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Nuvoco Vistas Corp Wins Bid for Vadraj Cement

The estimated target date for the commencement of production is around Q3 FY27.

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Cement maker Nuvoco Vistas announced that it has emerged as the successful applicant for Vadraj Cement, which is currently undergoing a corporate insolvency resolution process. The resolution plan submitted by Nuvoco has been approved by the Committee of Creditors (CoC), and a Letter of Intent (LOI) has been issued, according to a statement by Nuvoco Vistas Corp.

Although the financial details were not disclosed, the company mentioned that the transaction would be implemented by Vanya Corporation, a wholly-owned subsidiary, and the company plans to fund the transaction without significantly increasing its consolidated debt levels.

Nuvoco further stated that a phased investment would be spread over 15 months for the refurbishment of assets and to drive operational improvements across Vadraj Cement (VCL) plants. The estimated target date for the commencement of production is around Q3 FY27, subject to approvals from the National Company Law Tribunal (NCLT) for the resolution plan. VCL’s existing facilities include a 3.5 MMTPA clinker unit in Kutch, Gujarat, and a 6 MMTPA grinding unit in Surat, Gujarat.

In addition, VCL owns high-quality limestone reserves, ensuring a sustainable supply of raw materials for future production. The captive jetty in Kutch also enhances logistical efficiency.

With this transaction, Nuvoco’s total cement production capacity is set to increase to approximately 31 MMTPA—19 MMTPA in the east, 6 MMTPA in the north, and 6 MMTPA in the west—strengthening its position as the fifth-largest cement group in India for the long term.

Nuvoco Vistas Corp’s Managing Director, Jayakumar Krishnaswamy, commented that the deal consolidates their position as the fifth-largest player in the Indian cement industry and further strengthens their market dominance. He also added that the deal complements their existing operations by expanding their geographic reach and operational capabilities, which will enhance their portfolio, diversify their offerings, and enable them to provide greater value and superior service to their customers in a competitive business landscape.

Nuvoco stated that once the transaction is completed, it is expected to create substantial synergies with its existing manufacturing facilities in Nimbol and Chittorgarh, Rajasthan, leading to enhanced operational efficiency. This will help optimise logistics, streamline operations, improve competitiveness, and provide better market access and a strengthened supply chain across key regions.

In February of the previous year, the NCLT admitted the insolvency process of Vadraj Cement after Punjab National Bank (PNB) filed a plea over a default of over Rs 870.45 million. Media reports indicated that Adani Group, JSW Cement, and ArcelorMittal were competing to acquire VCL, which had a total debt of Rs 70 billion owed to several lenders, including Union Bank of India, Central Bank of India, Indian Overseas Bank, Bank of India, Bank of Baroda, and PNB.

Earlier in August 2018, the Bombay High Court had ordered the winding-up of Vadraj Cement following a case filed by trade creditor Beumer Technologies India. However, the court later recalled the order and transferred the matter to the NCLT bench.

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Star Cement launches ‘Star Smart Building Solutions’

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Star Cement has launched ‘Star Smart Building Solutions,’ a new initiative aimed at promoting sustainable construction practices, as per a recent news report. This venture introduces a range of eco-friendly products, including tile adhesives, tile cleaners and grouts, designed to enhance durability and reduce environmental impact. The company plans to expand this portfolio with additional value-added products in the near future. By focusing on sustainable materials and innovative building solutions, Star Cement aims to contribute to environmentally responsible construction and meet the evolving needs of modern infrastructure development.

Image source:https://www.starcement.co.in/

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Nuvoco Vistas reports record quarterly EBITDA

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Nuvoco Vistas reported its highest-ever quarterly consolidated EBITDA of Rs.556 crore in Q4 FY25, with annual EBITDA at Rs.1,391 crore. Cement sales reached 19.4 MMT in FY25, with Q4 contributing 5.7 MMT. Revenue rose 4 per cent YoY to Rs.3,042 crore in Q4. Net debt reduced by Rs.390 crore to Rs.3,640 crore. The company received NCLT approval for acquiring Vadraj Cement, targeting 31 MMTPA capacity by FY27. Key marketing initiatives, expanding RMX and MBM businesses, and a focus on sustainability (457 kg CO2/tonne) drove performance. Nuvoco remains focused on premiumisation, operational efficiency, and market expansion.

Image source:nuvoco.com

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UltraTech Cement increases capacity by 1.4Mt/yr

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UltraTech Cement has expanded its production capacity by 1.4 million tonnes per annum (Mt/yr) through a combination of debottlenecking efforts and operational efficiency upgrades across several of its plants. The enhancements include an addition of 0.6Mt/yr in grinding capacity at the Nagpur facility in Maharashtra and a combined 0.8Mt/yr at the Panipat and Jhajjar units in Haryana. With these upgrades, the company’s total domestic grey cement capacity has risen to 184.8Mt/yr, while its global capacity now stands at 190.2Mt/yr.

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