Cement News tagged under: UltraTech Cement

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UltraTech Cement

02 August 2016, Published under Cement News

UltraTech has at last agreed terms with Jaypee Group for the acquisition of Jaypee’s cement interests. UltraTech is paying some US$2400m for the acquisition of 17.2Mta of cement capacity across five states as well as a 4Mta grinding plant currently under construction in Uttar Pradesh. The deal still requires the approval of shareholders, creditors hand the High Court and should be completed within 12 months. UltraTech has recently commissioned a new grinding centre at Pataliputra in Bihar...

India: UltraTech purchases more coal linkages

27 July 2016, Published under Cement News

UltraTech Cement has won an auction for 95,000t of coal from  Junadhi Mines in Chhattisgarh. The rights to use the coal are being sold off as part of a wider exercise within the Indian coal industry.  UltraTech will pay INR1050/t (US$15.60/t) for the coal. 

UltraTech Cement

22 July 2016, Published under Cement News

UltraTech has reported a 29 per cent increase in profit after tax for the quarter ending 30 June 2016. On a consolidated basis, profit came in at INR7.8bn, up from INR6.04bn in the same period last year. Net sales over the period advanced by four per cent while EBITDA improved by 25 per cent from INR13.02bn to INR16.26bn. According to the company, the quarter saw improvements in operating costs due to “operational efficiencies and a judicious power and fuel mix”. UltraTech says that it ex...

India: UltraTech to complete Jaypee acquisition ‘in next 12 months’

20 July 2016, Published under Cement News

Birla Group chairman, Kumar Mangalam Birla, told his firm's annual general meeting that its UltraTech Cement subsidiary should complete its acquisition of Jaypee Cement within the next 12 months, the Economic Times reports. The deal, which will see UltraTech acquire cement production capacity of 21.2Mta, was agreed earlier this month, despite efforts from Jaypee’s creditors that saw them convert debt into equity. On completion, UltraTech – already India’s largest producer – will contro...

India: UltraTech concludes Jaypee deal

05 July 2016, Published under Cement News

UltraTech Cement has struck a deal to obtain the cement assets of Jaypee Group with a last-minute increase in acquisition price on Monday. UltraTech will purchase Jaypee Group’s cement operations, that have a total capacity of 17.2Mta spread across Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh, for INR161.9bn (US$2.4bn). In addition to existing cement operations, UltraTech will also acquire the 4Mta grinding unit that is currently being constructed in Utt...

India: Jaypee Group debts threaten cement unit sale

04 July 2016, Published under Cement News

Creditors of Indian conglomerate Jaypee Group have invoked debt restructuring provisions that allow them to convert loans into equity, turning them into the firm’s majority shareholders, reports the Economic Times. Jaypee Group is struggling under debts of INR582.5bn (US$8.7bn) and had agreed to sell its cement unit to UltraTech Cement to raise capital. Following the move by banks, UltraTech is understood to have written to the Gaur family – who founded and still run Jaypee – questioning ...

India: UltraTech commissions Pataliputra plant

06 June 2016, Published under Cement News

UltraTech Cement has commissioned its 15th cement grinding unit at Pataliputra cement works, Maksudpur Pargana, dist. Patna, Bihar in 1Q16. The unit will cater to the markets of Eastern India. After commissioning of this unit, the company’s cement capacity stands at 69.3Mta, including the overseas operations. The completion of this project and others during the year ended March 2016 has seen the company adding 6.1Mta through greenfield expansions. Meanwhile, UltraTech Cement is plannin...

India: UltraTech’s profits rise to US$109m for 1Q16

29 April 2016, Published under Cement News

UltraTech Cement’s quarterly earnings statement for 1Q2016 show consolidated net profit growth of 10 per cent reaching INR7.23bn (US$109m) for the year to March, according to a report in Mint. Capacity utilisation was also higher in 1Q2016, rising by five per cent to 84 per cent. Volume sales rose by 15 per cent YoY, but revenues increased more slowly – by five per cent – due to declining prices. UltraTech’s EBITDA grew by just three per cent YoY despite improvements in cost efficiencies....

India: government approval for new UltraTech plants at Nawalgarh and Jaitaran

28 April 2016, Published under Cement News

The Jaipur government cleared the construction of a new 3.3Mta cement unit at Nawalgarh (Jhunjhnu) by UltraTech Cement Ltd. "Investment of worth INR3000 crore [INR30bn/US$451m] will be made and around 1000 people will get direct and indirect employment in this project. It will also set up new cement unit of 2.2Mta capacity and captive power plant at Jaitaran (Pali). The company will invest INR2100 crore and around 750 people to get direct and indirect employment," said the minister.

New projects push Indonesia towards overcapacity

27 April 2016, Published under Cement News

Indonesia's dynamic market has attracted both foreign and local cement companies to invest in new cement plants, intensifying competition for existing producers and tipping the industry towards oversupply. Four new entrants - including companies from Taiwan, India and two local firms - plan to build new factories in Indonesia with a combined capacity of 12.1Mta, according to a report in the Jakarta Globe. The total investment is estimated at between US$1.3bn and US$3bn over the next few ye...