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UltraTech steps towards goals
Mint Mumbai
|December 04, 2023
One step at a time seems to be UltraTech Cement Ltd's motto to meet its long-term target of 200 million tonnes (mt) capacity. Last week, it announced the acquisition of Kesoram Industries' cement assets - a positive move amid concerns of heightened competition, triggering a hunger for market share gains among large cement makers.
UltraTech also recently announced the acquisition of 0.54 mt cement grinding unit of Burnpur Cement at Patratu, Jharkhand for ₹170 crore. UltraTech did not have production capacity in Jharkhand, so this acquisition will address the issue and is expected to reduce logistics costs.
These acquisitions along with planned expansions should accelerate UltraTech's journey to meet its expansion target. After completion of phase II/III expansion and announced acquisitions, UltraTech's pan-India capacity market share is likely to improve by 350-400 basis points going ahead, said an Emkay Global Financial Services report.
This story is from the December 04, 2023 edition of Mint Mumbai.
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