UltraTech Cement

{{Infobox company

| name = UltraTech Cement Limited

| logo = Ultratech Cement Logo.svg

| logo_caption = Logo of UltraTech Cement

| image =

| type = Public

| traded_as = {{Unbulleted list|{{BSE|532538}}|{{NSE|ULTRACEMCO}}|BSE SENSEX constituent|NSE NIFTY 50 constituent}}

| ISIN = {{ISIN|sl=n|pl=y|INE481G01011}}

| industry = Building materials

| foundation = 1983 ; 42 years ago

| location = Mumbai, Maharashtra, India

| key_people = *K. C. Jhanwar (Managing Director)

Vivek Agarwal (Director)

| products = Cement

| revenue = {{Increase}} {{INRConvert|76699|c}}

| revenue_year = 2025

| operating_income = {{Decrease}} {{INRConvert|7636|c}}

| income_year = 2025

| net_income = {{Decrease}} {{INRConvert|6039|c}}

| net_income_year = 2025

| assets = {{Increase}} {{INRConvert|133697|c}}

| assets_year = 2025

| equity = {{Increase}} {{INRConvert|70706|c}}

| equity_year = 2025

| num_employees = 23,137 (excluding 50,516 non-permanent workers) (2024)

| owner = Grasim Industries (56.11%){{cite web |title=Statement showing shareholding pattern of the Promoter and Promoter Group |url=https://www.bseindia.com/corporates/shpPromoterNGroup.aspx?scripcd=532538&qtrid=125.00&QtrName=March%202025 |publisher=BSE |access-date=2 May 2025}}

| parent = Aditya Birla Group

| website = {{URL|www.ultratechcement.com}}

| footnotes = Financials {{as of|2025|03|31|lc=y|df=yes}}.{{cite web |title=Statement of Audited Consolidated Financial Results for the Three Months and Year Ended 31/03/2025 |url=https://www.ultratechcement.com/content/dam/ultratechcementwebsite/pdf/financials/financial-results/fy25/q4/Q4FY25Results.pdf |publisher=UltraTech Cement |access-date=2 May 2025}}

}}

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.{{Cite web|url=https://www.financialexpress.com/business/industry-ultratech-cement-acquires-cement-grinding-assets-of-burnpur-cement-for-rs-169-79-crore-3321051/|title=Ultratech Acquires cement grinding assets of burnpur cement|date=29 November 2023 }}{{Cite web|url=https://www.grasim.com/Upload/PDF/utcl-financials-fy24.pdf|title=Ultratech Annual Report 2024}}

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.{{cite news |title=L & T Cement Bidders May Be Losing Interest |url=https://www.business-standard.com/article/specials/l-t-cement-bidders-may-be-losing-interest-100093001024_1.html |access-date=8 May 2024 |work=Business Standard}}

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.{{cite news |title=Reliance sells 10 per cent stake in L&T to Grasim: Reuters |url=https://www.rediff.com/money/2001/nov/19l&t.htm |access-date=8 May 2024 |work=Rediff}}{{cite news |title=India: Cement industry taking a concrete shape |url=https://www.arabnews.com/node/216869 |access-date=8 May 2024 |work=Arab News |date=10 December 2001 |language=en}} 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.{{cite news |title=Grasim objects to L&T cement hive off plan |url=https://www.rediff.com/money/report/grasim/20021210.htm |access-date=8 May 2024 |work=Rediff |language=en}}

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.{{cite news |title=Grasim to acquire L&T cement business |url=https://timesofindia.indiatimes.com/business/india-business/grasim-to-acquire-lt-cement-business/articleshow/27685.cms |access-date=8 May 2024 |work=The Times of India |date=17 June 2003}}{{cite news |title=L&T set for cement demerger |url=https://economictimes.indiatimes.com/business-empires-the-birlas/av-birla-group/ultra-tech-cemco/lt-set-for-cement-demerger/articleshow/907734.cms |access-date=8 May 2024 |work=The Economic Times |date=4 February 2004}} The deal was executed in 2004, with Grasim obtaining management control of UltraTech CemCo (later renamed as UltraTech Cement) with its 51% stake,{{cite news |title=AV Birla group to rename UltraTech Cemco |url=https://www.business-standard.com/article/companies/av-birla-group-to-rename-ultratech-cemco-104091001068_1.html |access-date=8 May 2024 |work=Business Standard}} while L&T retained 11.5% shareholding.{{cite news |title=Finally, L&T calls it quits with UltraTech |url=https://economictimes.indiatimes.com/industry/indl-goods/svs/cement/finally-lt-calls-it-quits-with-ultratech/articleshow/4642321.cms |access-date=8 May 2024 |work=The Economic Times |date=11 June 2009}}

Mergers and acquisitions

2013 - Acquired Jaypee Group's Gujarat cement unit for {{INR}}3,800 cr.{{Cite web |date=11 September 2013 |title=UltraTech acquires Jaypee Cement unit for Rs. 3,800 cr |url=https://www.hindustantimes.com/business/ultratech-acquires-jaypee-cement-unit-for-rs-3-800-cr/story-4RyHojaPqDACPjjeRhVt8H.html |access-date=4 March 2021 |website=Hindustan Times |language=en}}

2017 - Acquired Jaiprakash Associates's six integrated cement plants for {{INR}}16,189 cr.{{Cite news |title=UltraTech completes acquisition of Jaiprakash group cement business |work=The Economic Times |url=https://economictimes.indiatimes.com/industry/indl-goods/svs/cement/ultratech-completes-acquisition-of-jaiprakash-group-cement-business/articleshow/59372842.cms?from=mdr |access-date=4 March 2021}}

2018 - Entered into a scheme of arrangement with Century Textile and Industries to demerge Century's cement business into ultratech.{{Cite web |last=Jain |first=Aniruddha |date=18 June 2018 |title=UltraTech acquires Century Textiles' cement business {{!}} M&A Critique |url=https://mnacritique.mergersindia.com/century-textiles-industries-demerger-ultratech-cement/ |access-date=4 March 2021 |language=en-US}}

Nov 2018 - Acquired Binani Cement for {{INR}}7,266 cr.{{Cite web |title=BCL auction: UltraTech to buy Binani Cement for Rs 7,266 crore, seeks end to insolvency proceedings |url=https://www.businesstoday.in/current/corporate/bcl-auction-ultratech-to-buy-binani-cement-for-rs-7266-crore/story/272974.html |access-date=4 March 2021 |website=businesstoday.in |date=19 March 2018}}{{Cite news |last=Gaur |first=Vatsala |title=Ultratech Cement makes Binani its subsidiary |work=The Economic Times |url=https://economictimes.indiatimes.com/industry/indl-goods/svs/cement/ultratech-cement-makes-binani-its-subsidiary/articleshow/66708386.cms?from=mdr |access-date=4 March 2021}}

Dec 2023 - Acquired Cement grinding assets of Burnpur Cement Ltd. From Punjab National Bank's Asset Reconstruction Company's auction for cash consideration of {{INRConvert|169.79|c}}. {{Cite web|url=https://www.financialexpress.com/business/industry-ultratech-cement-acquires-cement-grinding-assets-of-burnpur-cement-for-rs-169-79-crore-3321051/|title=Ultratech Cement acquires cement grinding assets of burnpur cement|date=29 November 2023 }}