India Cements Announces Management Reshuffle Post UltraTech Buyout
Cement

India Cements Announces Management Reshuffle Post UltraTech Buyout

India Cements, now majority-owned by UltraTech Cement following a landmark acquisition, has restructured its top management roles in marketing and HR. The changes were finalised at a board meeting on January 3, 2025, and disclosed to the BSE. The company stated, “The Board of Directors has approved the recommendation of the Nomination and Remuneration Committee for the appointment of the following officials as Senior Management Personnel, effective January 1, 2025.” R. Parthasarathy, formerly Chief Marketing Officer, has been appointed as Head – Integration (Sales and Marketing). A seasoned professional with experience at RAK Ceramics, Asian Paints, and Roca Bathroom Products (formerly Parryware Roca), Parthasarathy is an alumnus of the Indian Institute of Management, Calcutta. He joined India Cements in August 2021. Other key appointments include: • Rajesh Sankar as Head – Integration (Manufacturing). Sankar, a chemical engineer with a master’s in environmental science, brings extensive manufacturing expertise. • Prakash Pattanshetty as Head – Sales and Marketing. With over 30 years of experience, Pattanshetty is a civil engineer and postgraduate in sales and marketing. • G. Ramesh as Vice President – Personnel. • Ravikrishna Iyer as Group Head – Human Resources.

On July 28, 2024, UltraTech Cement, part of the Aditya Birla Group, announced the purchase of a 32.72% stake in India Cements for Rs 39.54 billion at Rs 390 per share. This followed a 22.7% stake acquisition in June 2024, bringing UltraTech’s total shareholding in India Cements to 55.49%. UltraTech Cement sought approval from the Competition Commission of India (CCI) for the acquisition, arguing that India Cements was incurring significant losses and the buyout could help revive the "failing firm." This realignment marks a strategic shift for India Cements as it integrates operations under UltraTech Cement’s ownership while focusing on revamping its sales, marketing, and HR strategies. (Storyboard18)

India Cements, now majority-owned by UltraTech Cement following a landmark acquisition, has restructured its top management roles in marketing and HR. The changes were finalised at a board meeting on January 3, 2025, and disclosed to the BSE. The company stated, “The Board of Directors has approved the recommendation of the Nomination and Remuneration Committee for the appointment of the following officials as Senior Management Personnel, effective January 1, 2025.” R. Parthasarathy, formerly Chief Marketing Officer, has been appointed as Head – Integration (Sales and Marketing). A seasoned professional with experience at RAK Ceramics, Asian Paints, and Roca Bathroom Products (formerly Parryware Roca), Parthasarathy is an alumnus of the Indian Institute of Management, Calcutta. He joined India Cements in August 2021. Other key appointments include: • Rajesh Sankar as Head – Integration (Manufacturing). Sankar, a chemical engineer with a master’s in environmental science, brings extensive manufacturing expertise. • Prakash Pattanshetty as Head – Sales and Marketing. With over 30 years of experience, Pattanshetty is a civil engineer and postgraduate in sales and marketing. • G. Ramesh as Vice President – Personnel. • Ravikrishna Iyer as Group Head – Human Resources. On July 28, 2024, UltraTech Cement, part of the Aditya Birla Group, announced the purchase of a 32.72% stake in India Cements for Rs 39.54 billion at Rs 390 per share. This followed a 22.7% stake acquisition in June 2024, bringing UltraTech’s total shareholding in India Cements to 55.49%. UltraTech Cement sought approval from the Competition Commission of India (CCI) for the acquisition, arguing that India Cements was incurring significant losses and the buyout could help revive the failing firm. This realignment marks a strategic shift for India Cements as it integrates operations under UltraTech Cement’s ownership while focusing on revamping its sales, marketing, and HR strategies. (Storyboard18)

Next Story
Real Estate

Mahindra Lifespaces Bags Rs 12.5 billion Redevelopment in Mulund

Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been appointed as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project will be developed across a 3.08-acre land parcel, with an estimated development value of approximately Rs 12.5 billion. Strategically located, the site enjoys proximity to major connectivity points—just 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. It also offers seamless access to the Eastern Expre..

Next Story
Infrastructure Urban

Snowman Adds Warehouses in Kolkata and Krishnapatnam

Snowman Logistics, India’s leading integrated temperature-controlled logistics company, has announced the commencement of operations at its two new state-of-the-art, owned cold storage facilities in Kolkata and Krishnapatnam. With these additions, the company’s total pallet capacity has reached 1,50,754, spanning 43 warehouses in 20 cities across the country. The newly operational Kolkata facility offers a storage capacity of 5,630 pallets, while the Krishnapatnam facility holds 3,927 pallets. These warehouses are equipped with advanced automation and infrastructure designed to enhanc..

Next Story
Resources

Noesis Enables IHCL Hotel Deal in Udupi–Manipal Corridor

NOESIS Capital Advisors, India’s leading hotel investment advisory firm, has successfully facilitated a landmark hospitality transaction in the Udupi–Manipal region of Karnataka. The deal involves the acquisition of a nearly completed, 130-key upscale hotel that will operate under one of the premium brands of IHCL, reinforcing NOESIS’ position as a preferred partner for strategic hospitality transactions across India. Strategically located on the Udupi–Manipal Highway, the 1.03-acre property will cater to business travellers, pilgrims and families visiting Manipal University. With..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?