Who Owns UltraTech Cement?

UltraTech publishes an annual integrated sustainability report aligned with GRI standards. The company has set targets to reduce its carbon intensity and increase the use of green power. As of FY2026, green power accounted for 43% of UltraTech's energy consumption, including waste heat recovery systems (WHRS) and renewable energy sources.

The company has committed to reducing its Scope 1 and Scope 2 emissions intensity and has invested in waste heat recovery systems across multiple plants. UltraTech has also increased its use of alternative fuels and raw materials in cement manufacturing. The company reports progress against science-based targets but has not claimed full carbon neutrality.

UltraTech's sustainability initiatives include water conservation programs, biodiversity management at mining sites, and plastic waste management through co-processing in cement kilns. The company has faced scrutiny over the environmental impact of limestone mining at its plant locations, which is an inherent challenge for the cement industry. No major regulatory penalties specific to UltraTech have been reported in recent years, though the broader Indian cement sector faces ongoing pressure on emissions and mining practices.

• Dow Jones Sustainability Index (DJSI): UltraTech has been included in the DJSI assessments for corporate sustainability performance in multiple years.
• CII-ITC Sustainability Awards: Recognized for sustainability excellence by the Confederation of Indian Industry.
• Great Place to Work Certification: UltraTech has been certified as a Great Place to Work in India.
• Forbes Global 2000: Consistently ranked among the world's largest public companies.
• National Energy Conservation Awards: Recognized by the Bureau of Energy Efficiency, Government of India, for energy efficiency in cement manufacturing.
• FICCI CSR Awards: Acknowledged for corporate social responsibility initiatives in education and healthcare.

Competition Commission of India (CCI) Investigation: In 2012, the CCI found UltraTech and other major cement companies guilty of collusive pricing and imposed penalties. UltraTech was fined approximately Rs 1,147 crore. The company appealed the order, and the case remained in legal proceedings for several years. In 2018, the Competition Appellate Tribunal (COMPAT) set aside the CCI order against UltraTech, though the matter has seen further appeals.

Binani Cement Acquisition Dispute (2018): UltraTech's acquisition of Binani Cement through an insolvency process was contested by a rival bidder, Dalmia Bharat. The dispute involved allegations of unfair bidding practices. The National Company Law Tribunal eventually approved UltraTech's bid, and the acquisition was completed. The case highlighted the complexities of India's insolvency resolution framework.

Environmental Concerns at Mining Sites: UltraTech's limestone mining operations have faced local opposition at several sites in India, including protests over land acquisition and environmental impact in Gujarat and Rajasthan. These are typical of the cement industry's broader challenges with mining-related disputes. The company has stated it follows statutory environmental clearance processes and implements mine reclamation plans.

Industry-Wide Price Cartel Allegations: The Indian cement industry, including UltraTech, has periodically faced allegations of coordinated price increases. The CCI has investigated the sector multiple times. UltraTech has maintained that its pricing decisions are independent and compliant with competition law.