UltraTech Cement prepays long-term loan of Rs 5,000 crore loan | Business Standard News

Clipped from: https://www.business-standard.com/article/companies/ultratech-cement-prepays-long-term-loan-of-rs-5-000-crore-loan-121033001039_1.html

UltraTech Cement on Tuesday said it has prepaid its long-term loans of Rs 5,000 crore

UltraTech Cement on Tuesday said it has prepaid its long-term loans of Rs 5,000 crore.

The loan repayment has been done through free cash flows that the company has generated over the last few quarters despite the pandemic, the Aditya Birla Group firm said in a statement.

However, the company did not share the deadline by which the long-term loans were to be prepaid.

We are pleased to inform you that the company, during the last week, has prepaid its long-term loans amounting to Rs 5,000 crore, said UltraTech.

This is in line with the company’s endeavour to maintain optimal capital structure, it added.

The loan repayments have been done through free cash flows that the company has generated over the last few quarters despite the challenging circumstances and severe business interruptions during the first quarter of the current fiscal year, it added.

UltraTech Cement reported a revenue of Rs 40,649.17 crore in 2019-20 and is the largest manufacturer of grey cement, ready mix concrete (RMC) and white cement in India.

With a consolidated capacity of 116.8 million tonne per annum (MTPA), it is the third-largest cement producer in the world, excluding China.

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