Displaying items by tag: Aditya Birla
UltraTech Cement commissions expanded Kotputli cement plant
23 February 2024India: UltraTech Cement has commissioned 1.8Mt/yr of new cement capacity at its Kotputli cement plant in Rajasthan. The expanded plant will help the producer to serve markets in Rajasthan and the National Capital Region. Projects Today News has reported that the expansion is part of a 22.6Mt/yr capacity growth drive, first announced in June 2022. The latest commissioning has raised UltraTech Cement’s all-India capacity by 1.3% to 137Mt/yr, and that in Rajasthan by 11% to 18.9Mt/yr.
Grasim Industries’ cement sales growth contributes to rise in earnings in third quarter of 2024 financial year
09 February 2024India: In the third quarter of the 2024 financial year (1 October – 31 December 2023), Grasim Industries’ earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 34% to US$620m. The Hindu Business Line newspaper has reported that the company partly attributed this to an increased sales contribution from its cement subsidiary UltraTech Cement. Nonetheless, Grasim Industries’ net profit dropped by 42% year-on-year in the quarter, to US$313m.
UltraTech Cement commissions Rajpura grinding plant
29 January 2024India: Aditya Birla subsidiary UltraTech Cement has commissioned its new 2.6Mt/yr Rajpura grinding plant in Punjab. The producer says that it made the investment in order to enhance its service to markets in Punjab.
The Rajpura grinding plant raises UltraTech Cement's installed grey cement capacity in India by 2% to 135.59Mt/yr.
UltraTech Cement raises third-quarter sales
19 January 2024India: Aditya Birla subsidiary UltraTech Cement recorded third-quarter sales of US$2.17bn in the 2024 financial year, up by 7.9% year-on-year. The producer’s profit in the quarter was US$230m, up by 68% year-on-year.
India: Shah Rukh Khan (SRK) has become the latest Bollywood superstar to help advertise cement in India. Khan appears in UltraTech Cement’s Build and It Will Grow (Banega Toh Badhega) advertising campaign, launched on 15 January 2023. The opening advert shows the Aśoka star among workers, school pupils and the Indian Army carrying out different activities facilitated by infrastructure.
UltraTech Cement said “SRK is a shining example of the rise and aspirations of India. His personal journey is one of resetting boundaries and aiming high. We thus believe that he is aptly suited to represent UltraTech’s credo.”
UltraTech Cement to acquire 26% stake in Amplus Ages
12 January 2024India: UltraTech Cement has concluded a deal to acquire a 26% stake in renewable energy provider Amplus Ages. ET Infra News has reported the value of the deal as US$5.91m. The parties expect the deal to complete within 180 days of its execution.
The cement producer, a subsidiary of Aditya Birla, said "The acquisition is for the purposes of meeting the company's green energy needs, optimising energy costs and complying with regulatory requirements for captive power consumption."
India: UltraTech Cement has deployed five electric clinker trucks at its Dhar cement plant in Madhya Pradesh. Asian News International has reported that the trucks will convey clinker to the producer’s Dhule grinding plant in Maharashtra. The company expects the trucks to reduce its CO2 emissions by 680t/yr.
UltraTech Cement is committed to electrifying 500 vehicles across its operations by the end of June 2025.
India: UltraTech Cement sold 27.3Mt of cement during the third quarter of the 2024 financial year, up by 6% year-on-year from third-quarter levels in the previous financial year. 26.1Mt (95%) of sales were in India, representing a 5% year-on-year rise in UltraTech Cement’s domestic sales. Throughout the quarter, the company produced 25.4Mt of grey cement and 480,000t of white cement, Press Trust of India News has reported.
UltraTech Cement’s 23 cement plants, one clinker plant and 29 grinding plants commanded an installed capacity of 138Mt/yr on 1 January 2024.
UltraTech Cement to invest US$120m in Bihar
14 December 2023India: UltraTech Cement has signed a memorandum of understanding (MoU) with the government of Bihar for the investment of US$120m in the state.
Press Trust of India News has reported that the Bihar government has asked the government of India to grant the state special status in order to advance its industrial development.
Kesoram Cement acquisition to give UltraTech Cement 21% market share in Southern India
04 December 2023India: UltraTech Cement’s acquisition of Kesoram Cement will raise its share of capacity in the Southern Indian cement market to 21% from 11%, according to BusinessLine Online News. Market researcher Emkay Global said that it expects the acquisition and UltraTech Cement’s current expansion plans to raise the group’s total share of cement capacity in Southern India and Western India by 7 – 8%.