Aditya Birla Ultra Tech

UltraTech Cement announced an interim dividend of Rs 70 per share

Aditya Birla group firm UltraTech Cement Ltd on Wednesday said it has acquired the cement grinding assets of Burnpur Cement Ltd in Jharkhand for Rs 169.79 crore. The company has acquired 0.54 mtpa cement grinding assets of Burnpur Cement Ltd, located at Patratu in Jharkhand, UltraTech Cement said in a regulatory filing. "The acquisition has been carried out at a consideration of Rs 169.79 crore in terms of the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 read with the Security Interest (Enforcement) Rules, 2002," it added. This investment marks the company's entry in Jharkhand, the filing said, adding the company's capacity in India now stands at 133 mtpa. Last year state-owned Punjab National Bank (PNB) had put up for sale the account of loss-making Burnpur Cement and invited bids from Asset Reconstruction Companies (ARCs) to recover loans outstanding of over Rs 50 crore.

The revenue from operations for Q2FY24 came in at Rs 16,012.13 crore, compared to Rs 13,892.69 crore year-on-year

The profit before interest, depreciation and tax was Rs 3,223 crore, compared to Rs 3,204 crore year-on-year (YoY)

Companies including Mahindra & Mahindra, Aditya Birla Group, JSW Group, Adani Transmission, Vedanta, and Dalmia Cement have set decarbonisation goals to achieve carbon neutrality by 2050

There was no transparency over how the bids were evaluated and why the UltraTech bid was rejected, said source