UltraTech Cement prepays long-term loans of Rs 5,000 crore
AV Birla group firm UltraTech Cement on Wednesday said it has prepaid its long-term loans of Rs 5,000 crore.
In a regulatory filing to the stock exchanges, UltraTech Cement said the loan repayment has been done through free cash flows generated over the last few quarters despite the pandemic.
“The company last week prepaid its long-term loans amounting to Rs 5,000 crore,” it said. The cement major added that this is in line with its endeavour to maintain an optimal capital structure.
Shares of UltraTech Cement on Wednesday ended marginally lower at Rs 6,737.30 — a drop of 0.78 per cent or Rs 52.95 over the previous close on the BSE.
UltraTech Cement reported a revenue of Rs 40,649.17 crore in 2019-20 and is the largest manufacturer of grey cement, ready mix concrete and white cement in India.