Star Cement announced leadership changes with Tushar Bhajanka set to become MD & CEO, effective May 22, 2026. Shareholder approval via postal ballot is pending. The company also outlined financial performance and strategic growth plans.
Star Cement Announces Leadership Transition
Star Cement has announced a significant leadership transition, with Tushar Bhajanka slated to take over as Managing Director & CEO, and Prem Kumar Bhajanka moving to Vice Chairman & Managing Director. These changes are effective May 22, 2026, pending shareholder approval through a postal ballot.
What just happened
The Board of Directors approved the appointment of Tushar Bhajanka as Managing Director & CEO and elevated Prem Kumar Bhajanka to Vice Chairman & Managing Director. Shareholder approval for these changes and associated remuneration proposals will be sought via postal ballot and remote e-voting from July 11 to August 9, 2026. Tushar Bhajanka is proposed to receive ₹3 crore annually plus incentives, while Prem Kumar Bhajanka will retain his current ₹1.98 crore remuneration.
Why this matters
Leadership transitions, especially in established companies, can signal future strategic directions. This move is aimed at leveraging Tushar Bhajanka's capabilities for growth, while Prem Kumar Bhajanka will focus on advisory roles. Investors will be watching to see how this new leadership drives Star Cement's strategy, particularly its focus on capacity expansion and new projects.
The backstory
The company's financial performance shows a recovery in FY 2025-26 with revenues of ₹2,406.73 crore and Profit Before Tax (PBT) of ₹198.89 crore, a marked improvement from a PBT loss of ₹(84.77) crore in FY 2024-25. The company has identified six competitive strengths for future growth, including capacity expansion and new projects.
What changes now
Tushar Bhajanka will lead day-to-day operations as MD & CEO, while Prem Kumar Bhajanka will provide strategic oversight. The company is betting on its identified competitive strengths to drive future growth under this new leadership structure.
Risks to watch
Key risks include the outcome of the shareholder vote and the successful execution of the company's growth strategies, including capacity expansion and new projects, amidst a competitive market landscape.
Peer comparison
While not explicitly detailed in the filing, this type of leadership transition is common in the Indian cement sector, where family-led businesses often undergo succession planning to ensure continued growth and stability.
Context metrics (time-bound)
Star Cement reported revenues of ₹2,406.73 crore and PBT of ₹198.89 crore for FY 2025-26. This follows revenues of ₹2,006.21 crore and PBT of ₹(84.77) crore in FY 2024-25, and ₹2,933.38 crore in revenues with PBT of ₹338.94 crore in FY 2023-24.
What to track next
Investors should track the results of the postal ballot, the effective implementation of the new leadership roles, and the company's progress on its stated growth initiatives and financial performance in the coming quarters.