New Delhi, Aditya Birla Group company UltraTech Cement has announced the acquisition of a grinding unit from India Cements for Rs 315 crore and said it will invest an additional Rs 504 crore to expand the capacity of the two units.
In a stock exchange filing, UltraTech said its board has approved the acquisition of a grinding unit with an installed capacity of 1.1 million tonnes per annum besides a captive railway siding at Parli, Maharashtra from Indi Cements Ltd for Rs 315 crore. Rupees''
The company said it has entered into an asset purchase agreement with the seller. “This purchase will help the company strengthen its presence in the fast-growing Maharashtra markets.”
Making a similar regulatory filing, The India Cements said that of the total Rs 315 crore (excluding taxes and levies), "Rs 307 crore will be received by the company soon and the remaining Rs 8 crore will be received within nine months from the date." Of agreement.,
The entity being sold had a turnover of Rs 250.66 crore and net asset value of Rs 75.10 crore in the financial year ending March 31, 2023.
In a separate filing, UltraTech said its board has also approved brownfield capacity expansion - to 1.2 million tonnes per annum at Parli and 1.8 million tonnes at Dhule in Maharashtra at a cost of Rs 166.4 crore after the acquisition of grinding units. By cost. Rs 338 crore.
The expansion, which will be funded from internal resources, will be completed in FY26 (April 2025 to March 2026 financial year).
It said these expansions would "accommodate future growth".
After this exit, India Cements will have a capacity of about 13 million tonnes per annum in the southern region and 1.8 million tonnes in Rajasthan.The Banswara unit also has a clinker mine of 1.2 million tonnes and an auxiliary limestone mine of 1.8 million tonnes.
Separately, UltraTech also received approval from NCLT Kolkata for the proposed scheme of merger of UltraTech Nathdwara and its subsidiaries (all wholly owned subsidiaries of the company) with itself with effect from April 1, 2023. The Mumbai bench of the tribunal has already given approval. Approved last month.
The logic behind this was that simplification of structure and coordination would lead to complete integration of the Nathdwara unit.
In a stock exchange filing, UltraTech said its board has approved the acquisition of a grinding unit with an installed capacity of 1.1 million tonnes per annum besides a captive railway siding at Parli, Maharashtra from Indi Cements Ltd for Rs 315 crore. Rupees''
The company said it has entered into an asset purchase agreement with the seller. “This purchase will help the company strengthen its presence in the fast-growing Maharashtra markets.”
Making a similar regulatory filing, The India Cements said that of the total Rs 315 crore (excluding taxes and levies), "Rs 307 crore will be received by the company soon and the remaining Rs 8 crore will be received within nine months from the date." Of agreement.,
The entity being sold had a turnover of Rs 250.66 crore and net asset value of Rs 75.10 crore in the financial year ending March 31, 2023.
In a separate filing, UltraTech said its board has also approved brownfield capacity expansion - to 1.2 million tonnes per annum at Parli and 1.8 million tonnes at Dhule in Maharashtra at a cost of Rs 166.4 crore after the acquisition of grinding units. By cost. Rs 338 crore.
The expansion, which will be funded from internal resources, will be completed in FY26 (April 2025 to March 2026 financial year).
It said these expansions would "accommodate future growth".
After this exit, India Cements will have a capacity of about 13 million tonnes per annum in the southern region and 1.8 million tonnes in Rajasthan.The Banswara unit also has a clinker mine of 1.2 million tonnes and an auxiliary limestone mine of 1.8 million tonnes.
Separately, UltraTech also received approval from NCLT Kolkata for the proposed scheme of merger of UltraTech Nathdwara and its subsidiaries (all wholly owned subsidiaries of the company) with itself with effect from April 1, 2023. The Mumbai bench of the tribunal has already given approval. Approved last month.
The logic behind this was that simplification of structure and coordination would lead to complete integration of the Nathdwara unit.
