Aditya Birla Group forays into wires and cables business
Aditya Birla Group is entering the wires and cables market under the brand name 'Ultravolt' with an investment of ₹1,800 crore. The company aims to become a top-two player in the sector within five years by leveraging India's urbanization and electrification trends.
Why it matters
This expansion marks a significant diversification for the conglomerate into the infrastructure and construction materials sector.
Aditya Birla Group has announced it’s entry into wires and cables business under the brand Ultravolt.
This makes the group’s fourth new business foray in three years which includes paints, jewellery and a B2B e commerce platform called Birla Pivot.
With an investment of ₹1,800 crore, Ultravolt will be the second largest player in the wires segment by capacity, the company said.
Housed under UltraTech Cement Ltd , the business aims to build a scaled national brand and become one of the top two players within 5 years.
Kumar Mangalam Birla, Chairman, Aditya Birla Group said, “Wires and cables are becoming central to India’s next phase of development. They sit at the intersection of three mega trends in the Indian economy – urbanization, electrification and digitization.”
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