- UltraTech Cement : Gist of Annual Report 2024
- In the CFY, cement demand is projected to grow 7-8% driven by an increase in construction activities across the infrastructure and housing sector. To meet this increased demand, the cement industry is expected to add 35 – 40 MT of capacity in the next FY, with 60-65% concentrated in the eastern and southern regions.
- This demand surge will translate into an increase in capacity utilisation of the industry to 72% in CFY from 68% in FY23.
- India’s infrastructure sector is poised for ‘remarkable growth’, with an estimated 15.3% CAGR in investments, projected over the next five years. This growth is expected to result in a cumulative expenditure of $1.45 trillion.
- The rapid expansion of production capacity, coupled with the significant strengthening of brand equity in the marketplace, positions UltraTech to harness these long-term growth opportunities effectively.
- UltraTech is aggressively expanding its capacity enabling it to be at the forefront of India’s infrastructure development. The capacity of UltraTech, and its ‘scale and capacity footprint is unparalleled’ which will enable it ‘ to service India’s growing demand for cement across the country.
- It recently announced acquiring a majority stake in India Cements Ltd. and also over Rs 3,000 crore open offer to acquire 26% shares of the company.
- In FY24, it recorded net sales of Rs 69,810 crore and crossed the historic milestone of 150 MTPA capacity (from the first cement unit that it commissioned in the early 1980s with one MTPA capacity, its now the world’s third largest cement company, outside of China, thanks to scorching growth, ambitious bets and flawless execution).
- #BCCL pays first-ever ₹44 crore dividend to #CoalIndia
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