Aditya Birla group- owned UltraTech Cements is stepping up efforts to monetise non-core assets at India Cements, aiming to unlock value and strengthen balance sheet discipline following its acquisition of the company. The focus is primarily on surplus land parcels, which could generate at least ₹500 crore, according to senior management.
Addressing analysts, Atul Daga, Chief Financial Officer, UltraTech Cements, said the company is in discussions with potential buyers for a few large land parcels owned by India Cements. “There are a couple of big land parcels that we are currently discussing with buyers. We expect a minimum generation of around ₹500 crore from these assets,” he noted.
However, UltraTech is proceeding cautiously and is evaluating legal implications before finalising any transaction. Daga explained that certain assets of India Cements are currently under attachment due to an ongoing Enforcement Directorate (ED) case, including a property in Hyderabad and some financial securities. “We are seeking legal opinion on the implications of the case and the attached assets. Based on that clarity, we will take a decision on the next steps,” he said.
The company has already made progress on asset monetisation, having completed the sale of India Cements’ coal mining subsidiary in Indonesia. The proceeds from this divestment have been realised and have helped keep debt levels under control.
Alongside asset monetisation, UltraTech is executing a brand transition exercise at India Cements, which had crossed 58% completion by the end of December 2025. The company is also driving operational efficiencies through a cost-improvement capex programme, committing ₹601 crore, of which ₹144 crore has been spent so far.
The combined focus on non-core asset monetisation, brand integration, and cost optimisation underlines UltraTech’s strategy to unlock value from India Cements while maintaining financial discipline and improving long-term profitability.