UltraTech Cement's NCD Issuance, Profit Drop

28 Nov 2024 CW Team

UltraTech Cement Ltd. has approved issuing ?1,000 crore in unsecured redeemable non-convertible debentures (NCDs) through private placement. The NCDs, with a 10-year tenor and an interest rate of 7.22%, will mature on November 24, 2034, and be listed on the National Stock Exchange (NSE).

The company’s financial performance in Q2 FY25 revealed a 36% drop in net profit to ?825 crore from ?1,280 crore in the corresponding period last year. Revenue stood at ?15,635 crore, marking a 2% decline year-on-year. Additionally, EBITDA fell by 21% to ?2,019 crore from ?2,550 crore in Q2 FY24, while the operating margin shrank by 300 basis points, landing at 12.9% compared to 15.9% the previous year.

These results underscore the challenges in maintaining profitability amidst fluctuating market conditions, even as UltraTech seeks to leverage strategic financial instruments like NCDs to support long-term growth.

Infrastructure Transport

09 Sep 2025

Gurugram Metro Phase-1 Construction to Begin on September 5

Construction work on the much-awaited Gurugram Metro is set to commence on September 5 with a groundbreaking ceremony in Sector 44, opposite the GMDA office. Union housing and urban affairs minister Manohar Lal Khattar and Haryana chief minister Naib Singh Saini will jointly perform the Bhoomi Pujan.The first phase of the project includes building a 15.22 km elevated viaduct, 15 stations, a 1.85 km spur to the Dwarka Expressway, and a ramp to the proposed depot in Sector 33. The contract, valued at Rs 12.77 billion plus GST, has been awarded to a joint venture.Preparations for the ceremony wer..

Zaakpay, CRUT Launch WhatsApp-Based Bus Ticketing in Odisha

Zaakpay, a wholly owned subsidiary of One MobiKwik Systems, has partnered with Capital Region Urban Transport (CRUT), a public transit agency under the ONDC Network, to roll out a chat-based bus ticketing service across Odisha.The initiative is designed to simplify and digitise public transport for over 24 million annual commuters, covering nearly 36 million rides across the state. By leveraging a WhatsApp-based interface, the service offers commuters a seamless and contactless way to book tickets, making it accessible to both rural and urban passengers.The platform has been developed with PeL..

Maharashtra Govt Releases Rs 1.43 Bn for MUTP-III Works

The Maharashtra government has released Rs 1.43 billion to the Mumbai Railway Vikas Corporation (MRVC) to carry out works under the Mumbai Urban Transport Project (MUTP)-III, aimed at reducing congestion on the city’s suburban railway network.According to a government resolution (GR) issued by the Urban Development Department, Rs 1.24 billion of the sanctioned amount has been provided as additional central assistance from the Asian Infrastructure Investment Bank (AIIB). The loan is being routed to MRVC through the Mumbai Metropolitan Region Development Authority (MMRDA).The state clarified t..