UltraTech Cement plans to invest 18 billion rupees ($206 million) in a new wires and cables business. This expansion will strengthen the company’s presence in the construction materials sector.
The new business will operate under UltraTech’s building products division, which already offers waterproofing products, TMT steel bars, and electrical components. The investment will be spread over two years, with the goal of establishing a manufacturing plant by December 2026.
UltraTech aims to capitalize on the sector’s growth potential, which has seen a 13% compound annual growth rate between fiscal 2019-2024. However, the industry faces challenges such as volatile copper prices and intense competition from local players.
The infrastructure and construction industries, key clients for wires and cables makers, are expected to experience a slowdown in 2025 due to modest budget allocations. Meanwhile, the cement industry has seen a surge in consolidation, with major players like UltraTech and Adani Group acquiring smaller firms to expand their market presence.
