Aditya Birla Group has launched its wires and cables business, Ultravolt, backed by an investment of Rs 1,800 crore, marking the group’s fourth new business foray in three years. The business aims to build a scaled national brand and become one of the top two players in the segment within five years. At launch, Ultravolt will be the second-largest player in the wires segment by capacity.
Speaking at the launch, Aditya Birla Group chairman Kumar Mangalam Birla said the wires and cables market has the structural tailwinds needed to support the emergence of a “large new challenger”, with urbanisation, electrification and digitisation set to reshape demand.
