UltraTech Cement to Acquire Wonder WallCare for INR 235 Crores, Expanding Footprint in Wall Putty Market

UltraTech Cement Limited, one of the leading cement manufacturers in India, has announced the acquisition of Wonder WallCare Private Limited, a subsidiary of Wonder Cement Limited. The Company’s Board of Directors approved the purchase of 100% equity in Wonder WallCare for an enterprise value not exceeding INR 235 crores. The deal is set to be finalized within the next 90 days, pending necessary regulatory approvals and compliances.

This acquisition provides UltraTech Cement with access to a new manufacturing plant located in Rajsamand - Nathdwara, Rajasthan. The facility, with an annual capacity of 6 lac metric tons, specializes in the production of wall putty and related products. Built in 2022-23, the plant is one of the largest single-location putty manufacturing sites in India. It is strategically located near large high-quality raw material reserves, offering UltraTech Cement significant advantages in terms of operational efficiency. The proximity to UltraTech’s existing putty manufacturing units in Rajasthan also enhances logistics and cost-effectiveness.

The newly acquired plant has the capacity for future expansion, enabling UltraTech to increase its production of wall putty and value-added products. This move is expected to strengthen UltraTech’s position in the highly competitive and fragmented putty manufacturing market in India. The acquisition aligns with the Company’s broader strategy of enhancing its product portfolio and expanding its reach in the growing construction sector.

As urbanization accelerates and the real estate sector continues to thrive, demand for construction materials like wall putty is increasing. The acquisition of Wonder WallCare will support UltraTech’s ability to cater to this demand, providing high-quality products that meet the needs of modern construction. Additionally, the move supports the Government of India’s vision of ‘Make in India’ and ‘Atmanirbhar Bharat’, contributing to the nation’s manufacturing and infrastructure growth.

UltraTech’s commitment to expanding its footprint in the Indian construction materials market is reflected in this acquisition. The Company aims to not only enhance its manufacturing capacity but also strengthen its presence in the growing wall putty market, an essential component for the construction of residential and commercial buildings.