Cement News tagged under: UltraTech Cement

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UltraTech reportedly nearing deal to buy Bhilai grinding plant, India

27 August 2015, Published under Cement News

UltraTech Cement is rumoured to be in advanced talks to buy Jaiprakash's 2.2Mta grinding plant in Bhilai, Chhattisgarh state, according to local press.  Citing sources familiar with the matter, the reports state that the two companies are waiting for approval from state-run steelmaker Steel Authority of India Ltd (SAIL), which owns 26 per cent of the plant, before finalising the deal. In December, UltraTech agreed to acquire the Madhya Pradesh assets of Jaiprakash Associates Ltd, which ...

UltraTech Cement

24 August 2015, Published under Cement News

India and the UAE have announced plans to create a multi-billion dollar fund to invest in India’s infrastructure sector. The fund, which plans to raise up to US$75bn, will be focused on next generation projects including railways, ports, roads, airports, industrial corridors and parks. Although no time frame has been given, or details on how the fund will be financed or structured, UltraTech Cement will be among the cement companies hoping the new fund will bring with it an increase in cem...

UltraTech Cement seeks shareholders approval for NCD issue, India

03 August 2015, Published under Cement News

The board of UltraTech Cement Ltd has sought shareholder approval to raise up to INR90bn rupees via issue of non-convertible debentures (NCD) on a private placement basis, the company said in a release to the exchanges today. The proceeds from the NCD issue will be used to finance ongoing capital expenditure, repay existing loans or for general corporate purposes.

India: UltraTech-Century merger talk heightens

28 July 2015, Published under Cement News

UltraTech Cement Ltd and Century Textiles & Industries Ltd are in talks with their respective dealers to synchronise their cement distribution network, trade sources told Cogencis.     UltraTech and Century Textiles dealers have been told that a combined sales approach could be in place by October. The move has led to resurfacing of talk that Century Textiles' cement division will be merged with UltraTech.     The Aditya Birla group-owned UltraTech Cement and the BK Birla-owned Century Tex...

UltraTech first quarter profit falls 5.5%

21 July 2015, Published under Cement News

UltraTech Cement's first quarter standalone net profit fell 5.5 per cent YoY to INR591 crore. The Aditya Birla Group firm had posted net profit of INR628 crore in the year-ago period. Cement and clinker sales during the quarter ended 30 June 2015 climbed six per cent to 12.14Mt from 11.7Mt a year earlier. Energy costs improved by seven per cent but the reduction in fuel prices was partly offset by an increase in rail freight expenses. Input prices remained stable except for the rise i...

UltraTech Cement non-executive director resigns

06 July 2015, Published under Cement News

UltraTech Cement Ltd has informed the Bombay Stock Exchange that Adesh Gupta, non-executive director has resigned from the Board of the Company with effect from 30 June 2015.

Jaiprakash gets shareholder go-ahead to sell to units to UltraTech

19 May 2015, Published under Cement News

Jaiprakash Associates Ltd has received shareholder approval to sell two cement units in Madhya Pradesh to UltraTech Cement Ltd, the company said in a notice to the stock exchanges. In December, Jaiprakash Associates signed a deal with UltraTech Cement to sell its cement units in the central Indian state for INR54bn. The board of directors of UltraTech Cement and the Competition Commission of India have also approved the deal.

UltraTech full-year net profit down 6% YoY

27 April 2015, Published under Cement News

India’s largest cement manufacturer UltraTech Cement reported a six per cent drop in its net profit for the year ended 31 March 2015 to INR20.15bn versus INR21.44bn in the previous year. Net sales were 13 per cent at INR22,656 crore against INR20,078 crore in the previous year. The Aditya Birla group firm noted that although there was some relief from softening coal prices, the cost of limestone and other input materials continued to remain high, putting pressure on margins. “The company...

Jaiprakash Associates to seek shareholders' approval for divestments to UltraTech

24 April 2015, Published under Cement News

Jaiprakash Associates Ltd will next month seek approval from its shareholders and creditors for the proposed sale of its cement units to UltraTech Cement. "Pursuant to an order dated March 25, 2015...the High Court of Judicature at Allahabad has directed meetings of the equity shareholders and creditors of Jaiprakash Associates to be convened on May 16...for considering the scheme of arrangement between Jaiprakash Associates and Ultratech Cement Ltd," Jaiprakash Associates said in a...

Century Textiles to reportedly spin off cement unit

22 April 2015, Published under Cement News

Century Textiles, owned by Birla patriarch Basant Kumar Birla, will spin off its cement business and merge it in an all-share deal with UltraTech Cement, owned by grandson Kumar Mangalam Birla, two people with direct knowledge of the plan have told the Economic Times of India. "Both companies are in the final stages of a plan to merge the cement businesses," one of the two persons said. "The enterprise value of Century's cement business has been put at INR10,500 crore, and an announcement c...