The share of the largest grey cement manufacturer gained up to 4 percent after the company’s subsidiary announced the acquisition of 12.56 crore equity shares of RAKWCT.
Ultratech Cement Ltd has a market share of Rs 3.23 lakh crore, the shares were trading in green at Rs 11,205.00 per share, which increased drastically by around 3.52 percent as compared to the previous closing price of Rs 10,848.15 apiece.
Description of Events:-
The company shares have seen such a positive movement after UltraTech Cement Middle East Investments Limited, (“UCMEIL”), a wholly-owned subsidiary of Ultratech Cement announced the acquisition of 12.56 crore equity shares of ‘Ras Al Khaimah Co. for White Cement and Construction Materials PSC (RAKWCT), representing 25% of the share capital.
Matter Explanation:-
Earlier, UltraTech Cement Middle East Investments Limited, (“UCMEIL”), offered to acquire 15.80 crore shares, representing 31.6% of the share capital of ‘Ras Al Khaimah Co. for White Cement and Construction Materials PSC’ (“RAKWCT’). this offer is revised now they will acquire 25% of the share capital of RAKWCT.
Financial condition:-
Examining the company’s financial performance, revenue magnified by 9 percent from Rs 18,662 crore in Q4FY23 to Rs 20,419 crore in Q4FY24, during the same time frame, net profit jumped by 35 percent from Rs 1,670 crore to Rs 2,259 crore.
Future outlook:-
UltraTech Cement Ltd is enhancing its market share through capacity expansion, and diversification into Ready-Mix Concrete (RMC), and white cement. With a production capacity of 152.7 MTPA, 24 manufacturing units, and 307 RMC plants, UltraTech leads India’s largest cement manufacturer and the third-largest globally.
The company is expanding its retail presence with UltraTech Building Solutions (UBS), offering innovative building products like AAC blocks. Mergers and acquisitions, along with sustainability initiatives like the Net Zero Concrete Roadmap and dollar-based sustainability-linked bonds, further strengthen UltraTech’s market position.
Company profile:-
UltraTech Cement Limited is an Indian company that makes and distributes cement and related products. It offers Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), Portland Slag Cement (PSC), Composite Cement (CC), and Ready-Mix Concrete.
Written by:- Abhishek Singh
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