UltraTech Cement announced on Monday that it has successfully secured $500 million through a sustainability-linked loan, involving participation from six banks. This transaction marks the company’s second venture into sustainability-linked financing, following its initial sustainability-linked bond issuance in 2021.
In a statement released to the stock exchange, UltraTech Cement highlighted that this financing underscores its continued commitment to aligning its funding strategies with its sustainability and Environmental, Social, and Governance (ESG) objectives.
Recently, UltraTech Cement, owned by the Aditya Birla Group, approved the acquisition of a 32.72% equity stake from the promoters and their associates in India Cements. This acquisition will make UltraTech Cement the majority shareholder in the southern India-based cement manufacturer, holding 55% of the total shares.
In its financial report for the quarter ending June 30, 2024, UltraTech Cement posted a consolidated net profit of Rs 1,697 crore, a slight increase of 0.50% compared to the Rs 1,688 crore reported in the same period last year.
UltraTech Cement stands as the third-largest cement company globally, excluding China, with a consolidated production capacity of 154.86 Million Tonnes Per Annum (MTPA) of grey cement. It is the only cement company outside of China to surpass a 100 MTPA production capacity within a single country.
UltraTech Cement, a flagship company of the Aditya Birla Group, is India’s largest manufacturer of grey cement, ready-mix concrete (RMC), and white cement. With a formidable production capacity of over 120 million tons per annum, the company operates in both domestic and international markets, spanning across multiple countries in Asia and the Middle East.
UltraTech is known for its commitment to quality, sustainability, and innovation, offering a wide range of products that cater to the diverse needs of the construction industry. The company is also at the forefront of adopting eco-friendly practices, with a strong focus on reducing carbon emissions and enhancing energy efficiency in its operations. UltraTech’s consistent performance and leadership in the cement industry make it a key contributor to infrastructure development and economic growth.
