Cement News tagged under: UltraTech Cement
UltraTech clinker grinding project to start in October03 May 2019, Published under Cement NewsUltraTech Cement is preparing to set up a 3Mta clinker grinding unit in Cuttack district, Odisha, India. The INR5.59bn project,which will be funded through a bank loan, will be located on a 36.4ha site. It is expected to provide employment to 120 people. The company has received environmental clearance for the project, which is expected to start by October 2019. |
UltraTech Cement records positive results for FY18-1925 April 2019, Published under Cement NewsIndia’s UltraTech Cement (Aditya Birla Group) has reported a 9.6 per cent YoY increase in consolidated profit after tax to INR24.35bn (US$347.6m) for the year ended 31 March 2019. Revenue for the fiscal rose 20.4 per cent to INR367.75bn from INR305.41bn. However, the company noted in an exchange filing that its results for the FY18-19 and final quarter are not comparable with previous periods due to the merger of Binani Cements into the company. In the 4QFY18-19 UltraTech Cement saw its co... |
Leading from the front18 March 2019, Published under Cement NewsFollowing last year’s IPCC report on climate change, there has never been a greater urgency to reduce greenhouse gas emissions across all sectors and geographies to limit global warming to 1.5˚C. Therefore, the built environment will need to fast-track to zero carbon. In India, the world’s second-biggest cement producer, three of the country’s major players – Dalmia Cement, Ambuja Cement and UltraTech Cement – are leading from the front. By Jennifer Gerholdt, We Mean Business. Improvi... |
UltraTech increases net profits to INR92.6m in 3QFY1925 January 2019, Published under Cement NewsUltraTech reported net sales of INR92,580m (US$1.299bn) in 3QFY19 up 19 per cent from INR77,790m in 3QFY19. Profits before interest, depreciation and tax was INR15,480m, up from INR14,940m in the corresponding period a year earlier. The company saw domestic sales volume rise by 15 per cent over 3QFY18, but higher fuel and energy costs, along with rupee depreciation resulted in costs increasing by 11 per cent on 3QFY18. UltraTech has fully integrated the 21.2Mta cement capacity acquired i... |
Binani Cement changes name following acquisition14 December 2018, Published under Cement NewsBinani Cement has announced that it will be changing its name to UltraTech Nathdwara Cement Ltd, following the company’s acquisition by UltraTech on 20 November. UltraTech Cement’s capacity in the northern region will be enhanced to 24Mta, with the producer expected to become one of the strongest in the market. |
Dalmia Bharat Group to challenge NCLAT ruling15 November 2018, Published under Cement NewsDalmia Cement (Bharat) Ltd has petitioned the Supreme Court, challenging the appellate tribunal's ruling to support UltraTech's plan for Binani Cement over the latter's acquisition by Dalmia Bharat Group. The matter is now due for a special hearing on Monday 19 November. The National Company Law Appellate Tribunal (NCLAT) ruled that approval had been given to UltraTech's acquisition of Binani for INR79,500m (US$1.1bn). Despite the legal challenge, Dalmia Cement (Bharat) is not about to mat... |
UltraTech's bid for Binani approved by NCLAT14 November 2018, Published under Cement NewsA bid submitted by India’s UltraTech Cement to acquire Binani Cement has received approval from the National Company Law Appellate Tribunal (NCLAT). A two-member bench of NCLAT, headed by Chairman Justice S J Mukhopadhaya, approved the company’s resolution plan and said that the plan submitted by Dalmia Bharat’s Rajputana Properties was “discriminatory” against some financial creditors, according to the Press Trust of India. |
Aditya Birla Group announces US$5bn capex plan29 October 2018, Published under Cement NewsIndia's Aditya Birla Group, parent of UltraTech Cement, has announced US$5bn capex plans over the next three years for its businesses both in the domestic market and abroad. "Our capex plans over the next three years is about US$5bn across our businesses both in the country as well as in the US. Aleris, which Novelis is acquiring, is also another aluminium rolled product player, will attract around US$3bn of this projected capex," said Kumar Mangalam Birla, group chairman, at The Economist... |
UltraTech reports 20% increase in net sales22 October 2018, Published under Cement NewsIndia’s UltraTech Cement has reported an 11 per cent YoY decline in its consolidated net profit for the 2QFY18-19 ended 30 September, falling to INR3.76bn (US$51.29m) from INR4.24bn. However, net sales during the quarter rose 20 per cent to INR81.11bn from INR67.52bn on the back of strong cement volume growth, which increased 21 per cent to 15.1Mt. "Domestic sales volumes jumped 21 per cent over 2QFY17-18. However, rising energy and logistics cost coupled with rupee depreciation resulted i... |
UltraTech joins EP100 energy-smart companies11 September 2018, Published under Cement NewsUltraTech Cement has joined the EP100, which is a global leadership initiative to bring energy-smart companies together. UltraTech believes that by joining the group it will double its energy productivity and reduce its carbon intensity. UltraTech aims to reduce its carbon emission by 25 per cent by 2021 from its 2005 baseline. Mr K K Maheshwari, managing director, UltraTech Cement Ltd said, "Our membership of EP100, we believe, will play a catalytic role in helping us accelerate towards do... |