UltraTech plans Rs.12,000 cr capex
UltraTech Cement, a part of the Aditya Birla group, on Thursday announced a capital outlay of over Rs.12,000 crore to be spent over the next five years.
Addressing shareholders at the company’s 10 {+t} {+h} annual general meeting, UltraTech Chairman Kumar Mangalam Birla said the funds would be used in increasing the grinding capacity in Gujarat and setting up additional grinding units across locations, setting up Clinkerisation plants through brownfield expansion at Chhattisgarh and Karnataka, installing waste heat recovery systems. The funds would also go towards instituting bulk packaging terminals across various States. “These projects will be funded through a judicious mix of internal accruals and borrowings. We have a strong balance sheet with a debt-equity ratio of 0.35 and an interest cover of more than 14 times.
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