Change in Binani brandname, quality upgrade spur UltraTech turnaround

The last part of the series on the Insolvency and Bankruptcy Code takes a look at how Ultratech's acquisition of Binani helped it become North India's biggest cement firm by capacity

The acquisition of Binani Cement by Aditya Birla group company UltraTech is touted to be one of the few success stories post the Insolvency and Bankruptcy Code (IBC) regime. 

The acquisition helped UltraTech become North India’s biggest cement company by capacity with a 26 per cent market share post-acquisition.

UltraTech expanded its cement capacity to 120 million tonnes by buying Century Textiles, Binani Cement and Jaiprakash (JP) Associates in the last two years. It plans to add another 34 million tonnes of capacity by March 2021.  

The acquisition of Binani Cement in 2018 was not easy for the Birla group, which had to