Page 4 - Ambuja Cement

Adani infuses Rs 8,339 crore in Ambuja Cements, raises stake to 70.3%

Billionaire Gautam Adani's family infused an additional Rs 8,339 crore in Ambuja Cements, raising its stake in the company to 70.3 per cent, to help the cement maker's manufacturing capacity. The Adani family previously invested Rs 5,000 crore in the company on October 18, 2022, and Rs 6,661 crore on March 28, 2024. With the latest investment, it has completed Rs 20,000 crore planned infusion, the company said in a statement. "The promoters of the company - Adani family - has fully subscribed to the warrants program in the company by further infusing Rs 8,339 crore, thereby infusing a total amount of Rs 20,000 crore," it said. The latest infusion raises the Adani family stake in Ambuja Cement by 3.6 per cent to 70.3 per cent. In all, its holding in Ambuja Cement has increased from 63.2 per cent to 70.3 per cent. The fund infusion will help Ambuja accelerate its growth ambitions to almost double its existing capacity to 140 million tonnes per annum by 2028 from 76.1 million tonnes

Ambuja to acquire My Home Group's grinding unit in TN for Rs 413.75 cr

Ambuja Cements on Monday said it will acquire My Home Group's cement grinding unit at Tuticorin in Tamil Nadu for a total value of Rs 413.75 crore. The company -- a part of the Adani Group -- has signed a definitive agreement to acquire the cement grinding unit of the My Home Group, which has a capacity of 1.5 MTPA, Ambuja Cements said in a statement. "The acquisition estimated at a total value of Rs 413.75 crore through internal accruals will aid in enhancing the coastal footprint across southern markets of Tamil Nadu and Kerala," it added. The total cement capacity of Adani Group stands at 78.9 MTPA, the company said. "In addition to the infrastructure and geographical advantages, Ambuja Cements will also inherit the existing dealer network and retain current employees, facilitating a smooth transition and enabling the rapid ramp-up of utilisation," Ajay Kapur, CEO, Cement Business, Adani Group, said. The grinding unit is spread across 61 acres near the Tuticorin Port with a ..

Adani Group targets one-fifth share in Indian cement market by FY28

Gautam Adani-led Adani group, which owns Ambuja Cements and ACC Ltd, is targeting to capture around one-fifth of the Indian cement market by FY28. Adani Cement business will implement its accelerated capex program through internal accruals and the business will continue to "remain debt free," said an investor presentation shared by Ambuja Cements. Besides, Adani Cement also amplifies the pace of capacity expansion and is expected to have an accelerated growth rate of 16 per cent to reach 140 MTPA (million tonnes per annum) by FY2028. "Adani Cement market share targeted to be 20 per cent by FY'28 from current 14 per cent," the Adani group firm said. Presently, Adani Cement is the second leading company in the sector after the Aditya Birla group firm UltraTech Cements. Ambuja, with its subsidiaries ACC Ltd, has the capacity to produce 77.4 million tonnes of cement annually from 18 integrated cement manufacturing plants and 18 cement grinding units across the country. It had recently

Adani Group seeks $750 mn from banks to pay for conversion of warrants

As of March, Adani family had reportedly made an initial payment of Rs 6,661 crore for the conversion of warrants allocated by Ambuja Cements

Adani family infuses Rs 6,661 cr in Ambuja Cements, raises stake to 66.7%

The board of Ambuja Cements has approved the conversion of 21.20 crore warrants into shares of promoter entity Harmonia Trade and Investment at the rate of Rs 314.15 per share

Broader mkt weakness, slow capex to halt rally in cement shares: Analysts

Shares of JK Cement, Dalmia Bharat, Ambuja Cement, and ACC, for instance, have lost in the range of 5 per cent to 8 per cent during the period, ACE Equity data shows

Cement sales growth in Q3 subdued at 3-4%, say industry executives

Industry executives attributed the impact on demand to a host of factors, including floods in South India, construction bans in the National Capital Region, and fiscal challenges in Bihar, Jharkhand

Ambuja Cements Q3 results: Consolidated net profit up 89.5% at Rs 823 cr

Reported profit after tax for the company was at Rs 1,090 crore, up 123 per cent from a year ago

Adani Group's Ambuja Cements profit misses estimates on lower volumes

Ambuja's consolidated volumes increased 2.9% to 14.1 million metric tons in the October-December period, lower than the 5.5% growth estimated by Jefferies

Cement shares zoom up to 5%; UltraTech joins Rs 3 trillion market cap-club

Nomura estimates margins to expand on stronger volume growth, pricing discipline and relatively lower fuel cost

Ambuja Cements to set up renewable energy unit for Rs 6,000 crore

Company to set up a 1,000 Mw renewable power unit; investment to encompass projects in Gujarat, Rajasthan

Post Adani takeover, ACC-Ambuja Cement Ebitda rises to Rs 1,350/tonne

After Adani Group taking over ACC and Ambuja Cement, the EBITDA has risen to Rs 1,350 per tonne from Rs 350 and the group is looking to scale it up to Rs 1,400 by 2024, sources said. In a move to broaden its business verticals, Adani Group last year acquired Ambuja Cement Ltd and ACC Ltd. Ambuja Cement has a cement capacity of 31 million tonne per annum with 6 integrated cement manufacturing plants and 8 cement grinding units across the country. ACC has a cement capacity of 34.45 million tonne with 17 cement manufacturing units, 85 ready-mix concrete plants. The acquisition placed Adani in direct competition with Ultratech Cement, India's largest cement manufacturer. And Adani Group is now planning to double the annual cement making capacity by 2027. Since taking over in September 2022, the EBITDA per tonne of cement has increased from Rs 350 to Rs 1,350, company sources said adding this will be scaled up to Rs 1,400 per tonne by 2024. The current EBITDA margin is about 20 per cent

68 companies blaze a trail, capturing 56% of India's market; PSUs take lead

FORTUNE'S FAVOURED FEW: Sixty-eight companies blaze a trail, capturing 56% of India's market; PSUs take the lead

Adani Group completes acquisition of Sanghi Industries, revises offer price

Billionaire Gautam Adani-owned Ambuja Cements Ltd on Tuesday announced the completion of the acquisition of Sanghi Industries Limited (SIL), at a revised offer price of Rs 121.90 per share. Earlier in August this year, Ambuja Cements Ltd (ACL) had offered a price of Rs 114.22 apiece for acquiring 26 per cent equity shares of Rs 10 each of Sanghi Industries from its public shareholders. "In terms of the company's obligations under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ('Takeover Regulations'), the offer price as defined in the PA shall stand revised to Rs 121.90," Ambuja Cements said in a regulatory filing. Meanwhile, shares of Sanghi Industries were trading at Rs 129.90 during the afternoon on Tuesday, which is 6.56 per cent higher than the revised offer price. ACL in a separate statement informed that it "successfully completes acquisition of Sanghi Industries, funded entirely through internal accruals" at an enterprise value of Rs 5,185 ...

Stocks to Watch: Tata Steel, Hero Moto, Britannia, GAIL, JK Tyre, Ambuja

Stocks to watch on November 2, 2023: Two-wheeler manufacturer Hero Moto's consolidated net profit rose 47.6 per cent YoY to Rs 1,007 crore in the September quarter

Ambuja Cements Q2 results: Net profit rises seven-fold to Rs 793 crore

In Q2FY24, Ambuja Cement's net profit (attributable to the owners of the company) was at Rs 793 crore, seven times higher than Rs 93 crore reported a year ago

Ambuja Cement Q2 result: Standalone net profit jumps 363% YoY to Rs 643 cr

The revenue from operations for Q2FY24 came in at Rs 3,969.79 crore, compared to Rs 3,675.61 crore year-on-year

Adani Group refinances $3.5 bn debt taken for ACC-Ambuja acquisition

The refinancing programme was concluded with 10 international banks with a debt maturity of up to 3 years

Adani Group closes in on $3.5 billion loan to refinance existing debt

The deal, which would be among the top 10 biggest loans in Asia this year, could be sealed this week, according to people familiar with the matter

Adani's $3.5 bn Ambuja loan moves ahead after some banks get approval

The three banks are Barclays Plc, Deutsche Bank AG and Standard Chartered Plc