The shares of India’s largest cement manufacturer with a market share of over 23 percent jumped upto 2 percent in the day’s trade following the commissioning of two greenfield projects and future investment plans of Rs. 32,400 Crores.
With a market capitalization of Rs. 2,94,295 Crores, the shares of Ultratech Cement Limited were trading at Rs. 10,194, up 1.54 percent from its previous day’s close price of Rs. 10,039.
Ultratech Cement Limited has commissioned two new greenfield capacities totaling 5.4 mtpa in the states of Chhattisgarh and Tamil Nadu, taking the Company’s total cement capacity to 151.6 mtpa.
It subsequently added more than 50 mtpa in less than 5 years with an investment of around Rs. 32,000 crores and is committed to a capex of Rs.32,400 crores over the next three years
Over the last 12 months, UltraTech has expanded its capacity by 18.7 mtpa, and the ongoing expansion of 35.5 mtpa is actively being implemented across 16 locations. In addition, the Company is in the process of closing the proposed acquisition of Kesoram Cement. This will further augment UltraTech’s grey cement capacity to 198.2 mtpa.
UltraTech Cement is the largest cement manufacturer and the market leader in India with a market share of 25.9 percent. It is engaged in the manufacturing and sale of Cement and Cement-related products in India and overseas.
UltraTech Cement has a mix of integrated cement plants, grinding units, and bulk terminals across 59 locations in India along with 307 ready-mix concrete plants.
Its revenue from operations grew by 7.85 percent from Rs. 15,521 Crores in Q3FY23 to Rs. 16,740 Crores in Q3FY24, accompanied by profits of 1,063 Crores to Rs. 1,775 Crores.
Written by: Bharath K.S
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