A small cement plant was up for sale in the bustling market of Jaipur. For a young entrepreneur from a third-generation business family, this was more than an opportunity—it was a chance to carve a unique identity. Rajendra Chamaria, hailing from a lineage rooted in the timber and concrete sleeper manufacturing business for railways in Northeast India, saw potential where others saw risk.
Chamaria, who joined his father’s business in 1979 after graduating in Assam, initially had a cursory understanding of the cement industry. However, a book on cement, mortar, and concrete sparked an instant connection, motivating him to explore the cement sector further. The key to his decision lay in a fundamental business principle: assessing market availability and raw materials.
In the early ’70s, Chamaria’s father relocated to Arunachal Pradesh to rebuild the timber business, leveraging a robust market and abundant resources. Inspired by this, Chamaria evaluated Jaipur and Himachal Pradesh but found them lacking in raw material supply. Conversely, the Northeast, his home turf, presented a booming market and ample limestone reserves, the primary ingredient for cement manufacturing.
Despite skepticism from family, friends, and industry observers, Chamaria pursued his vision. He partnered with Sajjan Bhajanka and Sanjay Agarwal of CenturyPly, launching Cement Manufacturing Company Limited (CMCL) in Arunachal Pradesh in 2001. By 2005, they expanded into Lumshnong, Meghalaya, establishing an integrated plant, followed by additional units and a power plant. In 2016, CMCL rebranded as Star Cement and was listed on the stock exchange the following year.
Today, in 2023, Star Cement stands as the largest cement producer in Northeast India, commanding a 23% market share. With six manufacturing units—four in Lumshnong and one each in Siliguri and Guwahati—Star Cement has built an extensive network of over 1,600 dealers and 12,000 retailers. Financially robust and debt-free, the company’s revenue soared from ₹1,831.04 crore in FY19 to ₹2,221.82 crore in FY22, surpassing ₹1,800 crore in the first three quarters of FY23. Profits during these periods were ₹304.97 crore, ₹246.77 crore, and ₹95.17 crore, respectively.
Chamaria’s journey from a timber business to establishing Star Cement as a dominant player in the Northeast is a testament to his vision and resilience, proving that with the right strategy and determination, new ventures can thrive against all odds.
