Cement News tagged under: UltraTech Cement
What to make of Holcim's Indian exit?20 May 2022, Published under Cement NewsHolcim Group agreed to sell its Indian cement businesses this week for US$10.5bn in cash to the Adani Group. ICR reports on the deal and what this means for the Indian cement sector and Holcim going forward. The Adani Group is a coal, power, ports and renewable energy conglomerate that had only a small footprint (Adani Enterprises Ltd) in the cement sector before its interest in Holcim companies, ACC Ltd and Ambuja Cements. The latest acquisition will make Adani the second-largest player ... |
Dalmia Bharat joins the Holcim India race03 May 2022, Published under Cement NewsDalmia Bharat Ltd is reportedly planning to bid for Holcim’s India businesses. According to sources close to Dalmia, the company is in talks with banks to secure financing for the bid which would add almost 65Mta of capacity to Dalmia’s existing 35Mta. UltraTech Cement, part of the Aditya Birla Group, is also planning to join the race for the Holcim assets - ACC Ltd and Gujarat Ambuja Ltd – but is concerned that its current capacity of almost 120Mta may come up against resistance fro... |
UltraTechCement Ltd reports consolidated sales of INR155bn in 4QFY21-2202 May 2022, Published under Cement NewsUltraTech Cement Ltd has announced its financial results for the 4QFY21-22 and year ended 31 March 2022. The company reported consolidated net sales of INR155,570m (US$2035m) in the 4QFY21-22 versus 142,320m over the corresponding period of the previous year. Profit before interest, depreciation and tax in the 4QFY21-22 was INR31,650m compared to INR37,510m in the corresponding period of the previous year. Normalised profit after tax was INR14780m in the 4QFY21-22 compared t... |
Aditya Birla Group will consider buying Holcim's Indian assets26 April 2022, Published under Cement NewsKumar Mangalam Birla, chairperson of Aditya Birla, is reportedly looking at ways to make a bid for ACC Ltd and Ambuja Cements that Holcim intends to divest, according to The Economic Times. UltraTech Cement ( Aditya Birla Group ) may look to expand its leading position in the market as any producer that picks up the Holcim assets in India will automatically become a contender to UltraTech Cement , as Holcim is the second-largest player in the Indian cement sector. However, analysts bel... |
UltraTech acquires 29% stake in RAK White Cement19 April 2022, Published under Cement NewsUltraTech Cement Middle East Investments , part of UltraTech Cement in UAE, has invested US$101m to acquire a 29.39 per cent stake in RAK Cement Co for White Cement and Construction Materials PSC . RAK White Cement reported a turnover of INR4.825bn (US$63.2m) last year, up from INR4.46bn in 2020. The company is registered on the Abu Dhabi and Kuwait stock exchanges. |
UltraTech Cement preferred bidder for Karnataka limestone13 April 2022, Published under Cement NewsUltraTech Cement (owned by Aditya Birla Group ) has emerged as the preferred bidder in the e-auction for the Diggaon Limestock Block. "The company participated in the e-auction of Diggaon Limestone Block conducted by the Government of Karnataka and has been declared as the preferred bidder," the company said in a regulatory filing. The block is situated in Chittapur township in the Kalburgi district of Karnataka, India. It is adjacent to UltraTech Cement’s Rajashree cement plant. The bl... |
UltraTech Cement announces INR9.65bn capex for Birla White expansion25 January 2022, Published under Cement NewsUltraTech Cement has announced a capital expenditure (capex) plan of INR9.65bn to modernise and almost double the production capacity of its white cement brand Birla White. The Aditya Birla Group company plans to increase the capacity of Birla White from the current 650,000tpa to 1.253Mta, UltraTech Cement said in a post-earnings statement. The company's board at its meeting on Monday approved the capex plan towards modernisation and the expansion of capacity at Birla White in a ph... |
UltraTech Cement consolidated net sales reach INR127.1bn in 3QFY2218 January 2022, Published under Cement NewsUltraTech Cement reports that its consolidated net sales was INR127.1bn (US$1.71bn) in the 3QFY22 when compared with INR121.4bn over the corresponding period of the previous year. Profit after tax jumped eight per cent to INR17.08bn from INR15.84bn. There is a one-time gain of INR5350m in tax for earlier years. After gaining pace in October 2021, demand slowed substantially in November, 2021 as a result of the construction ban in the NCR, extended monsoons in the south and a few states... |
UltraTech Cement: growing a giant14 January 2022, Published under Cement NewsUltraTech Cement (Aditya Birla group) has been increasing its cement capacity this week with the opening of Line II at its Bara grinding unit in Uttar Pradesh, India. This has taken the group's cement capacity up to 114.55Mta, consolidating its position as one of the world's largest cement manufacturers outside of China. The company's rise has been truly outstanding since its establishment of the first plant for Grasim (Vikram Cement) and Indian Rayon (Rajashree Cement) in 1983-88. From a f... |
UltraTech Cement wins 12th Frost & Sullivan and TERI Sustainability 4.0 Award 202114 January 2022, Published under Cement NewsUltraTech Cement has been recognised with the Leaders Award in the Mega Large Business, Process Sector category, at the 12th Frost & Sullivan and TERI Sustainability 4.0 Awards 2021. The Sustainability 4.0 Awards recognise efforts of companies that incorporate sustainability principles into their business culture. UltraTech received the Leaders Award for its holistic approach to sustainability and its best-in-class sustainability practices, including i ts circular economy activitie... |