UltraTech Cement has launched a Rs 1,500 crore capital expenditure plan over the next two years to revamp India Cements, following its acquisition in December 2024.

The investment aims to enhance operational efficiency and profitability, with Rs 1,000 crore allocated specifically for waste heat recovery systems (WHRS) and other margin-boosting upgrades. These enhancements are expected to start yielding returns by the January-March quarter of FY27, with an estimated payback period of under three years.

As per UltraTech, India Cements surpassed one million tonne in volume in March 2025, and further positive pricing trends in southern markets since April have further strengthened prospects for margin expansion. In addition to the capex plan, UltraTech is assessing brownfield expansion opportunities within India Cements' network.