It is the largest manufacturer of grey cement, ready-mix concrete (RMC) and white cement in India and 5th largest around the globe with an installed capacity of 152.70 million tonnes per annum and 119 million tonnes per annum sales volume.

At the time, L&T was the largest cement manufacturer in India, while Grasim was the third-largest.

[8] In 2003, L&T announced that it would demerge the cement business into a company called UltraTech CemCo.

As part of the demerger plan, Grasim agreed to acquire an 8.5% stake in UltraTech CemCo from L&T, make an open offer to acquire another 30%, and transfer its 15% stake in L&T (residual engineering company) to L&T Employees Welfare Foundation.

[16][17] Dec 2023 - Acquired Cement grinding assets of Burnpur Cement Ltd. From Punjab National Bank's Asset Reconstruction Company's auction for cash consideration of ₹169.79 crore (US$20 million).