Cement
Adani Group to invest Rs 3,500 cr in 2 projects in Madhya Pradesh
The Adani Group will invest `3,500 crore in Madhya Pradesh to establish a cement grinding unit in Guna and a propellant production plant in Shivpuri. These projects are expected to create over 3,500 jobs. The conglomerate has already invested more than `18,000 crore across various sectors in the state.
Ultratech Cement raises $500 million through sustainability-linked financing
UltraTech Cement secured $500 million through a sustainability-linked loan, with contributions from six banks, according to a stock exchange filing by the company. This deal represents UltraTech's second foray into sustainability-linked financing, following its first sustainability-linked bond issuance in 2021.
Why this Adani bull is raising its bet on Ambuja Cements
Ambuja Cements, owned by Adani Group, saw an investment boost from GQG Partners, increasing their stake to 2.04%. Shares rose 4% following the deal. The Adani Group plans to raise Rs 30,000 crore by selling shares in its listed firms. Adani is aggressively expanding its cement business to challenge market leader UltraTech.
Adani entity sells 2.76% in Ambuja Cement for Rs 4,251 crore
Billionaire Gautam Adani's entity, Holderind Investments, sold 2.76% stake in Ambuja Cements for Rs 4,251 crore through an open market transaction. GQG Partners purchased shares worth '1,679 crore, increasing its stake from 1.35% to 2.04%. SBI Life Insurance and NPS Trust were among other buyers. Adani Group plans to raise '30,000 crore by selling shares in listed firms to rebalance its $126 billion portfolio.
Indian cement makers to invest Rs 1.25 lakh cr in 2 years to meet growing demand
The Indian cement industry is planning a capital expenditure of around Rs 1.25 lakh crore for FY25 to FY27 to meet increasing demand, according to a report by CRISIL. This will add 130 million tonnes of cement grinding capacity. The sector’s credit profiles are expected to remain stable due to low capex intensity and strong balance sheets. Major players such as UltraTech and Adani Group are leading the expansion. The top five cement manufacturers held around 54 per cent of the market share in FY24, indicating significant consolidation in the industry.
Capacity expansion not a number game, says UltraTech chairman Kumar Birla
“We are leveraging this expanded manufacturing footprint to reduce our operational costs, particularly logistics costs and improve customer service by reducing lead time and leveraging our strong nation-wide distribution network,” Birla told shareholders at the company’s annual general meeting on Wednesday.
Major cement companies report volume growth in June qtr, revenue remains muted due to lower price
Major cement companies in India reported slight volume growth in the June quarter amid falling prices and higher raw material costs. UltraTech, Ambuja Cements, and ACC saw increased sales and capacity utilization. Nonetheless, overall revenue growth was limited, and construction activities slowed due to intense heatwaves and elections, hurting profits.
UltraTech Cement's open offer for ICL to open on September 19
UltraTech Cement announced a Rs 3,142 crore open offer to gain a 26% stake in India Cements Ltd, scheduled from September 19 to October 3. This followed a prior acquisition, boosting their stake to 55.49%. The purchase aimed to enhance UltraTech's footprint in the competitive southern Indian cement market, especially in Tamil Nadu.
Rise in construction activities to propel India's cement demand by 7-8% in FY25: UltraTech
UltraTech Cement anticipates a 7-8% growth in cement demand this financial year, driven by increased construction activities. The industry was set to add 35-40 million tonnes of capacity, mostly in the eastern and southern regions. This demand surge expected to raise the capacity utilization to 72% in FY25 from 68% in FY23.
IPL: India Cements' sports unit to join team Chennai Super Kings
The sports division and staff of India Cements have been incorporated into Chennai Super Kings Cricket Ltd (CSKCL) following UltraTech Cement's acquisition of N Srinivasan's stake in India Cements. Rupa Gurunath, his daughter, is set to join CSKCL's board, focusing on expansion and possibly a Women’s Premier League team.
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Adani Cement to set up unit in Bihar for investment for Rs 1,600 crore
Ambuja Cements, owned by Adani Cement, planned to invest Rs 1,600 crore in Bihar's Nawada district for a cement grinding unit. As their maiden and largest investment in the state, the project will span three phases. The first phase is projected to cost Rs 1,100 crore and be completed by December 2025. The unit will enhance local employment and revenue, contributing to Bihar's development. Additionally, another cement unit is in the pipeline for Muzaffarpur. Chief Minister Nitish Kumar acknowledged the investment as a positive indicator of Bihar's growth potential.
Adani-owned Ambuja Cement announces Rs 1600 crore project in Bihar
Adani Cement revealed plans for a new cement grinding unit in Warisaliganj, Bihar, with an investment of ₹1,600 crore. The 6 million tonnes per annum facility is expected to enhance production capacity, boost local employment, and meet the state's infrastructure demands, while aligning with the company's sustainable development goals.
'No frenzy in cement industry, structured expansion taking place'
Adani Cement, led by CEO Ajay Kapur, is expanding in a structured manner, targeting acquisitions below $80 per tonne. The integration of recently acquired Penna Cement is nearly complete. Adani Cement plans to achieve a production capacity of 140 million tonnes by 2028, while benefiting from the Penna acquisition this quarter.
Ambuja Cement added 275 million tonne in limestone reserves during Apr-Jun quarter
Ambuja Cements reported significant growth in the April-June quarter, adding 275 million tonnes in limestone reserves. The company highlighted achievements in cost leadership, efficiency, and growth, supported by innovations and a focus on ESG. CEO Ajay Kapur announced the anticipated expansion of cement capacity to 140 MTPA by FY'28. Ambuja's net worth rose to Rs 59,465 crore, remaining debt-free. With green power initiatives and major expansions underway, the company is set for further growth, including the acquisition of Penna Cement Industries.
JSW joins the race to buy CK Birla’s flagship Orient Cement
Stock has rallied 56% in 3 months, can help to ramp up capacity to 24 MTPA. Adani, Ultratech both has been in negotiations to take over company. JSW can reverse merge it's cement operations and get listed .
India Cements buy to bolster UltraTech's hold over South
UltraTech Cement's acquisition of a controlling stake in India Cements, based in Chennai, aims to solidify its leading position in the highly competitive cement sector and delay the Adani Group's efforts to close the gap in the short to medium term. This move occurs as organic expansion has become costly and time-consuming.
