Cement News tagged under: UltraTech Cement

RSS feed

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...

UltraTech's bid for Binani approved by NCLAT

14 November 2018, Published under Cement News

A 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 plan

29 October 2018, Published under Cement News

India'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 sales

22 October 2018, Published under Cement News

India’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 companies

11 September 2018, Published under Cement News

UltraTech 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...

UltraTech plants win awards at National Awards for Excellence in Energy Management

07 September 2018, Published under Cement News

UltraTech has announced that five of its integrated cement manufacturing units have been recognised by the Confederation of Indian Industry (CII) at the 19th edition of the 'National Award for Excellence in Energy Management 2018'. Five manufacturing units of UltraTech Cement Ltd (UTCL) The awards included: 'Excellent Energy Efficient Unit' - Rawan Cement Works (RWCW) 'Best cement plant' and 'Captive power plant' – Chhattisgarh Cement plant  'Energy Efficient Units' – Kotputli...

UltraTech looks to increase presence in eastern India

06 September 2018, Published under Cement News

UltraTech Cement is looking to increase its market share in eastern India to 23 per cent, due to the considerable growth in the region. "There is an excess demand in the eastern region. The capacity in east is less than the total demand, including in Bengal. The rise in cement consumption in east is 15 per cent, while nationally it is 5-6 per cent," said Dev Banerjee, joint president of UltraTech. The company currently claims slightly over 20 per cent of the eastern market, led by its ma...

UltraTech receives approval to acquire cement business

22 August 2018, Published under Cement News

UltraTech has announced that it received approval from the Competition Commission of India (CCI) to acquire the cement business of Century Textiles and Industries. UltraTech is expected to acquire the cement business through a share swap deal to consolidate its position as a market leader. Century Textiles has three integrated facilities with a total capacity of 11.4Mta and a 2Mta grinding unit.

UltraTech to complete Century Textiles deal by February

23 July 2018, Published under Cement News

UltraTech will issue 14m new equity shares to the shareholders of Century Textiles and Industries, which will increase its equity capital to INR2.8bn (US$42m). The deal is expected to be completed before February 2019. The acquisition will make UltraTech (inluding its overseas operations) the world's third-largest cement maker outside of China. Khaitan & Co advised Aditya Birla Group's UltraTech on structuring its acquisition of the cement business of BK Birla group's Century T...

UltraTech's 2Q18 sales rise by 27%

19 July 2018, Published under Cement News

UltraTech Cement Ltd's unaudited financial results for the quarter ended 30 June 2018 reported net sales of INR88.4bn (US$1.28bn), up 27 per cent from INR69.3bn of the previous year. Profit before interest, depreciation and tax (EBITDA) was INR17630m when compared with INR17980m in the corresponding period of the previous year. Sales volume jumped 34 per cent over 1QFY18. The company achieved an operating EBITDA of INR929/t as compared to INR922/t in 4QFY18, despite the hike in fuel prices...