Cement News tagged under: Ambuja Cements

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ACL announces new 4Mta plant in Jharkhand

23 February 2024, Published under Cement News

India’s Ambuja Cements Ltd (ACL) is investing INR10,000m (US$120.6m) in a new 4Mta grinding plant in Jharkhand’s Godda district, reports The Hindu. According to ACL, the new unit will be located close to Adani Power (Jharkhand) Ltd and forms part of the company’s plans to dispose of fly ash in an environmentally safe way, contributing to a circular economy. ACL currently operates two cement plants in Jharkhand with a combined production capacity of 6Mta. 

Ambuja Cements reports jump in profits YoY

31 January 2024, Published under Cement News

Ambuja Cements Ltd has reported total income of INR45,477.3m (US$547.7m) in the three months ended 31 December 2023, up from INR42,043.7m in the same period a year earlier. Profit after tax came in at INR5136.8m in the December 2023 quarter, versus INR3689.9m in the comparable period in 2022. Total expenses over the same period expanded from INR36,793.2m to INR38,673m, while basic earnings per share increased from INR1.86 in the quarter ended 31 December 2022 to INR2.59 in the same peri...

Ambuja Cements to invest INR14bn in 6Mta Telangana plant

18 January 2024, Published under Cement News

Ambuja Cements will invest INR14bn (US$168.3m) in the construction of a 6Mta cement plant in Telangana, India. The plant will be built on a 70-acre plot, said the company in a regulatory filing. Ambuja Cements is part of the Adani Cement Industries and operates 36.5Mta of cement capacity installed in 16 cement plants across India.

Ambuja Cements appoints new CHRO

20 December 2023, Published under Cement News

Ambuja Cements has appointed Manoj Kumar Sharma as its new chief human resources officer (CHRO), effective from November this year. In his new position, Mr Sharma will be responsible for succession planning, HR transformation, leadership development, HR strategy, executive coaching, and talent management.   He joins Ambuja from Adani Electricity where he held the role of senior executive vice president of Human Resources. He has also previously worked at Adani Green Energy, Adani Po...

Ambuja Cements announces green power investment

18 December 2023, Published under Cement News

Ambuja Cements has announced plans to invest INR60,000m (US$723m) in renewable energy, resulting in green power accounting for 60 per cent of its energy requirements. According to the company, 1000MW of solar and wind power projects are planned, including a 600MW solar power project and a 150MW wind project in Gujarat, along with a 250MW solar power project in Rajasthan. This will be achieved by FY25-26 in addition to the company’s existing 84MW of solar and wind power.  Ambuja is also ...

Ambuja Cement reports quadrupling 2Q profit

02 November 2023, Published under Cement News

Ambuja 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 package

26 October 2023, Published under Cement News

Adani 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 expansion

05 September 2023, Published under Cement News

The 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 expansion

31 August 2023, Published under Cement News

Adani 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 set

23 August 2023, Published under Cement News

Andani 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...