Cement News tagged under: UltraTech Cement

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UltraTech Cement appoints Sujeet Jain as chief legal officer

18 June 2019, Published under Cement News

Sujeet Jain, group general counsel and company secretary of Viacom18, has joined UltraTech Cement as chief legal officer in Mumbai. A graduate of GLC Mumbai, he began his career at Thakkar and Thakkar Advocates before moving to Hutchison Telecom. In 2005 he joined People Group and three years later, Viacom 2008.

UltraTech Cement receives approval for 6Mta plant project

11 June 2019, Published under Cement News

India’s UltraTech Cement has received environmental approval to set up a INR25bn (US$360.37m) project in Petnikota village, Andhra Pradesh. The integrated facility is expected to have a clinker capacity of 4Mta and 6Mta of cement. Alongside the cement works, the company also plans to install a 60MW captive power plant and 15MW waste heat recovery unit. It has already acquired 431.92ha of land but still requires ‘consent to establish and operate’ from the state’s pollution control board, ac...

UltraTech Cement disposes of 5000t of waste from railway workshop

29 May 2019, Published under Cement News

India’s UltraTech Cement has safely disposed of 5000t of non-hazardous waste from Golden Rock railway workshop in Tiruchi, Tamil Nadu. Phase I of the project, which began in January 2017, has now been completed, with the material used as alternative fuel at UltraTech’s Ariyalur facility. Phase II will see the railway workshop dispose of another 5000t to other cement producers in Ariyalur. The waste materials include cushions, rubber belts and berth covers.

India’s return to stability

22 May 2019, Published under Cement News

While India’s cement consumption saw a strong double-digit advance in 2018, such rates are unlikely to be sustainable and expectations are that consumption growth will moderate to more stable levels in 2019. Gradual improvements in capacity utilisation rates and input costs are also on the cards, while the outlook for prices still remains unclear despite an upswing in some regions at the start of this year. The Indian market is expected to moderate to more stable levels of growth in 2...

UltraTech clinker grinding project to start in October

03 May 2019, Published under Cement News

UltraTech 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 FY18-19

25 April 2019, Published under Cement News

India’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 front

18 March 2019, Published under Cement News

Following 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 3QFY19

25 January 2019, Published under Cement News

UltraTech 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 acquisition

14 December 2018, Published under Cement News

Binani 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 ruling

15 November 2018, Published under Cement News

Dalmia 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...