UltraTech Cement will sell its 6.49 per cent stake in India Cements worth Rs 745 crore via offer for sale to meet regulatory norms on public shareholding by 2026
UltraTech Cement's consolidated net sales rose 13 per cent year-on-year (Y-o-Y) to ₹21,040 crore, up from ₹18,626 crore in the corresponding period last year.
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Cement prices rose 6% YoY in Q1 FY26 while moderate volume growth and soft fuel costs are expected to aid profitability despite seasonal monsoon impact
Fair trade regulator CCI has directed Aditya Birla firm UltraTech, which now owns south-based cement firm India Cements, along with two other makers, and their executives to submit financial documents, after its Director General in its investigations found contravention of competition norms. The Competition Commission of India (CCI) has also directed Dalmia Bharat Cements and Shree Digvijay Cements to submit their audited financial statement, including balance sheet and profit and loss account, within eight weeks of the order. It has directed UltraTech to submit the financial statements of its subsidiary India Cements for five years from FY15 to FY19, while Dalmia Bharat Cements and Shree Digvijay Cements for nine years, from FY11 to FY19. Besides, CCI has also directed their executives to submit detailed financials and income tax records for five years, along with formal responses to the investigation report. An email sent to UltraTech Cements and Dalmia Cement Bharat remained ...
The growth in the company's overall consolidated sales volume during the quarter is amid its acquisitions of Kesoram Industries and India Cements
The deal is expected to close in the next 90 days, subject to applicable regulatory approvals and compliance, the company said in a statement
Cement demand is expected to cross 640 million tonnes per annum by FY30, said leading player and Aditya Birla group flagship firm UltraTech Cement in an investor presentation. It expects the cement demand to have a compound annual growth rate (CAGR) of 7 to 8 per cent between FY24 and FY30, citing industry estimates and research reports. The cement demand was at 424 MTPA in the financial year which ended on March 31, 2024, according to the investor presentation, a copy of which was submitted to exchanges last week. The "cement demand expected to cross 640 MTPA by FY30," said UltraTech Cement Ltd. The company is expanding its grey cement production capacity and has projected to have 209.3 MTPA output by FY27. UltraTech's capacity has increased to 182.8 MTPA so far in FY25, which includes 5.4 MTPA in overseas, from an overall 140.8 MTPA of FY24. The Aditya Birla group firm is expanding its capacity through acquisitions and brownfield as well as greenfield expansions. It plans to add
Goldman Sachs reportedly has maintained a 'Buy' rating and increased its target price to Rs 12,580, up from Rs 12,460, citing volume recovery and lower costs contributing to margin improvement
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The company, owned by UltraTech Cement, said its losses before exceptional items and taxes, for the quarter ended December, widened to Rs 307 cr ($35.5 million), from loss of Rs 50.24 cr a year ago
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UltraTech Cement's consolidated profit dropped 36 per cent year-on-year (Y-o-Y) to Rs 825 crore in the September quarter of FY25, from Rs 1,280 crore in the September quarter of FY24.
Analysts tracking the cement sector say that subdued economic activity in the first quarter is likely to weigh on sector leader UltraTech Cement's numbers, which reports its Q2 results today
Cement players hiked prices in Sept'24, but had to roll back prices in the South. In the first week of Oct'24, price hikes have again been announced and it remains to be seen if these are sustained
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