Cement News tagged under: UltraTech Cement
UltraTech to trial ZeroCal decarbonisation technology25 October 2024, Published under Cement NewsUltraTech Cement Ltd , India's largest cement and ready-mix concrete (RMC) company, announced the signing of a collaboration agreement with the Institute for Carbon Management (ICM) at the University of California, Los Angeles (UCLA) to pilot a groundbreaking new technology called The Zero Carbon Lime (ZeroCAL) developed by ICM. The technology is designed to significantly reduce carbon dioxide emissions from cement production. ICM, in partnership with UltraTech, will build a first-of-a-kind... |
UltraTech Cement reports a slight decrease in performance22 October 2024, Published under Cement NewsUltraTech Cement Ltd has released their quarterly performance for the 2QFY25. Consolidated net sales was at INR153.08bn (US$1.82bn) compared to INR157.35bn in the same period a year previous, reflecting a 2.7 per cent decrease. EBITDA was at INR22.39bn, a 17.6 per cent decrease YOY from INR27.18bn. Profit after tax also saw a decrease, falling 35.9 per cent YoY from INR12.81bn to INR8.20bn. With this report, UltraTech have also presented some of the highlights despite what they hav... |
UltraTech secures US$500m sustainably-linked financing for FY27 expansion goal27 August 2024, Published under Cement NewsUltraTech Cement , India's leading cement manufacturer, has unveiled an ambitious plan to expand its production capacity to over 200Mta by FY27. This strategic move is part of UltraTech's broader objective to maintain its leadership in the cement industry by meeting rising demand both domestically and internationally. Currently, the company operates at just over 130Mta but plans to significantly boost its production through the establishment of new greenfield facilities an... |
UltraTech chairman outlines company's growth15 August 2024, Published under Cement NewsUltraTech 's Chairman, Kumar Mangalam Birla, summarised the progress of the company and its plans for future growth and development, at the company's 24th AGM. In April 2024 UltraTech marked a historic milestone of 150Mta + production capacity. This capacity surpasses 150 per cent of the capacity in the USA and constitutes 80 per cent of Europe's capacity. “With the completion of the ongoing expansion projects across India by FY27, and receipt of statutory approvals for the rec... |
UltraTech receives 5-star ratings for 12 of its mines09 August 2024, Published under Cement NewsA total of 12 of UltraTech Cement Ltd’s limestone mines have been rated five-star for FY22-23 by Indian Bureau of Mines. The awards were given out on 7 August 2024 in New Delhi by the Union Minister of Coal and Mines, Shri G Kishan Reddy. At the programme marking the event, the minister congratulated UltraTech for its performance in all aspects of mining and contributing to India’s mining sector. The award ceremony was also graced by the Minister of State for Coal and Mines, Shri Satish Cha... |
UltraTech acquires additional stake in India Cements29 July 2024, Published under Cement NewsUltraTech Cement is acquiring a 32.72 per cent share in India Cements , marking an investment of INR39,540m (US$472.2m). According to The Hindu, the move enables Aditya Birla -owned UltraTech to expand its presence in the fast-growing southern India market, particularly Tamil Nadu. UltraTech has reportedly entered into a share purchase agreement for a 28.42 per cent stake from promoters – N Srinivasan, Chitra Srinivasan, Rupa Gurunath and S K Asokh Baalaje — and a 4.3 per cent share ... |
Road spending to boost Indian cement demand23 July 2024, Published under Cement NewsIndia’s cement companies are expected to benefit from a boost in road infrastructure spending. In her Budget 2024 speech, Nirmala Sitharaman, India’s Union Finance Minister announced an investment of INR260,000m (US$3106m) in highway development in Bihar. According to Mint, key projects includes the construction of a two-lane bridge over the Ganga and new highways such as the Patna-Purnea Expressway and Buxom-Bhagalpur Expressway. The news is expected to bring renewed cement demand, b... |
UltraTech sees sales increase in 1QFY24-2522 July 2024, Published under Cement NewsUltraTech Cement Ltd , part of Aditya Birla Group, has reported consolidated net sales of INR178,790m (US$2.14bn) in the first quarter of FY24-25 (ended 30 June 2024). This compares to INR175,190m in the same period a year earlier. Profit before interest, depreciation and tax fell from INR32,230m 1QFY24-25 to INR32,050m in the same period a year later, while profit after tax advanced slightly from INR16,880m to INR16,970m. According to the company, the quarter under review saw a six per... |
Adani Group targets Jaypee Group's cement assets18 July 2024, Published under Cement NewsAs lenders have initiated insolvency and bankruptcy proceedings against Jaiprakash Associates Ltd, the Adani Group is looking to acquire the Jaypee Group ’s cement assets, which boast over 9Mta capacity, according to a report by Moneycontrol. Jaiprakash Associates has been selling its cement plants to reduce debt, with a significant portion of its cement business previously acquired by UltraTech in 2016 for over INR160,000m (US$1.9bn), adding 22.4Mta capacity to UltraTech’s... |
Boiler explosion kills two and injures 14 at UltraTech plant09 July 2024, Published under Cement NewsA boiler explosion at the UltraTech Cement factory in the Jaggaihpet region of India has reportedly killed two workers and injured 14 others. Of the injured, Avula Venkatesh and Paritala Arjun died while being treated, and a further three workers are said to be in critical condition according to NTR District Collector, Gummalla Srijana. The Jaggaiahpet police have announced that the explosion may have occurred due to a suspected gas leak in the boiler unit, following a p... |