Page 3 - Aditya Birla Group

ABFRL board approves raising $500 mn through preferential issuance and QIP

Fundraise will deleverage company and help in its growth strategy, says fashion retailer

Production from Meenakshi coal mine likely to begin in 2028, says Hindalco

Hindalco Industries Ltd, the Aditya Birla Group's metals flagship, on Monday said it expects to begin production at the Meenakshi coal mine in Odisha in 2028. The coal mine is a fully explored block with a peak rated capacity of 12 million tonnes per annum and 285.23 million tonnes of geological reserves. With a favourable coal-to-waste stripping ratio of less than one, the G12 grade mine is poised to be a cost-effective and sustainable energy source for the company's operations, making it self-reliant in coal production, Hindalco Industries said in a regulatory filing. The mined coal will replace the company's dependence on auction and linkage coal which is currently estimated at approximately 40 per cent higher than the Meenakshi coal mine, thereby ensuring a stable supply for its smelters and solidifying its position as one of the lowest-cost producers of aluminium in the world. The Meenakshi coal mining project is expected to create approximately 16,000 direct and indirect ...

UltraTech to buy 8.69% stake in Meghalaya-based Star Cement for Rs 851 cr

Aditya Birla Group company to expand presence in East India with new acquisition

Time for India Inc to join the capex party and invest more, says Birla

Industrialist Kumar Mangalam Birla on Friday exhorted India Inc to push up the pedal on investment. The government has increased its capital expenditure five-fold in the last decade, Birla said while speaking at a Bombay Chamber of Commerce and Industry's 189th foundation day event here. In the comments that come amid concerns of slowing private capex, chairman of the Aditya Birla Group said his diversified grouping and other large conglomerates have embarked on unprecedented capacity expansion spree. "It is now time for India Inc to join the party this investment fervour needs to be far more widespread," Birla said. "We (businesses) have the capacity and the responsibility to define the vision for development and shape the India of tomorrow," the billionaire added. The comments come at a time when growth has hit a seven-quarter low of 5.4 per cent for the July-September period as per official data. Reluctance to invest and a preference to operate at higher capacities has been ...

We have invested $20 bn, want to be among top 2 in our sectors: KM Birla

Aditya Birla Group has invested about USD 20 billion, mainly in manufacturing space, as it looks to be among the top two players across the segments it operates in, a top company official said on Saturday. Speaking at the Hindustan Times Leadership Summit, Aditya Birla Group Chairman KM Birla said the group firm has taken tough decisions, including the acquisition of Novelis by Hindalco, to build scale and aims to expand cement business from 100 million tonnes to 200 million tonnes over the next 10 years. He said most of the group's investments are long-term, with a business outlook over the next 15-20 years, while consumer businesses have a shorter span. "We have USD 20 billion of announced investments that are on the ground. Obviously, you look at it because a lot of them are in the manufacturing space. You would look at the next 15-20 years. Shorter than that doesn't make sense in that kind of business... If, on the other hand, you're looking at fashion retail or jewellery retail

Aditya Birla Group eyes more US investments, cites strong Trump-India ties

Aditya Birla Group Chairman Kumar Mangalam Birla on Sunday said his group is looking to invest further in the US as President-elect Donald Trump has been "positively" inclined towards India in the past. "We are looking forward to investing more in the US. Going by his (Donald Trump's) past record, he is positively inclined towards India and (besides that) he also has a good bond with Narendra Modi," Birla told PTI video services on the sidelines of the silver jubilee celebrations of the Aditya Birla Group's scholarships programme in Mumbai. Aditya Birla Group is a strong player in the metals and chemicals sector in the US through its businesses -- Novelis and Aditya Birla Chemicals. In June this year, the group announced an investment of USD 50 million in a manufacturing and research and development (R&D) centre in Texas. Stating that it is "too early" to comment on how Trump's second tenure as President of the US will be for the industry, Birla said, "Going by the past ...

Aditya Birla Sun Life AMC Q2 results: Net profit rises 36% to Rs 242 cr

Aditya Birla Sun Life AMC, part of Aditya Birla Capital, on Monday reported a 36 per cent year-on-year jump in net profit to Rs 242.4 crore for the three months ended September 2024. The asset management firm had posted a net profit of Rs 178.1 crore in the same quarter of the preceding fiscal, Aditya Birla Sun Life AMC (ABSL AMC) said in a stock exchange filing. The company's revenue from operations rose 27 per cent to Rs 424.2 crore in the July-September quarter of the current fiscal (FY25) from Rs 335 crore in the year-ago period. ABSL AMC's assets under management increased 23 per cent to Rs 3.83 lakh crore at the end of September 2023. For the first half of FY25, the company reported a profit after tax (PAT) stood at Rs 480 crore, reflecting a 32 per cent growth year-on-year. It posted total revenue of Rs 1,000 crore, marking a 28 per cent increase year-on-year.

Hindalco industries joins International Copper Association as new member

Global industry body International Copper Association (ICA) has elected Aditya Birla Group firm Hindalco Industries Ltd as its newest member. Operating since 1958, Hindalco Industries., the metals flagship firm of the Aditya Birla Group, is a leading copper and aluminium producer. The company produces copper cathodes and continuous cast copper rods for domestic and international markets. "We are excited to join ICA and collaborate with the global copper fraternity to develop the value chain for this critical metal for the world's net zero transition," Rohit Pathak, CEO-Copper Business of Hindalco was quoted as saying in a press statement. India is going to be one of the most exciting hubs for Copper and its products over the next few decades, he said. ICA President Juan Ignacio Daz said, "We are excited to welcome Hindalco Industries to ICA as a key global industry player, sharing our vision to advance the future of human development." ICA is a not-for-profit trade association ...

Ultratech, Ambuja Cements eye more cement sector assets for expansion

Ultratech found Orient Cement deal as expensive

Fundraise allowed VIL's capex cycle, places firm on secure footing: Birla

The fundraise by Vodafone Idea enabled the telco to kick-start its capex cycle again, and that alongside other key initiatives will place it on a "more secure footing" to ensure that the company remains dynamic and competitive, Aditya Birla Group Chairman Kumar Mangalam Birla said on Tuesday. Speaking at the inauguration of IMC and ITUWTSA 2024, Birla exuded confidence that with continued support of the government, Vodafone Idea Ltd (VIL) will do its part in realising India's digital destiny. "With the continued support of the government, I am confident that we will do our part to realise the Prime Minister's digital India destiny. I am a firm believer in the transformative power of India's telecom sector and I see it as a bridge to a more connected, empowered and prosperous India," he said. VIL's fundraise has enabled the company to kick-start its capex cycle, he noted. "Vodafone Idea has already announced the next phase of CapEx worth USD 3.6 billion with three global partners, .

UltraTech Cement raises $500 million via sustainability-linked financing

Sustainability-linked finance is a method through which borrowers meet environmental, social and governance targets while raising funds

RIL, Aditya Birla Group race to capture India's growing consumption market

Both companies' new businesses have emphasis on segments within the consumer space, with Aditya Birla Group recently announcing its entry into the jewellery retail space

Grasim records Rs 1.30 trillion revenue for FY24, driven by cement business

For FY24, Aditya Birla Group's flagship company, Grasim Industries' board of directors has proposed a dividend of Rs 10 per equity share, amounting to a total cash outflow of Rs 669 crore

Rights issues in 2024 yield twice the bounty of last year amid buoyant mkt

Six firms secure Rs 1,000 crore+ each as average ticket size doubles

UltraTech to cross 200 mn tonne per annum capacity by FY27: K M Birla

Leading cement maker UltraTech is expected to cross 200 million tonne per annum capacity by FY27 helped by recent acquisitions and expansion projects, Chairman Kumar Mangalam Birla said on Wednesday. The Aditya Birla Group flagship firm has embarked on a capacity expansion drive "on a scale that is globally unprecedented" in the cement sector, he said while addressing the shareholders in the annual general meeting of the company. UltraTech last month announced acquisition of Tamil Nadu-based India Cements Ltd (ICL). Its Rs 3,142 crore open offer for acquiring 26 per cent stake will tentatively open on September 19. It has already announced the acquisition of a 32.72 per cent stake in ICL from promoters and their associates for Rs 3,954 crore. Besides, UltraTech is acquiring Kesoram Cement Business from Kesoram Industries, for which it received approval from fair trade regulator CCI in March. UltraTech is also increasing the capacity of its existing units as it faces competition fr

Ambani, Bajaj, Birla collectively hold $460 bn, equating to Singapore's GDP

India's most valuable family businesses are collectively worth a whopping Rs 6,009, 100 crore, as per anewly released report which has unveiled the country's most influential family-owned enterprises.

Retail jewellery sector: Indriya entry adds lustre to formalisation

Aditya Birla joins the fray of an already booming jewellery retail market

After paints, Aditya Birla group forays into Rs 6.7 trn jewellery retail

Group aims for brand to be among top three national players in five years

Aditya Birla Sun Life AMC Q1FY25 results: Net profit rises 28% to Rs 236 cr

Aditya Birla Sun Life AMC on Wednesday reported a 28 per cent rise in profit after tax to Rs 235.7 crore, its highest quarterly gain, for the three months ended June 2024. The asset management firm, part of Aditya Birla Capital, had posted a profit after tax (PAT) of Rs 184.6 crore in the same quarter of the preceding fiscal, according to a stock exchange filing. The company's revenue from operations rose 24 per cent to Rs 386.6 crore in the quarter under review from Rs 311.2 crore in the April-June quarter of the preceding fiscal (2023-24). ABSL AMC's assets under management stood at Rs 3.52 lakh crore at the end of the June 2024 quarter, reflecting a 19 per cent year-on-year growth. Founded in 1994, ABSL AMC is co-owned by Aditya Birla Capital and Sun Life (India) AMC Investments Inc. It is one of the leading asset managers in India, servicing around 9.4 million investor accounts with a pan-India presence across over 300 locations.

Cement sector sees muted growth of 2-3% in Q1FY25 due to LS polls: ICRA

The cement sector has witnessed a muted growth of 2-3 per cent in the first quarter of current fiscal on account of a slowdown in construction activity because of the Lok Sabha polls, according to a report from rating agency Icra. However, the overall volumes for the FY2024-25 are likely to expand by 7-8 per cent driven by a healthy demand from the infrastructure and housing sectors. "Nevertheless, the government's focus on infrastructure projects, sanction of additional houses under the Pradhan Mantri Awas Yojana (PMAY), and the industrial capex is expected to meaningfully improve cement volume offtake in H2 FY2025," it said. The report also projects further consolidation in the cement industry by the top players to increase their capacity. The sector has witnessed consolidation by leading players such as Aditya Birla group firm UltraTech Cement and Adani group firm Ambuja Cements. Besides, the sector is also expected to continue its organic growth in the medium term as makers ..