UltraTech Cement Expands into Wires & Cables, Acquires Kesoram Industries
UltraTech Cement is diversifying into the wires and cables segment with a ₹1,800 crore investment to set up a plant in Bharuch, Gujarat, set for completion by December 2026. This move strengthens its construction solutions portfolio, tapping into an industry that grew at 13% CAGR (FY19-FY24).
Additionally, UltraTech announced a 1:52 share swap for acquiring Kesoram Industries, effective March 1, 2025, with a record date of March 10. The deal enhances its southern India presence, adding strategic assets to its growing footprint.
Chairman Kumar Mangalam Birla reaffirmed UltraTech’s cement leadership, having surpassed 175 MTPA capacity in India, while this expansion unlocks new revenue streams and higher market share in organized construction materials.