CSK’s early years.
However, the ownership structure later changed. Chennai Super Kings Cricket Limited was established as a separate entity in 2014, and the franchise’s corporate structure evolved following changes involving BCCI regulations and conflicts of interest.
India Cements’ Role in Indian Industry
India Cements built its reputation primarily through the manufacture and sale of cement and related building products. Its operations supported construction and infrastructure development across major markets in southern India.
The company’s brands and manufacturing network helped it establish a recognizable position in the Indian cement industry. Over the years, India Cements also participated in several related businesses, making it more than simply a cement manufacturer.
Its long history illustrates the importance of regional manufacturing companies in India’s industrial development, particularly during periods of rapid urbanization and infrastructure expansion.
Acquisition by UltraTech Cement
One of the biggest developments in the modern history of India Cements came with its acquisition by UltraTech Cement. UltraTech announced in July 2024 that its board had approved the purchase of a 32.72% stake in India Cements from the promoter group, alongside an open offer for public shareholders.
The Competition Commission of India subsequently approved UltraTech Cement’s acquisition of India Cements in December 2024.
UltraTech later completed the acquisition, and India Cements became a subsidiary of UltraTech Cement. UltraTech’s own corporate history records the completion of the India Cements acquisition in 2024.
India Cements Under UltraTech
The change in ownership marked a major new chapter for India Cements. According to India Cements’ 2025–26 annual report, UltraTech Cement held approximately 74.998% of India Cements as of March 31, 2026, making it the company’s controlling shareholder.
The acquisition strengthened UltraTech’s presence in southern India and expanded its manufacturing and market footprint. India Cements therefore continues to operate as an important business within the wider UltraTech structure.
For the cement industry, the transaction represented a significant consolidation involving two major players. For India Cements, it also marked the transition from its long history as an independent company to becoming part of a much larger cement group.
India Cements and N. Srinivasan
The history of India Cements is also strongly associated with N. Srinivasan. He was one of the most recognizable figures connected with the company and became particularly well known in Indian cricket because of his involvement with the Board of Control for Cricket in India and Chennai Super Kings.
Through the company’s historical connection with CSK, India Cements became part of one of the most successful stories in IPL history. The franchise won multiple IPL titles and developed one of the strongest fan bases in the competition.
Although the corporate ownership structure of CSK evolved separately, the historical association between India Cements, Srinivasan and Chennai Super Kings remains an important part of the franchise’s background.
Why India Cements Became Important to Cricket Fans
Most cement companies are primarily known for their industrial activities, but India Cements gained additional visibility through its involvement with cricket. The company’s association with CSK meant that its name frequently appeared in discussions about IPL ownership, franchise management and Indian cricket administration.
This connection also demonstrated how major Indian businesses have historically played an important role in professional sports. The IPL created a platform where companies and business leaders could become directly involved with sports franchises and build strong commercial relationships with fans.
India Cements and the Changing IPL Ownership Landscape
The story of India Cements and CSK also reflects how IPL franchise ownership has evolved. When the league began in 2008, franchise ownership structures were closely linked with large corporate groups and prominent business personalities.
Over time, regulatory changes and corporate restructuring resulted in several franchises adopting separate ownership companies. CSK followed this broader pattern, with Chennai Super Kings Cricket Limited becoming the corporate entity associated with the franchise.
This distinction is important when discussing the current ownership of CSK because India Cements’ present corporate structure is different from its historical relationship with the IPL team.
The Future of India Cements
Under UltraTech Cement, India Cements has entered a new phase of its corporate history. The company remains focused on cement and related businesses while benefiting from the resources and wider market presence of its parent company.
India Cements’ annual report for 2025–26 identifies UltraTech Cement as its holding company and confirms the significant change in shareholding following the acquisition.
The combination of India Cements’ established southern India presence and UltraTech’s scale could provide opportunities for operational efficiency, market expansion and further development of the company’s cement business.
Conclusion
India Cements has a unique place in Indian corporate history because its story extends beyond the cement industry. From its establishment in 1946 and growth as a major southern Indian cement manufacturer to its historic association with Chennai Super Kings, the company has been connected with both business and cricket.
Its acquisition by UltraTech Cement in 2024 marked a major transformation, with India Cements becoming a subsidiary of one of India’s largest cement companies.
For cricket fans, however, India Cements will continue to be remembered for its historical connection with Chennai Super Kings and the early development of one of the IPL’s most successful franchises.
