UltraTech Cement, the cement flagship of the Aditya Birla Group, has announced the completion of a significant capacity expansion, bringing its total cement production capacity to 156.06Mta. This addition forms part of the company's broader 22.6Mta capacity expansion plan, originally announced in June 2022.
With this development, UltraTech solidifies its position as the third-largest cement producer globally, excluding China, with a consolidated grey cement capacity of 154.86Mta. This expansion underlines UltraTech's strategic efforts to meet growing demand in the Indian cement sector and maintain its competitive edge in the global market.
In its financial performance for the 1QFY24-25, UltraTech reported a marginal increase in consolidated net profit to INR16.96bn, up from INR16.88bn in the 1QFY24-25. Revenue from operations also saw a modest 1.9 per cent YoY growth, reaching INR180.69bn for the quarter ending 30 June 2024.
Despite the capacity boost and stable financial performance, UltraTech's stock declined by 0.7 per cent on 17 October 2024, closing at INR11,324.40.
