Cement News tagged under: Ambuja Cement
Adani group acquires Orient Cement22 October 2024, Published under Cement NewsAmbuja Cements , part of the Adani Group , has agreed to acquire Orient Cement Ltd at the equity value of INR81bn (US$963.4m). This binding agreement set Ambuja to acquire a 46.8 per cent stake in Orient Cement. This acquisition will add 16.6Mta capacity, accelerating Ambuja’s journey to an operational capacity of over 100Mta in FY24-25. The target capacity of the group is 140Mta by 2028. This acquisition will provide an additional capacity of 6Mta in north India, leveraging Orient Cemen... |
Ambuja Cements announces record results02 May 2024, Published under Cement NewsAmbuja Cements , part of the Adani Group , has reported record-breaking financial results for the 4QFY23-24 as well as the full year, ended 31 March 2024. According to the company, the strong performance has been driven by improved KPIs in all operational parameters. The 4QFY23-24 saw consolidated sales volumes of cement and clinker of 16.6Mt, compared to 14.1Mt in the same period a year earlier. Consolidated revenue came in at INR88,940m (US$1.065bn), versus INR79,660m in the comparab... |
Ambuja Cement to add 1GW of renewable energy22 December 2023, Published under Cement NewsAmbuja Cement ( Adani Group ) has announced a plan to add 1GW of solar and wind generation capacity. The company will invest INR60bn (US$72m) in solar and wind projects in two Indian states. The line-up of renewables includes a 600MW solar PV project and a 150MW wind project in Gujarat, as well as a 250MW solar PV project in Rajasthan. Ambuja Cement said the addition of solar and wind generation capacity will be achieved by the FY25-26 while the company reach 200MW of renewable capacity... |
Ambuja Cement reports revenue of US$4746m29 June 2023, Published under Cement NewsAmbuja Cement , part of the Adani Group , has reported revenue from operations of INR389,370m (US$4746m) in FY22-23. EBITDA came in at INR58,600m, with an EBITDA margin of 15 per cent, while profit before tax stood at INR37,290m. The company has changed its financial year end so these latest results cover 1 January 2022 to 31 March 2023, a total of 15 months, so are therefore not comparable with the figures for the 12 months ended 31 December 2021. Profit after tax was reported as INR3... |
Adani Group in talks with more lenders over acquisition loan21 June 2023, Published under Cement NewsThe Adani Group is reportedly in talks with at least five new international banks regarding its refinancing of US$3.8bn of loans taken for its acquisition of ACC Limited and Ambuja Cement in 2022. According to The Economic Times, the majority of the group’s existing lenders, including Standard Chartered, Barclays and Deutsche Bank, will also participate in the refinancing round. The group has reportedly begun discussions with two Taiwanese banks and a Malaysian bank among others to exp... |
Ambuja Cement reports 8% growth in March quarter03 May 2023, Published under Cement NewsAmbuja Cement has reported standalone net revenue of INR42,560m (US$520.1m) in the quarter ended 31 March 2023, up from INR39,270m in the same quarter a year earlier, marking 8.4 per cent YoY growth. This growth comes despite the adverse impact on volumes of halting operations at the company’s Himachal Pradesh plants for 50 days during the three-month period. EBITDA over the same period advanced from INR8250m to INR9620m, while the EBITDA margin has improved from 21 to 22.6 per cent. P... |
Gautam Adani sells off stake in Ambuja Cements13 March 2023, Published under Cement NewsGautam Adani is reportedly looking to sell a 4-5 per cent share in Ambuja Cements for around US$450m, according to the Financial Times. The move is designed to help lower debt levels and restore investor confidence in his conglomerate. This follows a report by US-based Hindenburg Research in late January 2023 alleging fraud and stock market manipulation by the Adani Group, which wiped US$145bn off the market value of the conglomerate’s listed companies. If the sale goes ahead, it will... |
Adani Cement launches Geoclean waste management solution13 December 2022, Published under Cement NewsAdani Cement has launched its new waste management initiative, Geoclean, to reduce emissions from its cement production processes. Built on the foundation of sustainability and circular economy, Geoclean offers innovative waste management solutions to the agricultural, industrial and public/municipal sectors. Through the co-processing of waste from these sectors, Geoclean ensures the recovery of energy and recycling of materials, leaving zero residues, reports India CSR. “We are committ... |
Holcim closes sale of India business16 September 2022, Published under Cement NewsHolcim has closed the sale of its business in India to the Adani Group. The deal includes Holcim’s stake in Ambuja Cement at a share price of INR385 (US$4.82) and in ACC at a share price of INR2300, resulting in cash proceeds for Holcim of US$6.4bn, according to Dow Jones. Holcim held a 63.11 per cent stake in Ambuja Cement, which owns 50.05 per cent of ACC, along with a 4.48 per cent direct stake in ACC. Jan Jenisch, CEO, Holcim, said, “I would like to thank our 10,700 Indian coll... |
Adani plans management shake-up following takeover12 September 2022, Published under Cement NewsGautam Adani, his son Karan and his nephew Pranav, are expected to join the management boards of ACC Ltd and Ambuja Cements . As part of an overhaul of the top management of both companies, following their takeover by the Adani Group , some existing members of the boards are expected to step down, including the following board members at Ambuja Cements: N S Sekhsaria, chairman, Jan Jenisch, vice chairman, Neeraj Akhoury, managing director and CEO, and Martin Kriegner, director – one sour... |