Mumbai, Feb. 27 -- The company's board approved the venture, aligning with its strategy to become a comprehensive building solutions provider. UltraTech intends to leverage its manufacturing expertise and customer relationships to deliver high-quality wires and cables.

A new plant, expected to be commissioned near Bharuch, Gujarat, by December 2026, will serve the growing demand across residential, commercial, infrastructure, and industrial sectors.

The wires and cables industry has experienced a robust revenue CAGR of around 13% between FY19 and FY24, driven by the shift from the unorganized to the organized market. UltraTech believes this entry will be value accretive to its shareholders.

Kumar Mangalam Birla, Chairman, Aditya Birla ...