Ambuja Cements, a key player in the cement and building materials industry and a part of the diversified Adani Portfolio, has inked a definitive agreement to acquire My Home Group’s 1.5 MTPA Cement Grinding Unit in Tuticorin, Tamil Nadu. The acquisition, valued at Rs. 413.75 Crores and funded through internal accruals, marks a strategic move […]
The cement industry is bracing for a decline in demand during the fourth quarter of the fiscal year, compared to the same period last year. Several factors including a slowdown in construction activities, extended winter conditions, and uncertainty surrounding upcoming elections are anticipated to contribute to this downturn. Market analysts have projected a decrease in […]
The cement industry, spurred by rising demand in infrastructure and housing, is set for a significant capacity expansion, aiming to add 150-160 million tonne (MT) from FY25 to FY28, according to a report by Crisil Ratings. Over the past five fiscal years, the industry has already augmented its capacity by 119 MT annually, reaching a […]
UltraTech Cement has disclosed its decision to acquire a 26 per cent stake in Amplus Ages by investing Rs 49 crore. Amplus Ages is actively involved in the generation and transmission of renewable energy. The Aditya Birla Group firm formalised the agreement through a share subscription and shareholders’ agreement, according to the regulatory filing. The […]
Ambuja Cements, owned by the Adani Group, has reported a significant four-fold increase in its standalone net profit, reaching Rs 643.84 crore for the quarter ending in September 2023. This marks a notable surge compared to the net profit of Rs 138.9 crore in the same quarter of the previous year. The company’s standalone revenue […]
Ambuja Cements Ltd (ACL), the cement and building material company of Adani Cement and part of the diversified Adani Group on Thursday announced the acquisition of Sanghi Industries Ltd (SIL) at an enterprise value of Rs 5,000 crore. ACL will acquire 56.74 per cent shares of SIL from its existing promoter group, Ravi Sanghi and […]
Adani Group-owned company ACC’s net profits (profit after tax) more than doubled (rose 105 per cent) on a yearly basis during the April-June 2023 quarter at Rs 466 crore. In the same quarter last year, the net profits were Rs 227 crore. The company’s net revenue during the quarter rose 16 per cent to Rs […]
