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India Cements addresses UltraTech merger speculation

In Q1 of the current FY, India Cements reported an improved EBITDA of Rs 1.63 billion.

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Rupa Gurunath, Whole-Time Director of India Cements, addressed shareholders during the company’s 78th Annual General Meeting (AGM), responding to speculation about a possible merger with UltraTech Cement.

On July 28, 2024, India Cements’ promoters signed a Share Purchase Agreement with UltraTech Cement Ltd, agreeing to sell their equity shares at Rs 390 per share, pending necessary regulatory approvals. UltraTech, part of the Aditya Birla Group, has also initiated an “Open Offer” and is currently awaiting regulatory clearance to finalise the acquisition.

When questioned about the merger, Gurunath stated that she could not disclose specific details but assured shareholders that UltraTech would prioritise employee welfare. “The employees will be taken care of by UltraTech,” she reiterated.

Discussing the company’s recent performance, she highlighted that cost-reduction measures recommended by BCG have successfully lowered variable costs at several plants. “We have already implemented some recommendations, and these initiatives will continue. We are confident that UltraTech will further these efforts,” Gurunath added.

In Q1 of the current fiscal year, India Cements reported an improved EBITDA of Rs 1.63 billion, a significant turnaround from the negative EBITDA of Rs 1.4 billion in the same period last year, despite a 4% drop in clinker and cement sales. However, realisations saw a marginal decline, and the company’s strained working capital and ongoing losses impacted its ability to fully leverage these cost savings.

Despite reduced variable costs and stable realisations, lower sales volumes limited the company’s ability to capitalise on these improvements. Gurunath also clarified that India Cements has not delayed or defaulted on any loan repayments, managing its finances through recovery of advances and sales of non-core assets.

A recent CareEdge report suggested that consolidation in the cement industry, such as the potential UltraTech-India Cements merger, could strengthen pricing power, create cost-reduction synergies, and improve operational efficiency, ultimately enhancing market reach and brand positioning in the long term.

(BusinessLine)

Concrete

Molecor Renews OCS Europe Certification Across Spanish Plants

Certification reinforces commitment to preventing microplastic pollution

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Molecor has renewed its OCS Europe certification for another year across all its production facilities in Spain under the Operation Clean Sweep (OCS) voluntary initiative, reaffirming its commitment to sustainability and environmental protection. The renewal underlines the company’s continued focus on preventing the unintentional release of plastic particles during manufacturing, with particular attention to safeguarding marine ecosystems from microplastic pollution.

All Molecor plants in Spain have been compliant with OCS Europe standards for several years, implementing best practices designed to avoid pellet loss and the release of plastic particles during the production of PVC pipes and fittings. The OCS-based management system enables the company to maintain strict operational controls while aligning with evolving regulatory expectations on microplastic prevention.

The renewed certification also positions Molecor ahead of newly published European regulations. The company’s practices are aligned with Regulation (EU) 2025/2365, recently adopted by the European Parliament, which sets out requirements to prevent pellet loss and reduce microplastic pollution across industrial operations.

Extending its sustainability commitment beyond its own operations, Molecor is actively engaging its wider value chain by informing suppliers and customers of its participation in the OCS programme and encouraging responsible microplastic management practices. Through these efforts, the company contributes directly to the United Nations Sustainable Development Goals, particularly SDG 14 ‘Life below water’, reinforcing its role as a responsible industrial manufacturer committed to environmental stewardship and long-term sustainability.

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Coforge Launches AI-Led Data Cosmos Analytics Platform

New cloud-native platform targets enterprise data modernisation and GenAI adoption

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Coforge Limited has recently announced the launch of Coforge Data Cosmos, an AI-enabled, cloud-native data engineering and advanced analytics platform aimed at helping enterprises convert fragmented data environments into intelligent, high-performance data ecosystems. The platform strengthens Coforge’s technology stack by introducing a foundational innovation layer that supports cloud-native, domain-specific solutions built on reusable blueprints, proprietary IP, accelerators, agentic components and industry-aligned capabilities.

Data Cosmos is designed to address persistent enterprise challenges such as data fragmentation, legacy modernisation, high operational costs, limited self-service analytics, lack of unified governance and the complexity of GenAI adoption. The platform is structured around five technology portfolios—Supernova, Nebula, Hypernova, Pulsar and Quasar—covering the full data transformation lifecycle, from legacy-to-cloud migration and governance to cloud-native data platforms, autonomous DataOps and scaled GenAI orchestration.

To accelerate speed-to-value, Coforge has introduced the Data Cosmos Toolkit, comprising over 55 IPs and accelerators and 38 AI agents powered by the Data Cosmos Engine. The platform also enables Galaxy solutions, which combine industry-specific data models with the core technology stack to deliver tailored solutions across sectors including BFS, insurance, travel, transportation and hospitality, healthcare, public sector and retail.

“With Data Cosmos, we are setting a new benchmark for how enterprises convert data complexity into competitive advantage,” said Deepak Manjarekar, Global Head – Data HBU, Coforge. “Our objective is to provide clients with a fast, adaptive and AI-ready data foundation from day one.”

Supported by a strong ecosystem of cloud and technology partners, Data Cosmos operates across multi-cloud and hybrid environments and is already being deployed in large-scale transformation programmes for global clients.

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India, Sweden Launch Seven Low-Carbon Steel, Cement Projects

Joint studies to cut industrial emissions under LeadIT

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India and Sweden have announced seven joint projects aimed at reducing carbon emissions in the steel and cement sectors, with funding support from India’s Department of Science and Technology and the Swedish Energy Agency.

The initiatives, launched under the LeadIT Industry Transition Partnership, bring together major Indian companies including Tata Steel, JK Cement, Ambuja Cements, Jindal Steel and Power, and Prism Johnson, alongside Swedish technology firms such as Cemvision, Kanthal and Swerim. Leading Indian academic institutions, including IIT Bombay, IIT-ISM Dhanbad, IIT Bhubaneswar and IIT Hyderabad, are also participating.

The projects will undertake pre-pilot feasibility studies on a range of low-carbon technologies. These include the use of hydrogen in steel rotary kilns, recycling steel slag for green cement production, and applying artificial intelligence to optimise concrete mix designs. Other studies will explore converting blast furnace carbon dioxide into carbon monoxide for reuse and assessing electric heating solutions for steelmaking.

India’s steel sector currently accounts for about 10–12 per cent of the country’s carbon emissions, while cement contributes nearly 6 per cent. Globally, heavy industry is responsible for roughly one-quarter of greenhouse gas emissions and consumes around one-third of total energy.

The collaboration aims to develop scalable, low-carbon industrial technologies that can support India’s net-zero emissions target by 2070. As part of the programme, Tata Steel and Cemvision will examine methods to convert steel slag into construction materials, creating a circular value chain for industrial byproducts.

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