Cement News tagged under: UltraTech Cement

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India: UltraTech confirms US$2.4bn purchase of Jaypee assets

01 April 2016, Published under Cement News

UltraTech Cement has reached a definitive agreement in its deal to buy 21.2Mta of production capacity from Jaiprakash Associates (JAL) at a cost of INR159bn (US$2.4bn).  India's Telegraph newspaper reports that UltratTech will acquire existing plants with a capacity of 17.2Mta as well as a 4Mta grinding unit currently under construction.  Originally, the sale was to include Jaypee’s 1.2Mta Shahabad plant, but this will now be retained by JAL, which will still have 10.6Mta of production...

India: UltraTech purchase of 22.4Mta capacity set to be announced

31 March 2016, Published under Cement News

UltraTech Cement, already India's largest cement producer, is expected to confirm its purchase of Jaiprakash Associates' cement business. A report by CNBC-TV18 states that the deal will be officially announced on 31 March. UltraTech will acquire cement plants with a capacity of 22.4Mta for INR170bn (US$2.56bn). UltraTech has been seeking to purchase assets from Jaiprakash Associates for some time. In December 2015 a deal for the Bela and Sidhi plants was suspended because a new law pre...

UltraTech Cement signs binding MoU for Jaiprakash Associates cement units

29 February 2016, Published under Cement News

India's UltraTech Cement Ltd said on Sunday it had entered a binding memorandum of understanding to acquire Jaiprakash Associates Ltd's cement plants for INR165bn (US$2.457bn). The assets have a total cement capacity of 22.4Mta, including 4Mta under implementation, and are situated in the states of Madhya Pradesh, Uttar Pradesh, Himachal Pradesh, Uttarakhand, Andhra Pradesh and Karnataka. “The assets will give the company access to the newer markets of Satna, Uttar Pradesh East, Himachal P...

UltraTech 3Q revenues rise 5%

20 January 2016, Published under Cement News

Indian cement major UltraTech Cement reported five per cent revenue growth for the 3QFY15-16, driven by seven per cent volume growth while the cement pricing environment remained subdued.   During the September-December 2015 period, consolidated net sales increased to INR61.08bn (US$898m) versus INR58.32bn in the corresponding period of the previous year. EBIT stood at INR12.45bn, up by 18 per cent YoY from INR10.58bn. Profit after tax soared by 36 per cent compared to last year (INR5.46bn...

Kenya: UltraTech in the race to buy stake in ARM?

13 January 2016, Published under Cement News

UltraTech Cement is said to be eyeing a controlling stake in ARM Cement of Kenya, a Nairobi-based newspaper reported.
 According to the report, the Indian cement producer UltraTech Cement is in the race to acquire a controlling stake in Nairobi Securities Exchange-listed ARM Cement, in which it could buy convertible preference shares of up to US$125m (KES12.7bn). ARM announced 23 December it is in talks with an unidentified institutional investor about a US$125m investment.

UltraTech Chhattisgarh mine plan hits hurdle

24 December 2015, Published under Cement News

The government of the central Indian state of Chhattisgarh has cancelled a no objection certificate (NoC) to UltraTech Cement for a limestone mine in Raipur district. The state government on Tuesday announced it would cancel the certificate required by the cement producer to commission the operation. The mine is interlinked with the company’s integrated cement plant, located in the neighbouring Balodabazar district. The department had granted the conditional NoC on 5 January 2009. The 17...

UltraTech Cement 2Q net profit up

17 December 2015, Published under Cement News

UltraTech Cement Ltd has reported that net profit after taxes and minority interest for the second quarter ended 30 September 2015 was INR4.27bn (US$64m), or INR15.55 per diluted share, compared to INR4.14bn, or INR15.09 per diluted share, for the same quarter ended 30September 2014. Total income from operations for the second quarter was INR60.13bn, compared to INR57.7 bn for the same quarter ended 30 September 2014. Net profit after taxes and minority interest for the six months ende...

UltraTech Cement included on the Indian Climate Disclosure Leadership Index

05 November 2015, Published under Cement News

UltraTech Cement announced that it has been identified as an Indian leader for the quality of climate change-related information that it has disclosed to investors and the global marketplace through CDP India, a not-for-profit organisation that drives sustainable economies.  As a result, UltraTech Cement has been awarded a position on the Indian Climate Disclosure Leadership Index (CDLI), released this week in the India climate change report.  The Indian cement major said it has earned it...

UltraTech Cement second-quarter sales ahead

20 October 2015, Published under Cement News

Aditya Birla group company UltraTech Cement reported higher revenue and volume growth for the second quarter of FY16 as well as a better operational performance during the period. For the three months to the end of September 2015, standalone net sales edged ahead by 4.2 per cent to INR5621 crores compared to INR5379 crores a year earlier. Profit before interest, depreciation and tax rose 8.6 per cent to INR1033 crores. However, profit after tax fell 3.9 per cent to INR394 crore largely...

UltraTech commissions Haryana grinding plant, India

23 September 2015, Published under Cement News

UltraTech Cement has commissioned a 1.6Mta grinding unit at Jhajjhar in the northern Indian state of Haryana, lifting the company's total cement capacity to 63.1Mta. Clinker for the new grinding unit will be sourced from the company's Aditya Cement Works in neighbouring Rajasthan, where a new clinker line was also commissioned in March. With the additional grinding capacity, the company will be able to tap the northern region more effectively.