The Aditya Birla Group Cement Flagship Company announced an investment of Rs 5,477 crore towards 12.8 million tonnes per annum (MTPA) capacity expansion.
The board of Ultratech Cement has approved increasing capacity by 12.8 million tonnes per annum (MTPA) with a mix of brown field and green field expansion. The additional capacity will be created in the fast-growing markets of the East, Central and North regions of the country.
This expansion includes the existing approval for the cement plant at Pali in Rajasthan, in addition to the its 6.7 MTPA capacity expansion currently underway in Uttar Pradesh, Odisha, Bihar and West Bengal, which has picked up pace and is expected to get commissioned by FY22, in a phased manner.
The commercial production from the new capacities is expected to go on stream in a phased manner, by Q4 FY23. This capacity addition will not impact the ongoing deleveraging program which is on track to make Ultratech Cement debt free by the time the expansion program is completed. Upon completion of the latest round of expansion, the company's capacity will grow to 136.25 MTPA, reinforcing its position as the third largest cement company in the world, outside of China, the cement major said in a statement issued during market hours today, 3 December 2020.
Ultratech Cement's consolidated net profit surged 113.5% to Rs 1,235.11 crore on 7.6% rise in net sales to Rs 10,354.21 crore in Q2 September 2020 over Q2 September 2019.
Shares of Ultratech Cement fell 0.80% to Rs 4,892 on BSE.
UltraTech Cement manufactures a range of products that cater to construction needs from foundation to finish, including Ordinary Portland Cement (OPC), Portland Blast Furnace Slag Cement (PSC), Portland Pozzolana Cement (PPC), white cement including white cement-based products and ready-mix concrete.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)