Ultratech Cement

By Sarita Chaganti Singh and Sethuraman N R

NEW DELHI, Sept 26 (Reuters) - India has ordered more than 100 captive coal-fired power plants to operate at maximum capacity from October 1 through year-end to meet what it expects will be a rise in electricity demand.

• The federal power ministry's order, invoked under emergency provisions of the Electricity Act, applies to plants with installed capacity of at least 50 megawatts

• The aim is to meet an "expected rise in electricity demand in the coming months," showed the order dated September 25 and seen by Reuters

• Nearly 40% of coal-fired plants are operating with critically low fuel stock due to a surge in power demand as the El Niño climate phenomenon raises temperatures more than usual

• The plants primarily serve industrial facilities such as aluminium smelters, steel manufacturers, cement factories and oil refineries

• The power ministry has directed generators to sell surplus electricity through power exchanges

• The order covers 112 plants belonging to companies including Vedanta VDAN.NS, Tata Steel TISC.NS, Hindalco Industries HALC.NS, JSW Steel JSTL.NS, UltraTech Cement ULTC.NS, Reliance Industries RELI.NS, Indian Oil IOC.NS, Bharat Aluminium BHLNO.UL, Hindustan Zinc HZNC.NS and Nayara Energy

• The ministry has ordered plants to report weekly to the Central Electricity Authority detailing generation, captive consumption, power sales, available capacity and coal stocks

• Separately, the ministry has extended an earlier emergency order requiring Tata Power's TTPW.NS imported coal-fired plant in Mundra, Gujarat, to operate at full capacity until December 31, citing the demand situation

• Section 11 of the Electricity Act allows the government, under extraordinary circumstances, to direct generators to operate power stations in accordance with its instructions

(Reporting by Sethuraman NR and Sarita Chaganti Singh; Editing by Christopher Cushing)

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Sept 3 (Reuters) - India's UltraTech Cement ULTC.NS on Thursday launched its wires and cables business, Ultravolt, with a planned investment of 18 billion rupees ($190.5 million), marking the Aditya Birla Group's fourth new business foray in three years.

($1 = 94.4850 Indian rupees)

(Reporting by Urvi Dugar in Bengaluru; Editing by Shreya Biswas)

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Sept 2 (Reuters) - UltraTech Cement Ltd ULTC.NS:

• ULTRATECH CEMENT - TO SCALE UP EV TRUCK FLEET TO 600+ BY DECEMBER 2026

• ULTRATECH CEMENT - SIGNS SERVICE CONTRACTS WITH EV MANUFACTURERS FOR TRUCK DEPLOYMENT

Source text: ID:nBSE3cCzHJ

Further company coverage: ULTC.NS

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UltraTech Cement commenced commercial production at its Wires & Cables plant in Jhagadia, Gujarat, on 1 September 2026. The facility will produce house wires and light-duty cables and has an installed capacity of 1,098,000 kilometres. The cables and wires business is one of UltraTech's newer downstream ventures alongside its building-materials activities and captive solar initiatives. The company reported FY26 revenue of ₹87,384 crore and domestic cement capacity of more than 200 million tonnes a year.

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** KEI Industries KEIN.NS, Polycab India POLC.NS slide 6.1% and 4.8%, respectively

** Havells India HVEL.NS down 2% to 1,220.5 rupees

** UltraTech Cement ULTC.NS, India's top cement maker, commences production at its wires and cables plant in Gujarat

** ULTC had announced a foray into the sector in February; analysts had said its entry could disrupt the industry due to increased competition

** ULTC shares up 0.3% on the day; down 2.7% YTD

** YTD, KEIN and POLC up 21.2% and 18%, respectively; HVEL down 14.2%

(Reporting by Vivek Kumar M)

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Aug 21 (Reuters) - Grasim Industries Ltd GRAS.NS:

• UHG HOLDINGS IFSC INCORPORATED IN IFSC AT GUJARAT INTERNATIONAL FINANCE TEC-CITY

Further company coverage: GRAS.NS

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Aug 3 (Reuters) - UltraTech Cement Ltd ULTC.NS:

• APPROVED ALLOTMENT OF NON-CONVERTIBLE DEBENTURES AMOUNTING TO 50 BILLION RUPEES

Source text: ID:nnAZN4TBEOU

Further company coverage: ULTC.NS

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MUMBAI, July 31 (Reuters) - India's UltraTech Cement ULTC.NS has accepted bids worth an aggregate of 50 billion rupees ($524.22 million) for multiple-tenor bonds, its largest-ever rupee bond sale, three merchant bankers said on Friday.

UltraTech Cement accepted bids of 15 billion rupees each for 2-year and 6-month and 3-year and 6-month bonds at 7.22% and 7.23% coupons, respectively.

It raised 20 billion rupees through 5-year papers at an annual coupon of 7.25%, and had invited commitment bids for all the tenors earlier in the day, the bankers added.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on July 31:

*Size includes base plus greenshoe for some issues

($1 = 95.3800 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)

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FRANKFURT, July 30 (Reuters) - Heidelberg Materials HEIG.DE may consider selling its Indian operations if the right opportunity arises, its chief executive said on Thursday, adding that for now the goal was to develop the business.

"If at some point there is an exit trigger we may think about it," Dominik von Achten told investors after presenting second-quarter results.

Heidelberg Materials owns 69.39% in Heidelbergcement India Ltd HEID.NS.

Moneycontrol last year reported UltraTech Cement, India's top cement producer by capacity, was in advanced talks with Heidelberg Materials to buy its local business, citing people familiar with the matter.

(Reporting by Christoph Steitz
Editing by Ludwig Burger)

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MUMBAI, July 29 (Reuters) - India's UltraTech Cement ULTC.NS plans to raise an aggregate of 50 billion rupees ($522.36 million) through sale of multiple-tenor bonds, its largest-ever rupee bond sale, three merchant bankers said on Wednesday.

UltraTech Cement will raise 15 billion rupees each through 2-year and 6-month and 3-year and 6-month bonds at 7.22% and 7.23% coupons, respectively.

It will raise 20 billion rupees through 5-year papers at an annual coupon of 7.25%, and has invited commitment bids for all the tenors on Friday, the bankers added.

The company did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on July 29:

*Size includes base plus greenshoe for some issues

($1 = 95.7200 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Harikrishnan Nair)

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By Dharamraj Dhutia

MUMBAI, July 27 (Reuters) - India's UltraTech Cement ULTC.NS is in talks with merchant bankers and arrangers to raise what would be its biggest rupee bond funding, two bankers aware of the matter said on Monday, as it seeks to tap debt markets ahead of the central bank's policy decision next week.

The country's largest cement producer by capacity plans to raise an aggregate 50 billion rupees ($517.80 million) through bonds maturing in two-and-a-half years, three-and-a-half years and five years, the sources said requesting anonymity as the talks are still private.

It is targeting 15 billion rupees each in the shorter two tranches at annual coupons of 7.22% and 7.23%, respectively, and 20 billion rupees in the five-year tranche at 7.25%.

The bankers said UltraTech aimed to complete the sale before the Reserve Bank of India's monetary policy decision on August 5.

The company did not respond to a Reuters email seeking comment outside regular business hours.

The bonds are rated AAA by Crisil and may attract demand from mutual funds seeking high-quality credit, the bankers said.

In March 2025, UltraTech raised 10 billion rupees each through three-year and five-year bonds at an annual coupon of 7.34%.

It has 35 billion rupees of bonds outstanding, including 5 billion rupees due within a month.

The cement maker reported a nearly 17% rise in first-quarter profit earlier this month as it used its scale and market position to absorb higher fuel costs linked to the Middle East conflict better than smaller rivals.

($1 = 96.5625 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Subhranshu Sahu)

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July 24 (Reuters) - Adani Group-owned cement maker ACC ACC.NS reported a decline in first-quarter revenue and profit on Friday, with rising fuel and logistics costs more than eroding gains from a modest increase in cement sales volumes, underscoring margin pressure across the industry.

Here are some more details:

• Net profit after tax fell 61.6% in the quarter ended June 30 to 1.48 billion rupees, while revenue dropped 8.1%.

• Sales volumes stood at 10 million tonnes.

• Cement demand is expected to remain soft at about 5% for FY27, the company said.

• CEO Vinod Bahety says profit was hurt by maintenance shutdowns at key plants and higher service-related charges paid to parent Ambuja Cements.

• Rising costs of key raw materials like petcoke, coal and diesel hurt margins for cement makers, a headwind for the entire sector.

• Investors are closely watching for progress on cost and operational synergies between ACC and Ambuja Cements ABUJ.NS as the Adani Group aims to expand its market share.

• On Monday, India's largest cement maker and peer UltraTech Cement ULTC.NS reported a near 17% rise in first-quarter profit and unveiled plans to increase capacity addition in fiscal 2028.

(Reporting by Urvi Dugar and Abhinav Parmar in Bengaluru; Editing by Subhranshu Sahu and Nivedita Bhattacharjee)

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July 23 (Reuters) - UltraTech Cement Ltd ULTC.NS:

• ULTRATECH CEMENT - TO RAISE UP TO 50 BILLION RUPEES VIA DEBENTURE ISSUE

Source text: ID:nBSE9ftZt5

Further company coverage: ULTC.NS

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BENGALURU, July 20 (Reuters) - Diary of India economic, corporate events on July 20

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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June 10 (Reuters) - UltraTech Cement Ltd ULTC.NS:

• ULTRATECH CEMENT - TO ACQUIRE 13.99% EQUITY SHARES OF FPEL SERVICES

Source text: ID:nBSE59YxLV

Further company coverage: ULTC.NS

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** Shares of Ultratech Cement ULTC.NS up 2.26% to 12,282 rupees apiece; last down 1.03% to 11,886 rupees

** India's largest cement maker beat quarterly profit estimates; consol net profit rises 20.2% to 29.83 billion rupees ($315.80 million)

** Investec ("Buy"; PT: 14,868 rupees) says quarterly profit beat aided by pricing, adds incremental expansions to support growth, while keeping capex intensity low

** Emkay Global ("Buy"; PT: 13,000 rupees) says operating costs flat YoY despite 50 rupees/tonne impact from U.S.-Iran conflict due to swift ramp-up of acquired assets

** CLSA ("High Conviction Outperform"; raises PT to 14,000 rupees) says says sustained cost efficiency positions company to absorb Middle East conflict headwinds

** Expects mid-to-high teen EBITDA growth over medium term from capacity-led volume growth and margin improvement

** Stock rated as "Buy" on average by 38 analysts; median PT at 14,045 rupees per data compiled by LSEG

** YTD, stock up 1.6%

($1 = 94.4600 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru)

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Adds details from analyst call in paragraphs 10-13

By Surbhi Misra and Anuran Sadhu

April 27 (Reuters) - UltraTech Cement ULTC.NS, India's largest cement maker by capacity, beat quarterly profit estimates on Monday, helped by improved demand amid favourable weather for construction activity.

India's cement demand increased 6% to 7% year-on-year in the three months ended March, supported by strong activity in January and February and resilient infrastructure-led demand, according to analysts at HDFC Securities.

UltraTech's revenue rose about 12% to 257.99 billion rupees ($2.74 billion), supported by a 9% growth in sales volume, as the firm increased its market share on the back of better capacity utilization.

"Capacity utilisation surged to 89%, propelled by robust demand across housing, infrastructure, and commercial construction segments," the company said in an exchange filing.

Chief Financial Officer Atul Daga said the company expects a volume growth of 7% to 8% annually and is targeting double-digit growth in fiscal year 2027.

Daga said the Iran war may impact earnings in July to September if tensions persist, adding the cement maker should do better than the industry due to long-term fuel contracts and diversified sourcing.

UltraTech plans to add 15.9 million tonnes per annum of cement capacity in fiscal 2027 and another 29.8 million tonnes in fiscal 2028 as it expands its footprint.

"The company plans annual capital expenditure of about 80 billion to 100 billion rupees over the foreseeable future," Daga said in a post-earnings call.

UltraTech's consolidated net profit, which includes earnings from subsidiaries and recently integrated India Cements ICMN.NS and assets of Kesoram Industries, rose 20.2% to 29.83 billion rupees.

Analysts had expected a profit of 28.1 billion rupees, per data compiled by LSEG.

Weak cement prices in southern and eastern parts of India hurt the firm's operating margin, which dropped to 20% from 22% a year ago.

Analysts had expected an increase in operating costs for cement makers, due to higher fuel prices and elevated packing costs. UltraTech's raw material costs rose 15.4%, pushing total expenses up 9.2% to 218.94 billion rupees.

($1 = 94.1900 Indian rupees)

(Reporting by Anuran Sadhu and Surbhi Misra in Bengaluru; Editing by Subhranshu Sahu and Vijay Kishore)

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April 17 (Reuters) - UltraTech Cement Ltd ULTC.NS:

• ULTRATECH CEMENT - TO COMMISSION THREE NEW GRINDING UNITS WITH 8.7 MTPA CAPACITY

Source text: ID:nBSE8mpFn1

Further company coverage: ULTC.NS

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March 25 (Reuters) - UltraTech Cement Ltd ULTC.NS:

• GETS TAX DEMAND OF 289.7 MILLION RUPEES ALONG WITH INTEREST, PENALTY

Source text: ID:nBSE74GDq0

Further company coverage: ULTC.NS

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