After announcing entry into the decorative paints business (through Grasim Industries), the Aditya Birla Group is now entering into the wires and cables business through UltraTech Cements.
- The initiative will further extend group’s footprint in the construction value chain.
- UltraTech will undertake the new business through it’s Building Products Division.
- The plant will be set up near Bharuch in Gujarat and is expected to be commissioned by December 2026
- The expected capex is Rs 1,800 crore
As per the Company, “the wires and cables industry has witnessed a revenue CAGR of around 13% between FY19 to FY24 and with the migration from the unorganised to the organized market, the outlook continues to remain robust which provides an attractive opportunity for a new trusted player in the sector”.
The subject announcement will surely make the investors cautious on the existing players in the business; Polycab, KEI, RR Kabel, Finolex, Havells etc.