Ultratech Cement gains on commissioning 1.2 mtpa cement capacity

Ultratech Cement rose 1.43% to Rs 7355.90 after the company announced the commissioning of cement capacity of 1.2 mtpa in October 2021.

Oct 13, 2021 12:10 IST capital market

The cement major said that Patliputra Cement Works in Bihar added cement capacity of 0.6 mtpa, taking its capacity to 2.5 mtpa. Dankuni Cement Works in West Bengal increased cement capacity of 0.6 mtpa, taking its capacity to 2.2 mtpa.

This additional capacity will help Ultratech Cement to service the fast-growing cement demand in the Eastern markets and will also help in increasing its blended cement ratio.

The company said its total cement manufacturing capacity in India now stands increased to 112.55 mtpa.

Further, UltraTech Cement has announced signing a non-binding memorandum of understanding (MoU) with Punjab Renewable Energy Systems (PRESPL), Indias largest biomass aggregation and densification company with forward integrated value chain.

The MoU is part of UltraTechs endeavor to decarbonize its operations and scale-up the use of biomass in cement manufacturing.

Under the agreement, PRESPL will execute the biomass-based projects at three of UltraTechs units. Cumulatively, implementation of these three projects is estimated to generate annual carbon savings of over 150 thousand tonnes of CO2.

As part of this agreement, PRESPL will also build a sustainable supply chain of agricultural waste to be utilized as biomass energy in the kilns of UltraTechs integrated units.

On a consolidated basis, Ultratech Cement reported 114% rise in net profit to Rs 1,703 crore in Q1 FY22 from Rs 794 crore in Q1 FY21. Revenues (net of taxes) rose by 54% YoY to Rs 11,698 crore during the quarter.

UltraTech Cement is the largest manufacturer of grey cement, white cement and ready-mix concrete in India.

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