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News Aditya Birla

Displaying items by tag: Aditya Birla

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UltraTech Cement commissions Hirmi cement plant’s Clinker Line 2

17 May 2022

India: UltraTech Cement has successfully commissioned a second clinker line with a capacity of 2.7Mt/yr at its Hirmi cement plant in Chhattisgarh. The company says that it is on track to also commission a new 1.3Mt/yr grinding unit at the plant in mid-2022.

Published in Global Cement News
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UltraTech Cement increases sales and profit in 2022 financial year

03 May 2022

India: UltraTech Cement recorded consolidated sales of US$6.86bn in its 2022 financial year, up by 18% year-on-year from US$5.83bn. The Aditya Birla subsidiary's net profit was US$957m, up by 34% from US$713m. Its total expenses also increased, by 20% to US$5.61bn from US$4.69bn. The sharpest rise, of 45%, was in power and fuel expenses, to US$1.43bn from US$985m.

Published in Global Cement News
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Holcim receives bids for Ambuja Cements

03 May 2022

India: Adani Group and JSW Group have submitted their non-binding bids to Holcim for acquisition of its subsidiary Ambuja Cements. The Business Standard newspaper has reported that Aditya Birla subsidiary UlraTech is also preparing a bid. A deal with UltraTech Cement would delay closure due to the Competition Commission of India approval process it entails. Holcim previously indicated that it would like to conclude the deal early.

Adani Group would finance any acquisition with a combination of its own cash and that from Gulf-based sovereign funds, while JSW Group would engage private equity.

Published in Global Cement News
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UltraTech Cement to expand Birla White cement production capacity

18 January 2022

India: UltraTech Cement plans to invest US$129m in capacity expansion projects in order to increase the production capacity of its Birla White brand white cement by 93% to 12.5Mt/yr from 6.5Mt/yr. The Aditya Birla subsidiary says that it will commission the new capacity in a phased manner. The investment aims to strengthen Birla White cement’s presence in the growing white cement market and to reduce its dependence on high-cost imports.

Published in Global Cement News
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UltraTech Cement reports third-quarter sales and profit rise in 2022 financial year

18 January 2022

India: UltraTech Cement recorded consolidated sales of US$1.74bn in the third quarter of the 2022 financial year, up by 5.8% year-on-year. Its net profit in the quarter was US$229bn.

The Business Standard newspaper reported that the producer maintained a strong cement volumes growth trajectory, with 13% year-on-year cement sales growth throughout the first nine months of the 2022 financial year.

Published in Global Cement News
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UltraTech Cement wins Indian Circular Economy Award 2021

26 November 2021

India: The Federation of Indian Chambers of Commerce and Industry (FICCI) has awarded UltraTech Cement its Indian Circular Economy Award 2021 in the large enterprise category. The federation said that the award recognises UltraTech Cement's efforts to accelerate the development of a circular economic business model and celebrates its new impactful and innovative practices in 2021.

Published in Global Cement News
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UltraTech Cement to commission 1.2Mt/yr-worth of new cement capacity in Eastern India in October 2021

14 October 2021

India: UltraTech Cement says that it will commission a total of 1.2Mt/yr-worth of additional cement capacity in Eastern India throughout October 2021. The company invested US$53.1m in the new infrastructure.

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UltraTech Cement commits to 100% renewable energy by 2050

24 September 2021

India: UltraTech has made a commitment to transition to 100% renewable energy use by 2050. The Aditya Birla subsidiary has joined the global RE100 group of companies committed to energy decarbonisation. Asian News International has reported that the producer is already targeting 34% renewable energy use by 2024 from 13% in 2020. It more than doubled its consumption of renewable energy between 2018 and 2020. UltraTech Cement is additionally targeting a CO2 emissions reduction to 462kg/t of cement. It is the first Indian producer to instigate sustainability target-linked financial commitments.

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Hari Krishna Agarwal appointed as managing director of Grasim Industries

08 September 2021

India: Grasim Industries has appointed Hari Krishna Agarwal as its managing director. He will take up the post for a period of two years from 1 December 2021. The appointment is subject to shareholder approval. It follows the early retirement of Dilip Gaur from the subsidiary of Aditya Birla Group.

Agarwal, aged 62 years, has worked for Aditya Birla Group for nearly 40 years. During this period, he has held different roles in cement, chemicals and pulp and fibre businesses before taking on his current role as Business Head for Pulp & Fibre. He is a chartered accountant and an Executive Master of Business Administration (MBA) from the Sasin School of Management at Chulalongkorn University in Bangkok, Thailand.

Published in People
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Grasim Industries raises US$136m through non-convertible debentures

06 April 2021

India: Aditya Birla subsidiary Grasim Industries has raised US$136m through fully paid unsecured non-convertible debentures (NCDs). The company has allotted the NCDs on a private placement basis.

Published in Global Cement News
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