UltraTech plans Rs 2,500-cr capital expenditure
UltraTech Cement has estimated capital expenditure for the current financial year ending March at Rs 2,500 crore, on account of capacity expansion, waste heat recovery systems, regulatory requirements, plant infrastructure and routine maintenance, the company said in its latest annual report.
India’s largest cement producer will also seek shareholders’ approval to raise up to Rs 9,000 crore through non-convertible debentures during the year, it said in a filing. The Aditya Birla group company has scheduled its 18th AGM on Jul 18 in Mumbai.
In 2017-18, the company spent over RS 1,900 crore on a green field project at Manawar in Madhya Pradesh, a grinding unit at Bara in Uttar Pradesh, a waste heat recovery system in Chhattisgarh, and capital expenditure related to plant modernisation. The company’s net capital expenditure for 2017-18 rose by a sharp 49 per cent to Rs 1,840 crore.
In the financial year ended March, the company commissioned a greenfield clinker capacity of 2.5 mlntn per annum in Madhya Pradesh, a 1.75-mtpa cement-grinding facility and an auto-loading facility.