The company has executed a share purchase agreement with the existing shareholders of Wonder WallCare.
The deal is expected to close in the next 90 days, subject to applicable regulatory approvals and compliances.
Wonder WallCare is engaged in the manufacturing of wall putty and related products. It had recorded a turnover of Rs 78.61 crore in FY24.
This acquisition gives UltraTech, access to a new 6 lac MT per annum manufacturing plant for wall putty and related products at Rajsamand - Nathdwara, Rajasthan. The plant is situated at the pithead of large high quality raw material reserves, and in close proximity to the company’s existing putty manufacturing facilities in Rajasthan.
Constructed in 2022-23, this plant is one of the largest single location putty manufacturing sites in India, with a capability to ramp up its capacities in future.
"This acquisition will help the company expand its putty and value-added products’ production capacity, in the highly competitive and fragmented putty manufacturing market in India," UltraTech Cement said in a statement.
UltraTech, an Aditya Birla group entity, is the market leader in Indian cement industry with 177.7 MPTA grey cement capacity as on 1 March 2025 with pan-India presence.
On a consolidated basis, net profit of UltraTech Cement declined 17.30% to Rs 1469.51 crore while net sales rose 2.71% to Rs 17193.33 crore in Q3 December 2024 over Q3 December 2023.
The scrip shed 0.52% to currently trade at Rs 11547.50 on the BSE.