Ultratech plans to invest ₹6,500 crore on a progress plan to increase capacities by 19.8 million tonnes MT in FY 22 and FY 23, stated its chairman Kumar Mangalam Birla. “These expansions, once commissioned, would further strengthen your company’s market share and financial performance,” stated Birla.
“During FY21, your company repaid long-term debt amounting to ₹5,227 crores and also repaid short-term loans as per due dates,” Birla added. “The fiscal stance clearly seems to be poised for an acceleration of government capex in the coming years, especially with the national infrastructure pipeline projects,” Birla stated, including there are very robust alerts of a pick-up within the non-public sector capex cycle, pushed by firms like UltraTech.
“The three factors of cyclical upswing, conducive policy impulses and an improving global backdrop is likely to align themselves to position India for a virtuous cycle of growth and investments in the medium term,” Birla stated. In FY21, UltraTech adopted science-based targets as a part of its local weather dedication to scale back CO2 emission/ MT cement. “The goal is to reduce emissions by 27% till 2032 over the base of 2017. Plans have been articulated to achieve this target,” Birla stated.
