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UltraTech Cement, an Aditya Birla group company, has raised ₹1,000 crore through a private placement of unsecured redeemable non-convertible debenture.
The little less than three-year NCD will carry a coupon of 4.57 per cent per annum. While the company pays interest every year, the principal will be repaid in December, 2023, said the company in a statement on Tuesday. It will be listed on NSE.
UltraTech is one of the few companies that has announced expansion plan of ₹5,477 crore to add 12.8 million tonnes per annum of fresh capacity in the east, central and north regions by the financial year 2022-23.
Upon completion of the latest round of expansion, the company’s capacity will grow to 136.25 mtpa, reinforcing its position as the third-largest cement company in the world, outside of China.
The company’s consolidated debt was down marginally in September quarter at ₹22,556 crore against ₹22,898 crore logged in March quarter.
The company is already setting up a 3.5 million tonne per annum cement plant at Pali in Rajasthan with an investment of ₹1,850 crore. , The company is also into brownfield expansion of 6.7 mtpa in Uttar Pradesh, Odisha, Bihar and West Bengal expected to get commissioned by next fiscal.
UltraTech Cement net profit more than doubled to ₹1,235 crore in September quarter against ₹579 crore logged in the same period last year on better realisation and higher output.
Revenue from operations was up at ₹10,354 crore (₹9,615 crore).
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