Cement News tagged under: Ambuja Cements
Ambuja Cement reports quadrupling 2Q profit02 November 2023, Published under Cement NewsAmbuja Cements , part of Adani Cement Industries , saw profit quadruple in the 2QFY23-24 to INR6440m (US$77.4m) from INR1390m in the year-ago quarter. The company’s revenue advanced eight per cent YoY to INR39,700m in the 2QFY23-24 while cement and clinker sales volumes advance seven per cent to 7.6Mt. Ambuja Cements saw its expenses decline by two per cent YoY with fuel costs down by nearly a third. As a result, EBITDA improved by nearly 150 per cent to INR7740m and the EBITDA margin ... |
Adani Cement completes refinancing package26 October 2023, Published under Cement NewsAdani Cement , through Endeavour Trade and Investment Ltd, announced the successful completion of its refinancing programme for acquisition debt taken for Ambuja Cements and ACC Ltd , through a US$3500m financing package, raised from a clutch of international banks. This showcases Adani's robust access to the global financial market and strong liquidity position, says the company. “This achievement reflects our commitment to financial stability and growth. This facility will res... |
Adani Cements plans green capacity expansion05 September 2023, Published under Cement NewsThe new capacity additions for Adani Cements would be only for manufacturing of green cement, as it looks to double the production of the commodity to about 140Mta by FY27-28. The two Adani Group cement companies, ACC and Ambuja Cements, would only add capacities through the organic route, which would be mainly funded through internal accruals. Green cement is manufactured by reusing industrial wastes, such as slag and fly ash and energy efficiency modes, which reduces carbon emissions. Ind... |
Adani Cements will not require external loans for capex expansion31 August 2023, Published under Cement NewsAdani Cements is looking to rely on operating cash flows and internal accruals to fund its INR460,000m (US$5.5bn) expansion capex over the next five years, without the need for external borrowings. The cement arm of the Adani Group, comprising ACC Ltd and Ambuja Cements , has set an ambitious target to achieve a production capacity of 140Mta by FY28, from the current 67.5Mta. “With the funds available from the cement operations, there is no need to resort to external borrowings for t... |
Ambuja Cement's open offer for Sanghi Industries date set23 August 2023, Published under Cement NewsAndani group-owned Ambuja Cements ' open offer to acquire 26 per cent equity from the public shareholders of Gujarat-based cement maker Sanghi Industries would commence from 29 September, according to a company document. Ambuja Cements Ltd (ACL) would buy 26 per cent equity shares of INR10 (US$0.12) each of Sanghi Industries from its public shareholders for a price of INR114,220m (US$1375) a piece. The offer would be worth up to INR767,160m, according to a Draft Letter of Offer. The... |
Adani Group updates expansion plans following SIL acquisition04 August 2023, Published under Cement NewsThe Adani Group has provided an update on its plans following the announcement of its acquisition of a majority stake in Sanghi Industries Ltd (SIL). According to The Telegraph, the group plans to expand the captive port capacity of Sanghipuram to accommodate vessels of 8000dwt. Sanghi Cement runs a 6.1Mta plant at Sanghipuram which is connected to a captive jetty at Sanghipuram. The plan is to depend and expand the port’s capacity to handle larger vessels, along with the creation of bulk ... |
Ambuja Cements to acquire Sanghi Industries02 August 2023, Published under Cement NewsAmbuja Cements , part of the Adani Group , has agreed to acquire a majority stake in Sanghi Industries , reports Reuters News. According to sources close to the transaction, the deal is expected to be officially announced today. Sanghi Industries is one of the leading cement producers in the Indian state of Gujarat and currently runs 6.1Mta of cement production capacity. The exact share of the stake and the value of the deal is not yet known. In the quarter ended 30 June 2023, Ambu... |
Adani Group rebuilds investor confidence27 June 2023, Published under Cement NewsThe Adani Group, which owns Ambuja Cements and ACC Ltd , is reportedly targeting 20 per cent YoY growth in pretax profits to INR900,000m (US$10,971m) within the next 2-3 years. According to Live Mint, the growth is expected to come from various sectors, including cement, airports, energy, logistics and power. The group has recently repaid loans amounting to US$2.65bn as part of a prepayment programme to reduce overall leverage and regain investor confidence following a negative report by ... |
Ambuja Cements and ACC scoop sustainability awards26 June 2023, Published under Cement NewsAmbuja Cements and ACC , part of the Adani Group , have been recognised among ‘India's Top 50 Most Sustainable Companies’ by BW Businessworld. Ambuja Cements has also been named among ‘India’s Top 3 Most Sustainable Companies in the Infrastructure and Engineering Sector’ on the back of its “dedication to sustainability and outstanding success”, according to the company. Ajay Kapur, CEO, cement business, said, “We are immensely proud that both Ambuja and ACC have been recognised among... |
Adani Group in talks to refinance loan14 June 2023, Published under Cement NewsIndia's Adani Group is in talks with lenders to refinance up to US$3.8bn of a loan facility taken for its acquisition of Ambuja Cements Ltd last year, according to Bloomberg News. The group is reportedly deciding whether to convert the original loan into debt with a longer maturity period. Although the deal is yet to be finalised, Bloomberg News says the group is expected to conclude the process within four months with most of its existing lenders, including Barclays Plc, Deutsche Ba... |