UltraTech Cement Enters Wires & Cables, Acquires Kesoram

UltraTech Cement, the flagship firm of Aditya Birla Group, has ventured into the wires and cables segment with ₹1,800 crore investment. It will set up the manufacturing plant in Bharuch, Gujarat, which will be up and running by December 2026. Anuj Poddar, Executive Director of UltraTech, commented, “We are aggregating our building solutions portfolio to grow in core segments where we already have a competitive advantage to cater to growing infrastructure needs across our country.”

UltraTech on February 25 also announced the share swap ratio for acquiring Kesoram Industries. As per the agreement, the shareholders of Kesoram Industries will get 1 UltraTech Cement share for every 52 shares they hold. The scheme is effective from March 1, 2025, and the transaction has a record date of March 10.

The company’s vision of reinforcing its position across the construction value chain was underlined by its chairman Kumar Mangalam Birla. “The cables and wires segment is a natural extension for us and is in line with our commitment to offer end-to-end solutions for the construction industry.” We continue to focus on expanding our core cement business, wherein we recently crossed 175 mtpa of cement capacity in India,” he said. Birla also elaborated on UltraTech’s goal of becoming the largest cement player in the world in terms of sales volume, barring China.

Ultratech targets the increased demand for wire and cable across residential, commercial, infrastructure, and industrial segments. The sector has grown at a revenue CAGR of ~13% in FY19-FY24, due to the increasing transition from an unorganized to an organized market. This trend offers an attractive opportunity for UltraTech to position itself as a reliable player in the sector.

UltraTech’s acquisition of Kesoram Industries will further strengthen its market position, especially in southern India such as Kesoram’s flagship assets. The acquisition will provide UltraTech access to building material establishments and fortify its existence as a manufacturer within India’s building materials and a consolidated Indian industry.