UltraTech Cement Ltd Share Price – NSE /  BSE

Cement, Mid Cap

SLLs are loans where the interest rate is linked to the borrower's sustainability performance. This transaction represents second sustainability-linked financing raised by UltraTech, following its inaugural sustainability-linked bond issuance in 2021.

The cement major stated that this financing is aligned with its recently published Sustainability-Linked Financing Framework which covers the company’s future sustainability-linked bond and loan issuances. UltraTech’s Framework is aligned with the Sustainability-Linked Bond Principles published by the ICMA, the Sustainability-Linked Loan Principles published by the LMA/LSTA/APLMA and has received a Second Party Opinion from S&P Global Ratings, it added.

The loan's Sustainability Performance Targets (SPTs) reflect UltraTech's core sustainability objectives, according to the Framework. The targets include a 27% reduction in Scope 1 emissions per ton of cementitious material (kgCO2/t.cem) by March 2032 from a FY17 baseline and a goal to increase the share of green energy from waste heat recovery systems, solar, and wind power to 85% by FY30 and 100% by FY50.

Sumitomo Mitsui Banking Corporation (SMBC) acted as the sole sustainability coordinator for this transaction and served as the sole advisor on UltraTech’s Sustainability-Linked Financing Framework. Lenders for the transaction include SMBC, SBI, BNP Paribas, DBS, MUFG and Mizuho.

UltraTech Cement is the cement flagship company of the Aditya Birla Group. It is the third largest cement producer in the world, outside of China, with a consolidated Grey Cement capacity of 154.86 MTPA.

The cement major’s consolidated net profit rose marginally to Rs 1,696.59 crore in Q1 FY25 as against Rs 1,688.45 crore in Q1 FY24. Revenue from operations rose 1.87% year on year (YoY) to Rs 18,069.56 crore in the quarter ended 30 June 2024.

The scrip rose 0.58% to currently trade at Rs 11,402.70 on the BSE.

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Securities in F&O ban : Aarti Industries, Aditya Birla Fashion and Retail(ABFRL), Balrampur Chini Mills, Birlasoft, Chambal Fertilisers and Chemicals, Indian Energe Exchange, India Cements, RBL Bank.

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UltraTech Cement announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 30 August 2024 .

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Following this announcement, shares of gained 0.80% to trade at Rs 377.60 on the BSE.

With the latest announcement, UltraTech Cement will become the majority shareholder in India Cements with a holding of 55.49% stake.

UltraTech had made a financial investment in India Cements to acquire 22.77% equity at a price of Rs 268 per share in June 2024.

Post this financial investment, the promoter group approached us as they wanted to sell their holding in the company, and we found it appropriate to acquire their stake in the company,” the Aditya Birla Group company stated.

Post signing of SPA and obtaining regulatory approvals, UltraTech will pay Rs 3,954 crore at Rs 390 share for buying 32.72% stake in India Cements from the promoters & their associates. This will trigger a mandatory open offer, at Rs 390 share. The open offer will be done subsequently after obtaining all regulatory approvals.

The open offer price is 4.1% higher than India Cements share’s closing price of Rs 374.60 apiece last Friday.

Kumar Mangalam Birla, chairman, Aditya Birla Group, said: UltraTech Cement's investments over the years, both organic and inorganic, have been designed to propel India to become a building solutions champion globally.

The India Cements opportunity is an exciting one as it enables UltraTech to serve the Southern markets more effectively and also accelerates our path to 200+ MTPA capacity.

UltraTech Cement is the cement flagship company of the Aditya Birla Group. It is the third largest cement producer in the world, outside of China, with a consolidated Grey Cement capacity of 154.86 MTPA.

The cement major’s consolidated net profit rose marginally to Rs 1,696.59 crore in Q1 FY25 as against Rs 1,688.45 crore in Q1 FY24. Revenue from operations rose 1.87% year on year (YoY) to Rs 18,069.56 crore in the quarter ended 30 June 2024.

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