Cement News tagged under: Sanghi Industries
Sanghi Industries announces changes at the top11 December 2023, Published under Cement NewsIndia-based Sanghi Industries Ltd has announced a number of resignations from its board of directors. Ravi Sanghi tendered his resignation as chairman and managing director, with effect from 7 December 2023. Also resigning from the company are executive directors, Aditya Sanghi, Alok Sanghi, Bina Mahesh Engineer, Nirubha Balubha Gohil, along with the following independent directors: Sundaram Balasubramanian, Raina Dilip Desai, Arvind Motilal Agarwal and Gurudeo Yadwadkar. With effect from t... |
Adani Cement acquires Sanghi Industries in west coast expansion06 December 2023, Published under Cement NewsAdani Cement Ltd has secured a 54.51 per cent stake in Sanghi Industries and will look to harness operational synergies from this acquisition, according to the company. The primary objectives for the acquisition include boosting efficiency, minimising costs, and fostering a sustainable approach to cement production. Sanghi Industries’ expansive Sanghipuram integrated manufacturing plant spans 2700ha, making it India's largest single-location cement and clinker production facility. The... |
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... |
Sanghi Industries reports loss of income in June quarter15 August 2023, Published under Cement NewsSanghi Industries Ltd has posted total income of INR1702m (US$20.46m) in the quarter ended 30 June 2023. This compares to INR2270m in the previous quarter and INR3448.5m in the same quarter in 2022. The company has reported a loss of INR1894.3m in the April-June 2023 quarter, compared to an INR328.7m loss in the same period in the previous year. Expenses over the same timeframe have declined slightly from INR3887.8m to INR3596.3m, with power and fuel costs falling from INR1928.6m in 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... |
Mukul Agarwal raises stake in Sanghi Industries03 January 2023, Published under Cement NewsInvestor Mukul Agarwal has increased his stake in Sanghi Industries from 1.34 per cent in the September 2022 quarter to 1.97 per cent in the December quarter, reports The Economic Times. According to 5paisa, Mukual Agrawal’s investment style is “largely aggressive, hawking for multibaggers that are capable of astronomical returns.” His investment portfolio includes IMFL (Indian Made Foreign Liquor Co), PDS Multinationals (a leading consumer goods design, product development, sourcing, v... |
Sanghi Industries sees profit decline YoY in the September 2022 quarter16 November 2022, Published under Cement NewsIndia’s Sanghi Industries Ltd has posted revenue from operations of INR2298m (US$28.3m) in the quarter ended 30 September 2022, down from INR3391m in the previous quarter but up from INR2113m in the same period a year earlier. Profit over the same period has fallen from a gain of INR44.5m in the September 2021 quarter to a loss of INR328m in the quarter ended June 2022 and a further loss of INR443m in the quarter ended 30 September 2022. Basic earnings per share over the same timeframe dro... |
Sanghi Industries signs MoU for plant expansion04 January 2019, Published under Cement NewsIndia’s Sanghi Industries Ltd has announced plans to expand its existing cement plant in Sanghipuram, Kutch, to 8.6Mta from 4Mta. The project is expected to be completed at an investment of INR15bn (US$214.78m) and generate employment for around 350 people. The company's Chairman and Managing Director, Ravi Sanghi, has signed a Memorandum of Understanding with the Principal Secretary of Industries and Mines, M K Das, to advance the project. The project is likely to commence by 2020, accor... |