UltraTech Cement Expands Capacity to 151.6mtpa, Eyes ₹32,400 Crore Investment

3 Apr 2024 , 10:18 AM

UltraTech Cement, owned by the Aditya Birla group, inaugurated two new greenfield projects in Chhattisgarh and Tamil Nadu, pushing its total capacity to 151.6 million tonnes per annum (mtpa).

The company revealed plans to invest ₹32,400 Crore in capital expenditure over the next three years.

UltraTech Cement highlighted that it achieved a significant milestone by adding 50 mtpa capacity in less than 5 years, with an investment of around ₹32,000 Crore, after reaching 100 mtpa capacity over 36 years.

Over the past two decades, UltraTech Cement has grown 11 times, surpassing the industry’s growth rate of four times.

Kumar Mangalam Birla, Chairman of Aditya Birla Group, emphasized that this milestone reflects India’s progress globally and showcases the dynamism and scale of Indian corporations.

Apart from the two new plants adding 5.4 mtpa capacity, UltraTech Cement expanded its volume by 18.7 mtpa in the past year, with ongoing expansion of 35.5 mtpa across 16 locations and the proposed acquisition of Kesoram Cement.

KC Jhanwar, managing director of UltraTech Cement, described the achievement as a significant milestone in the company’s transformative growth journey, indicating ample growth opportunities for the cement sector in India’s strong growth trajectory.

Shares of UltraTech Cement Limited surged over 2% to ₹10,278 in morning trading on April 3 following the company’s announcement of commencing operations at two greenfield projects in Chhattisgarh and Tamil Nadu.

As of 10.15 am, the stock was trading at ₹10,189, up 1.5% from the previous close on the National Stock Exchange (NSE). However, despite this recent uptick, the stock has experienced a decline of over 4% since the beginning of the year.

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