Displaying items by tag: UltraTech Cement

India: Aditya Birla plans to expand its production capacity by 28% from 156Mt/yr to 200Mt/yr before 2035. Group chair Kumar Mangalam Birla told the Hindustan Times Leadership Summit in New Delhi that scale is key to long-term survival, and that he always aims for his group to be a leader in any given industry in which it operates.

Domain-B News has reported that Birla said "It took the group 36 years to build a 100Mt/yr cement capacity, while it added another 50Mt/yr capacity in five years.”

India: UltraTech Cement has entered a new transport service contract to deploy about 100 electric vehicles for the transportation of 75,000t/month of clinker from its cement plant Dhar Cement Works in Madhya Pradesh to its grinding unit Dhule Cement Works in Maharashtra, 200km away. This expansion aims to reduce CO₂ emissions by 17,000t/yr. The initiative follows a successful pilot launched in January 2024, in which the company deployed five electric trucks for the transport of clinker on this route, as well as the deployment of charging infrastructure and training. UltraTech is evaluating additional routes for further electric truck deployment and plans to conduct another pilot with a similar model. The company aims to increase its electric truck fleet to 500 by June 2025 as part of India's eFAST initiative.

India: UltraTech Cement announced plans to make a private placement of non-convertible debentures (NCDs) on 12 November 2024. MarketLine News has reported that the value of the proposed placement as US$356m.

India: The India Cements’ revenue fell by 24% year-on-year to US$244m in the six months to 30 September 2024 from US$320m in the same period in 2023. Its reported loss grew to US$33.3m from US$19.8m. Sales volumes declined by 15% to 4.26Mt from 5.04Mt. The company’s performance was negatively affected by weak cement demand and a significant decline in prices, according to the Hindu newspaper. It also said that is was unable to benefit from lower fuel costs, particularly petcoke, as lower sales volumes reduced its margins. The cement producer was purchased by UltraTech Cement in July 2024.

India: UltraTech Cement has entered a collaboration agreement with the Institute for Carbon Management (ICM) at the University of California (UCLA) to develop new technology that aims to reduce carbon dioxide emissions from cement production. The partnership will see the construction of a demonstration plant at one of UltraTech's integrated cement plants. Further details on the technology are available in Global Cement’s news story from 15 October 2024.

India: UltraTech Cement has published its financial results for the second quarter ending 30 September 2024. For the second quarter, the company reported sales of US$1.86bn, down by 2.1% from US$1.90bn in the same period of 2023. Revenue for the second quarter of 2024 was US$1.89bn, marking a year-on-year decrease of 2% from US$1.92bn in 2023. Net income fell to US$97.5m, down by 36% from US$152m in 2023, with net profit after tax dropping to US$202m, a 52% decrease from US$240m recorded in the preceding June quarter. Earnings before interest, taxation, depreciation and amortisation (EBITDA) for the September 2024 quarter stood at US$239.94m, a decrease of 18% year-on-year.

India: UltraTech Cement has commissioned an additional 1.2Mt/yr of grinding capacity at its Arakkonam unit in Tamil Nadu. This expansion is part of a broader 22.6Mt/yr capacity increase announced back in June 2022. With this latest addition, UltraTech Cement's total cement capacity now stands at 156Mt/yr.

India: UltraTech Cement will procure an additional 7MW of wind-solar hybrid power production capacity from Continuum MP Windfarm, increasing total procurement from 14MW to 21MW. This power is supplied from its 100MW project in Ratlam District in Madhya Pradesh. To facilitate this, UltraTech has raised its shareholding in Continuum MP Windfarm from 3.28% to 5.46% by investing approximately US$2.9m. The acquisition is expected to complete within 120 days following amendments to the power purchase Agreement, share purchase agreement, and shareholders agreement.

India: Indian cement manufacturers plan to invest approximately US$14.3bn over the next four years to increase capacity by 25%, adding 160-170Mt/yr of cement production, reports the Times of Oman newspaper. This expansion is reportedly driven by rising domestic demand and a significant infrastructure push by the government, with plans to invest US$1.7tn in infrastructure projects by 2030. The industry aims to fund this growth primarily through internal accruals, reducing reliance on debt. The top three producers —Ultratech, Ambuja, and Shree Cement — will reportedly contribute over 70% of the total capacity increase.

India: UltraTech Cement has obtained a $500m sustainability-linked loan from Sumitomo Mitsui Banking Corporation, State Bank of India, BNP Paribas and other lenders. Capital Market News has reported that the conditions for the loan align with UltraTech's 2050 Net-Zero Roadmap. Under the roadmap, the subsidiary of Aditya Birla Group aims to reduce its Scope 1 CO₂ emissions per tonne of cementitious material by 27% between 2017 and 2032, and to raise its reliance on renewables to 85% of its energy consumption by 2030.

UltraTech Cement previously issued sustainability-linked bonds in 2021.