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UltraTech Cement - Wikipedia
From Wikipedia, the free encyclopedia

UltraTech Cement Limited
Company typePublic
ISININE481G01011
IndustryBuilding materials
Founded1983; 43 years ago (1983)
HeadquartersMumbai, Maharashtra, India
Key people
  • Kumar Mangalam Birla (chairman)
  • K. C. Jhanwar (managing director)
  • Vivek Agarwal (director)
ProductsCement
RevenueIncrease ₹76,699 crore (US$9.1 billion) (2025)
Decrease ₹7,636 crore (US$900 million) (2025)
Decrease ₹6,039 crore (US$710 million) (2025)
Total assetsIncrease ₹133,697 crore (US$16 billion) (2025)
Total equityIncrease ₹70,706 crore (US$8.4 billion) (2025)
OwnerGrasim Industries (56.11%)[1]
Number of employees
23,137 (excluding 50,516 non-permanent workers) (2024)
ParentAditya Birla Group
Websitewww.ultratechcement.com
Footnotes / references
Financials as of 31 March 2025.[2]

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 the fifth largest in the world, with an installed capacity of 152.70 million tonnes per annum and 119 million tonnes per annum sales volume.[3][4]

History

UltraTech Cement traces its origins to 1983 when it began as the cement division of Larsen & Toubro (L&T), being sold under the "L&T Cement" brand. In 2000, L&T decided to sell its cement business and incorporated a wholly owned subsidiary to house the cement assets.[5]

In 2001, Reliance Industries sold its entire 10% stake in L&T to Grasim Industries. At the time, L&T was the largest cement manufacturer in India, while Grasim was the third-largest.[6][7] In 2002, Grasim would increase its stake in L&T to 15% and its attempt to launch an open offer to acquire an additional 20% stake was stayed by the SEBI over a possible violation of takeover rules.[8]

In 2003, L&T announced that it would demerge the cement business into a company called UltraTech CemCo. As part of the demerger plan, Grasim agreed to acquire an 8.5% stake in UltraTech CemCo from L&T, make an open offer to acquire another 30%, and transfer its 15% stake in L&T (residual engineering company) to L&T Employees Welfare Foundation.[9][10] The deal was executed in 2004, with Grasim obtaining management control of UltraTech CemCo (later renamed as UltraTech Cement) with its 51% stake,[11] while L&T retained 11.5% shareholding.[12]

Mergers and acquisitions

2013 - Acquired Jaypee Group's Gujarat cement unit for ₹3,800 cr.[13]

2017 - Acquired Jaiprakash Associates's six integrated cement plants for ₹16,189 cr.[14]

2018 - Entered into a scheme of arrangement with Century Textile and Industries to demerge Century's cement business into ultratech.[15]

Nov 2018 - Acquired Binani Cement for ₹7,266 cr.[16][17]

Dec 2023 - Acquired Cement grinding assets of Burnpur Cement Ltd. From Punjab National Bank's Asset Reconstruction Company's auction for cash consideration of ₹169.79 crore (US$20 million).[18]

Dec 2024 - Acquired majority stake in India Cements for ₹7096.35 cr.[19][20]

Controversies

In January 2022, one worker died and two others were injured in the company's plant at Jafrabad, Gujarat, after hot liquid raw material fell on them while cleaning a silo during a plant shutdown.[21]

In July 2023, three workers died in an oxygen cylinder explosion at UltraTech Cement's plant in Hirmi, Chhattisgarh.[22] In June 2024, a worker died after getting trapped in the belt of a machine at the Manawar factory in Madhya Pradesh.[23]

In July 2024, three workers died and 13 suffered burn injuries after hot mortar fell on them due to a boiler explosion at the company's factory near Jaggayyapeta, Andhra Pradesh, prompting the state government to issue a closure notice to the factory pending conclusion of an investigation.[24]

See also

References

  1. ^ "Statement showing shareholding pattern of the Promoter and Promoter Group". BSE. Retrieved 2 May 2025.
  2. ^ "Statement of Audited Consolidated Financial Results for the Three Months and Year Ended 31/03/2025" (PDF). UltraTech Cement. Retrieved 2 May 2025.
  3. ^ "Ultratech Acquires cement grinding assets of burnpur cement". 29 November 2023.
  4. ^ "Ultratech Annual Report 2024" (PDF).
  5. ^ "L & T Cement Bidders May Be Losing Interest". Business Standard. Retrieved 8 May 2024.
  6. ^ "Reliance sells 10 per cent stake in L&T to Grasim: Reuters". Rediff. Retrieved 8 May 2024.
  7. ^ "India: Cement industry taking a concrete shape". Arab News. 10 December 2001. Retrieved 8 May 2024.
  8. ^ "Grasim objects to L&T cement hive off plan". Rediff. Retrieved 8 May 2024.
  9. ^ "Grasim to acquire L&T cement business". The Times of India. 17 June 2003. Retrieved 8 May 2024.
  10. ^ "L&T set for cement demerger". The Economic Times. 4 February 2004. Retrieved 8 May 2024.
  11. ^ "AV Birla group to rename UltraTech Cemco". Business Standard. Retrieved 8 May 2024.
  12. ^ "Finally, L&T calls it quits with UltraTech". The Economic Times. 11 June 2009. Retrieved 8 May 2024.
  13. ^ "UltraTech acquires Jaypee Cement unit for Rs. 3,800 cr". Hindustan Times. 11 September 2013. Retrieved 4 March 2021.
  14. ^ "UltraTech completes acquisition of Jaiprakash group cement business". The Economic Times. Retrieved 4 March 2021.
  15. ^ Jain, Aniruddha (18 June 2018). "UltraTech acquires Century Textiles' cement business | M&A Critique". Retrieved 4 March 2021.
  16. ^ "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.
  17. ^ Gaur, Vatsala. "Ultratech Cement makes Binani its subsidiary". The Economic Times. Retrieved 4 March 2021.
  18. ^ "Ultratech Cement acquires cement grinding assets of burnpur cement". 29 November 2023.
  19. ^ "CCI approves Ultratech Cement's acquisition of India Cements". The Economic Times. 20 December 2024. ISSN 0013-0389. Retrieved 4 November 2025.
  20. ^ Standard, Business. "New leadership for India Cements, UltraTech appoints new CEO & CFO for new subsidiary". www.business-standard.com. Archived from the original on 23 January 2025. Retrieved 4 November 2025. {{cite web}}: |first= has generic name (help)
  21. ^ "Worker killed at UltraTech Cement's Jafrabad plant in Gujarat". Global Cement. 2 February 2022. Retrieved 16 August 2025.
  22. ^ "3 Workers Killed In Cylinder Blast At Chhattisgarh Cement Factory". NDTV. 19 July 2023. Retrieved 16 August 2025.
  23. ^ "Labourer dies in MP cement plant; mob ransacks factory premises, damages vehicles". The Telegraph. Retrieved 16 August 2025.
  24. ^ "Toll in cement factory accident rises to three". The Times of India. 13 July 2024. Retrieved 16 August 2025.
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