Cement News tagged under: UltraTech Cement
India moves towards ending coal monopoly21 October 2014, Published under Cement NewsThe Indian government has taken a cautious step towards ending the coal monopoly as its plans to allow private players to mine and sell coal, a move that is expected to benefit cement companies amongst others. The cabinet has approved auction of 74 of the recently-cancelled 204 coal blocks in the next 3-4 months. While state-owned companies will be allocated coal blocks on a priority basis and will not have to bid in the auction, private companies will be able for the first time to buy bl... |
UltraTech sees 47% rise in net profit20 October 2014, Published under Cement NewsUltraTech Cement reported a 47 per cent YoY increase in its consolidated net profit to INR4.16bn (US$67.9m) for July-September, driven by a strong volume growth of 11 per cent and additional volumes from Jaypee’s cement units acquired last year. In July-September 2013, the company’s net profits reached INR2.83bn. Revenues for the period rose from INR48.49bn in 2013 to INR57.72bn in 2014. On a stand-alone basis, the Mumbai-based cement producer posted a net profit of INR4.1bn for the quart... |
UltraTech to bid for Lafarge Holcim assets?15 October 2014, Published under Cement NewsUltraTech Cement is reportedly eyeing cement assets being put on the block by Holcim and Lafarge ahead of their planned merge Local press have speculated that the Aditya Birla group company is more interested in Holcim and Lafarge's assets in emerging countries, particularly in Latin America. Chairman Kumar Mangalam Birla is leading the bid preparations, a source familiar with the deal told The Times of India. |
UltraTech Cement appoints two additional independent directors14 October 2014, Published under Cement NewsUltraTech Cement Ltd, India's largest cement producer, on Monday said it has appointed Renuka Ramnath and Sukanya Kripalu as additional independent directors on its board. The appointments are effective as of 11 October 2014, the Adity Birla Group company said in a filing to the exchanges. Ramnath is the founder of Mutliples, a US$400m private equity fund, and is a former managing director and chief executive officer of ICICI Venture. Kripalu is director at Sukanya Consulting and was the ... |
UltraTech reportedly eyeing further Jaypee units08 October 2014, Published under Cement NewsUltraTech Cement is believed to be looking at possible acquisition of Jaypee Group's three cement plants in Madhya Pradesh, according to local press reports. While investment banking sources involved in the talks said that the discussions are currently underway for a possible deal, a spokesperson for UltraTech declined to comment. In the June quarter, UltraTech completed the acquisition of Jaypee Cement Corp’s units in Gujarat, comprising an integrated unit at Sewagram and a grinding un... |
UltraTech Cement given go-ahead for two new plants29 September 2014, Published under Cement NewsUltraTech Cement Ltd’s (Aditya Birla Group) proposal to set up two greenfield cement plants with an installed capacity of 9.5Mta has been cleared by Andhra Pradesh government. These two plants of a similar size have been proposed to be set up at Dachepalli of Guntur district and at Pentikota of Kurnool district by the company. The company, which has a total installed capacity of 62Mta across about 21 plants in India, currently operates a 4.9Mta capacity plant at Tadipatri in Anantapu... |
UltraTech welcomes Gujarat dealers to its fold, India04 September 2014, Published under Cement NewsIndia’s largest cement producer, UltraTech Cement, has added to its dealer network following the acquisition of Jaypee's cement assets in the western state of Gujarat. Dealers in Gujarat, who were earlier part of Jaypee Cement’s network, now come under the UltraTech Cement fold, further strengthening the company’s customer reach, reducing lead times and enabling more efficient distribution. UltraTech is currently supplying various infrastructure builds in Gujarat including projects in t... |
UltraTech full-year hit by operational costs21 July 2014, Published under Cement NewsUltraTech Cement, an Aditya Birla Group company, today announced its financial results for the year ended 31 March 2014. Full-year net sales stood at INR58.32bn compared to INR53.91bn in the corresponding period of the previous year. Profit before interest, depreciation and tax was INR13.29bn compared to INR13.83bn. Profit after tax was INR8.38bn against INR7.26bn in FY13. Combined cement and clinker sales were up nine per cent YoY to 12.18Mt (previous year: 11.13Mt). "The year witne... |
India: UltraTech completes deal to buy Jaypee Cement13 June 2014, Published under Cement NewsJaypee Cement Corporation unit in Gujarat, India, will come into UltraTech Cement's possession following approval for the acquisition from the Bombay and Ahmedabad High Courts. The deal includes the 4.8Mta cement plant with a 57.5MW coal-based thermal power plant, limestone reserves for over 90 years and a captive jetty at Sewagram for an enterprise value of INR38000m (US$637.8m). The company has already received the approval of capital market regulator SEBI, shareholders and creditors. As... |
UltraTech in talks to buy further Jaiprakash assets11 June 2014, Published under Cement NewsUltraTech Cement is reportedly in talks to buy further cement assets from Jaiprakash Associates, two sources with knowledge of the matter have told local press. The talks are centred on UltraTech acquiring Jaiprakash’s Rewa complex in Madhya Pradesh, to help the latter company reduce its debt burden. Last year, UltraTech agreed to buy Jaiprakash’s cement assets in Gujarat which have a cement capacity of 4.8Mt. |