Kumar Mangalam Birla

The latest round of expansion will reinforce UltraTech's position as the third largest cement company in the world, outside of China, Kumar Mangalam Birla said.

“A strong digital ecosystem, fiscal and monetary policy and various government schemes helped small and medium enterprises and the worst affected sections of the population to survive while reviving demand and bringing the economy back on track," said the industrialist while addressing shareholders of UltraTech.

World Economic Forum, Davos: In an interview with CNBC TV18, Kumar Mangalam Birla said that he wanted to switch from being a builder who works in the trenches to an architect whose job is envisioning and “making sure all right levers are in place”.

"It would have been nice to have clinched the Holcim deal," added Birla, who was in the race to acquire the Swiss cement maker's India business along with rivals Adani Group and JSW Group.

The highly-advanced plant will have an initial capacity to produce 600 kilo tonnes of finished aluminum goods per year.

The company owned by billionaire Kumar Mangalam Birla will invest the amount mainly across its businesses in India and North America.

Chairman of the Aditya Birla Group wrote that only intellect can be a sustainable moat in the world of ‘cheap capital’

Speaking at the India Mobile Congress event, Kumar Mangalam Birla promised that Vodafone Idea Ltd (VIL) will be a "committed partner" as India makes rapid strides to achieve the vision of a trillion-dollar digital economy.

In his address, Mukesh Ambani said, "our industry can take legitimate pride in the fact that we have democratized the Mobile and Digital Revolution in India."

Speaking at India Mobile Congress event, Birla asserted that a robust industry is necessary to invest and accelerate the achievement of Digital India vision.

The investment is expected to be from Birla’s private family office, the report stated.

Addressing shareholders at the Aditya Birla Fashion and Retail’s 14th Annual General Meeting, Chairman Kumar Mangalam Birla talked about the company’s performance in a year that was riddled with challenges, initiatives towards debt management, cost-saving measures and push for digital.

Kumar Mangalam Birla, while covering an array of subjects in his speech, stressed on Hindalco's "outstanding financial performance" in FY21, and the highest-ever quarterly net profits recorded in Q1 of FY22.

KM Birla highlighted the recent acquisitions and investments made by the company, while stressing on the impressive net revenue and EBITDA recorded in the first quarter of FY2022. Read the full text of his address to the shareholders of UltraTech Cement.

The financial health of India's number three phone operator -- Vodafone Idea Ltd -- is a concern for its lenders after the Supreme Court last month rejected its petition to reassess back dues to the government.

The list, which is first of its kind, was released on Thursday by Indiaspora, a US-based diaspora body, with guidance from nine jurors and drawing from multiple sources, including reputed studies, earlier verified lists and publicly shared documents.

Takkar, in his communication, has urged employees to continue to remain focused on providing quality services to customers, sustain intensity in the market to win and deliver on goals.

Sources tell Moneycontrol that the top team of Aditya Birla Group took this decision last week in New Delhi to protect the interests of the group entities and make it immune to any risks due to its exposure to Vodafone Idea. 

Larger banks may not have to worry much because as a percentage of their books, the exposure is not very high. Also, most banks had started preparing for the potential default by providing for likely losses from VI.

The board has unanimously elected current Non-Executive Director Himanshu Kapania as the Non-Executive Chairman of the company.