UltraTech Cement

UltraTech Cement Limited
Company typePublic
IndustryBuilding materials
Founded1983
HeadquartersMumbai, Maharashtra, India
Key people
K.C.Jhanwar, Managing Director[1]
ProductsCement
RevenueIncrease ₹63,743.10 crore (US$8.0 billion) [2] (2023)
Decrease ₹10,619.90 crore (US$1.3 billion) [2] (2023)
Decrease ₹5,064 crore (US$630 million) [2] (2023)
Total assetsIncrease ₹91,837 crore (US$12 billion) [3] (2023)
Total equityIncrease ₹54,380.20 crore (US$6.8 billion) [3] (2023)
Number of employees
22,916 (2023)
ParentAditya Birla Group
Websitewww.ultratechcement.com

UltraTech Cement Limited is an Indian multinational cement company based in Mumbai. It is the largest manufacturer of grey cement, ready-mix concrete (RMC) and white cement in India and 5th largest around the globe with an installed capacity of 151.90 million tonnes per annum and 105.71 million tonnes per annum sales volume.[4][5]

History

In February 2016, Bombay High Court rejected UltraTech's plan to acquire two cement plants from Jaiprakash Associates. In 2015 the court passed the Mines and Mineral Development and Regulation Act after which the company began to make plans to acquire several cement plants as a whole by acquiring Jaiprakash Associates.[6][1]

Mergers and acquisitions

2013 - Acquired Jaypee Group's Gujarat cement unit for ₹3,800 cr.[7]

2017 - Acquired Jaiprakash Associates's six integrated cement plants for ₹16,189 cr.[8]

2018 - Entered into a scheme of arrangement with Century Textile and Industries to demerge Century's cement business into ultratech.[9]

Nov 2018 - Acquired Binani Cement for ₹7,266 cr.[10][11]

Dec 2023 - Acquired Cement grinding assets of Burnpur Cement Ltd. From Punjab National Bank's Assest Reconstruction Company's auction for cash consideration of ₹169.79 crore (US$21 million). [12]

References

  1. ^ a b "UltraTech Cement sets foot in AP". The Hindu. 27 July 2017. ISSN 0971-751X. Retrieved 26 September 2017.
  2. ^ a b c "UltraTech Cement Consolidated Profit & Loss account, UltraTech Cement Financial Statement & Accounts". moneycontrol.com. Retrieved 14 April 2023.
  3. ^ a b "UltraTech Cement Consolidated Balance Sheet, UltraTech Cement Financial Statement & Accounts". moneycontrol.com. Retrieved 14 April 2023.
  4. ^ "Ultratech Acquires cement grinding assets of burnpur cement".
  5. ^ "Fortune India 500 2023 rankings".
  6. ^ "Bombay High Court rejects UltraTech Cement's plan to buy JP Associates' plants in MP". The Economic Times. 27 February 2016. Retrieved 26 September 2017.
  7. ^ "UltraTech acquires Jaypee Cement unit for Rs. 3,800 cr". Hindustan Times. 11 September 2013. Retrieved 4 March 2021.
  8. ^ "UltraTech completes acquisition of Jaiprakash group cement business". The Economic Times. Retrieved 4 March 2021.
  9. ^ Jain, Aniruddha (18 June 2018). "UltraTech acquires Century Textiles' cement business | M&A Critique". Retrieved 4 March 2021.
  10. ^ "BCL auction: UltraTech to buy Binani Cement for Rs 7,266 crore, seeks end to insolvency proceedings". businesstoday.in. 19 March 2018. Retrieved 4 March 2021.
  11. ^ Gaur, Vatsala. "Ultratech Cement makes Binani its subsidiary". The Economic Times. Retrieved 4 March 2021.
  12. ^ "Ultratech Cement acquires cement grinding assets of burnpur cement".

External links

  • Official website
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