UltraTech Cement Names K.C. Jhanwar Non-Executive Vice Chairman
UltraTech Cement has revealed a shift in its board leadership, as managing director K.C. Jhanwar will transition to non-executive vice chairman starting January 1, 2027, after K.K. Maheshwari's decision to step down from the role.
The changes were approved by the company’s board during a meeting on October 19. Maheshwari will resign from his positions as non-executive vice chairman and non-executive director starting January 1, 2027, due to his ongoing commitments and other personal obligations.
Jhanwar’s tenure as managing director will end on December 31, 2026. Following the suggestion of the company's Nomination, Remuneration and Compensation Committee, the board sanctioned his change of role to non-executive vice chairman effective the next day.
Jhanwar has been the managing director of UltraTech Cement since January 2020. As a chartered accountant, he entered the Aditya Birla Group in 1981 as a management trainee in the cement sector.
Throughout his career, he has occupied senior leadership positions across finance, operations, and general management within the cement and chemicals industries.
He has experience in executing large-scale projects, manufacturing, commercial strategy, mergers and acquisitions, and post-merger integration.
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In his letter to the board, Maheshwari characterized his relationship with UltraTech as a rewarding experience defined by strategic efforts and value generation. He expressed gratitude to the chairman, fellow directors, and management for their assistance throughout his time in the role.
The leadership change occurs as UltraTech maintains its hold on India's cement sector, with branding becoming a crucial element of its approach. In its FY27 first-quarter earnings call, the firm announced that it had finalized the transition of the India Cements and Kesoram Cement brands to UltraTech, substituting the acquired brands with its main identity. It noted that the shift had allowed UltraTech’s main brand to increase by 21.3 percent annually, while maintaining its market share.
Ultratech mentioned that cement continues to be a retail-driven industry in India, where consumer confidence can bolster premium pricing even in the face of fierce competition. The firm estimates that approximately two-thirds of its home cement sales originate from retail clients, highlighting the importance of brand strength and distribution in its competitive strategy.
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The brand consolidation further leverages UltraTech’s extensive distribution network, comprising approximately 76 manufacturing sites, close to 2,000 storage facilities, and over 150,000 channel partners. By consolidating acquired companies under the UltraTech brand, the organization aims to enhance its premium identity and streamline its market presence while growing throughout India.
Furthermore, UltraTech Cement Ltd has initiated 116.55 MW of wind power at its ISTS-connected hybrid wind-solar project located in Barmer, Rajasthan. The firm additionally ordered 10 MW of Waste Heat Recovery System (WHRS) capacity at the Sarlanagar Cement Works in Karnataka. These updates have brought the total installed green energy capacity of the company to 2,024 MW. The milestone establishes UltraTech as the first cement firm in India to launch over 2 GW of green energy capacity for its own use.
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UltraTech plans to boost the proportion of green energy in its overall power mix to 85 percent by 2030. As an RE100 member, the organization has pledged to obtain 100 percent of its electricity needs from renewable sources by 2050. UltraTech possesses a total grey cement capacity of 210.1 MTPA, along with a capacity of 3.5 MTPA for white cement and putty.