Highlighting the growing demand in India, UltraTech Cement has stated that the cement demand is expected to cross 640 million tonne per annum (MTPA) by the financial year 2030 (FY30).
The Aditya Birla Group’s firm, in an investor presentation, said that the cement demand is likely to have a compounded annual growth rate (CAGR) of seven to eight per cent between FY24 and FY30.
The company stated that cement demand in the financial year 2024 was 424 MT as compared to 388 MT in FY23. The company has been putting in efforts to increase its grey cement capacity which is expected to have 209.3 MTPA output by the financial year 2027. As far as the current capacity is concerned, it has increased to 182.8 MTPA so far in the ongoing fiscal.
The company is taking the route of acquisitions and brownfield as well as greenfield expansions to expand its capacity, as per the reports. The company has 4,432 UltraTech building solutions outlets, which are aimed at providing one-stop building solutions for the retail customer.
As far as the cables and wires market is concerned, the company has decided to foray into this segment as well with an investment of Rs 1,800 crore over the next two years. The company stated that the cables and wires industry is projected to grow at around 13 per cent over the next five years. It said that the key growth drivers are the increasing share of housing, increasing usage of wires due to higher consumption of white goods, consumer electronics, Growth in urban housing as well as private capex growth.
