UltraTech Cement Limited has acquired a 55.49% stake in The India Cements Limited, making it a subsidiary, in a strategic move to enhance its market position and production capacity in India's growing cement industry.

Information on the Target

UltraTech Cement Limited, part of the Aditya Birla Group, is a leading player in the Indian cement industry. Recently, the company announced its financial results for the quarter ending December 31, 2024, revealing a consolidated net sales figure of Rs. 16,971 crores, an increase from Rs. 16,487 crores in the same period last year. UltraTech's profit after tax during this quarter was reported at Rs. 1,470 crores, down from Rs. 1,777 crores the previous year.

As part of its strategic expansion, UltraTech acquired a substantial stake in The India Cements Limited (ICEM). Following the acquisition of 10,13,91,231 equity shares, UltraTech's total shareholding in ICEM has increased to 55.49%, classifying ICEM as a subsidiary effective from December 24, 2024.

Industry Overview in India

The cement industry in India is one of the country's vital sectors, serving as a barometer for economic growth and construction activity. With increasing investments in infrastructure and