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The company has planned capex of ₹1,200 crore in FY24, ₹2,200 crore in FY25, and ₹1,800 crore in FY26. At the end of December 2023, its gross debt stood at ₹4,585 crore, and this is expected to peak at ₹5,600 crore by FY26.
The new trucks will ease the transport of clinker from UltraTech's integrated cement manufacturing unit Dhar Cement Works, located in Madhya Pradesh, to its grinding unit Dhule Cement Works, located in Maharashtra.
InCred downgraded SBI Card to reduce from ADD earlier and has also slashed the target price to Rs 600 from Rs 1000 earlier.
Total sales volume in the domestic market was up 15.37 per cent to 25.66 MT during the quarter under review. It was 22.24 MT in Q2/FY23. Its grey cement production in the domestic market was at 25.24 MT in September quarter FY24, reporting 15.46 per cent growth, while its white cement production was 0.42 MT, up 10.52 per cent.
In a separate regulatory filing, Ultratech Cement announced the commissioning of 1.2 mtpa brownfield cement capacity at Magdalla, Gujarat, taking the unit's capacity to 1.93 mtpa.