Mumbai, July 29: UltraTech Cement Ltd — an AV Birla group firm — will spend an additional Rs 5,600 crore to expand capacity by 9 million tonnes.
The company already has a capital expenditure plan of around Rs 2,600 crore, which will be spent over the next three years to augment its grinding capacity in Gujarat and set up packaging terminals.
At a board meeting today, the company directors approved the additional capex to set up clinker plants in Chhattisgarh and Karnataka.
The companys net profit for the first quarter ended June 30 has come down to Rs 243 crore from Rs 418 crore in the corresponding year-ago period.
Net sales fell to Rs 1,790 crore from Rs 1,953 crore a year ago.