UltraTech Cement, a key player in the cement industry and part of the Aditya Birla Group, has announced that cement demand in India is expected to exceed 640 million tonnes per annum (MTPA) by FY30. The company presented this forecast in its latest investor update.
The cement industry is anticipated to grow at a compound annual growth rate (CAGR) of 7 to 8 percent between FY24 and FY30, based on industry research and estimates. In the fiscal year ending March 31, 2024, cement demand was recorded at 424 MTPA.
UltraTech Cement plans to increase its grey cement production capacity, targeting an output of 209.3 MTPA by FY27. As of FY25, its capacity has grown to 182.8 MTPA, up from 140.8 MTPA in FY24, with 5.4 MTPA coming from international operations.
The company is expanding through a combination of acquisitions, brownfield, and greenfield projects, with plans to add 26.5 MTPA in FY26 and FY27. UltraTech is also working towards achieving a pan-India presence, with 82 locations across the country.
Facing competition from Adani Group’s Ambuja Cement, UltraTech continues to grow its footprint in the cement sector. The company also operates 4,432 UltraTech Building Solutions outlets, which offer comprehensive building solutions to retail customers, increasing customer wallet share to 60 percent.
In addition, UltraTech Cement has entered the wires and cables market, announcing an investment of Rs 1,800 crore to set up a new plant near Bharuch, Gujarat. The plant, expected to be operational by December 2026, will produce a range of cables including low tension, control, and flexible wires. The wires and cables segment is projected to grow by 13 percent over the next five years. For FY24, UltraTech’s revenue reached Rs 68,640.63 crore. The company’s stock was trading at Rs 10,363.15 on the Bombay Stock Exchange (BSE), reflecting a 2.46 percent increase from the previous close.
