India Cements Announces Management Reshuffle Post UltraTech Buyout

09 Jan 2025 CW Team

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)

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