UltraTech Cement to Acquire Wonder WallCare for ₹235 Crore, Expands Footprint in Wall Putty Market

Aditya Birla Group Company UltraTech Cement Ltd on Monday said it would acquire 100 percent equity in Wonder WallCare Pvt Ltd for an enterprise value (EV) of up to ₹235 crore. The move is in line with UltraTech’s strategy of fortifying its position in the white cement and wall putty segment.

UltraTech’s board has approved the acquisition, which will be made through a Share Purchase Agreement with Wonder WallCare’s current shareholders. The deal is expected to close within 90 days, subject to regulatory approvals and compliance requirements.

The agreement will see UltraTech buying 6.42 crore equity shares of ₹10 each. Wonder WallCare’s modern manufacturing facility located at Rajsamand-Nathdwara within the state of Rajasthan is a highlight of the acquisition. The plant, which was completed in 2022-23, has an annual capacity of 6 lakh metric tonnes (MT) for wall putty and allied products, making it one of the largest single-location putty plants in the country.

The strategic location of the plant is adjacent to large reserves of high-quality raw material and the existing foothold of UltraTech’s facilities at the location ensures potential for future expansion along with optimised logistics and sourcing. The acquisition will substantially increase UltraTech’s capacity in the value-added products division, especially in the crowded and fragmented wall putty segment.

Such diversification and expansion are also part of a long-term vision to expand beyond traditional core cement product offerings, in line with its long-term construction material growth strategy and ensuring a competitive product mix in the UltraTech portfolio, the company said.

Shares of UltraTech Cement kicked up on the Bombay Stock Exchange (BSE) after the announcement, soaring on the bourse and rounding off the day’s trade at ₹11,583.65 — climbing ₹328.25 or 2.92% over the last trading session — and confirming investor excitement over the acquisition decision.

Besides enhancing UltraTech’s market leadership with scale, sophisticated infrastructure and wider geographic synergy in the growing wall care segment, the deal is expected to strengthen the company’s market leadership.