Ambuja Cements Empowers Rural Youth with EV Assembly Training at SEDI Bhatapara

• Ambuja Cements introduces Electric Vehicle Assembly Operator Trade at its Skill and Entrepreneurship Development Institute (SEDI) in Bhatapara, Chhattisgarh.
• Initiative aligns with green energy goals and builds on Ambuja Cements’ legacy of impactful skill development in the region.

Ambuja Cements, the cement and building material company of the diversified Adani Portfolio, has launched a new Electric Vehicle (EV) Assembly Operator Trade at its Skill and Entrepreneurship Development Institute (SEDI) in Bhatapara, Chhattisgarh. The initiative, driven by Ambuja Cements’ CSR arm aims to prepare rural youth for the fast-evolving electric mobility sector—equipping them with future-ready skills that align with the growing demand for green transportation across the nation.

A state-of-the-art EV lab has been set up at SEDI Bhatapara, offering hands-on training on electric rickshaws, scooters, cars, battery systems, and motor controls. Building on earlier skilling efforts in the region—such as training over 700+ local youth in trades like welding and tailoring—this new-age program reflects the company’s ongoing commitment to empowering communities with livelihood opportunities that are both relevant and sustainable.

The initiative not only opens up promising employment avenues for trainees but also inspires them to be part of the country’s clean energy transition. By introducing this green technology skilling programme, Ambuja Cements continues to foster inclusive growth while helping young individuals from underserved backgrounds drive positive change—for themselves, and towards a greener future.

Ambuja Cements Completed Acquisition of Orient Cement

Ambuja Cements, the cement and building material company of the diversified Adani Portfolio, would like to inform that the company has completed the acquisition of 9,58,73,163 equity shares constituting 46.66% of the existing share capital of OCL pursuant to the SPAs.

The Company will undertake necessary actions in compliance with its obligations under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 in relation to the Open Offer.

As per the disclosure made by OCL dated April 13, 2025, OCL has allotted 3,49,976 fully paid-up equity shares of Re. 1/- each, pursuant to exercise of employee stock options under the Orient Cement Limited Employees Stock Option Scheme 2015.

Consequently, the paid-up share capital of OCL has increased from Rs. 20,51,09,897 divided into 20,51,09,897 equity shares having face value of Re.1/- each to Rs. 20,54,59,873 divided into 20,54,59,873 equity shares having face value of Rs. 1/- each.

Ambuja Cements has thus completed the acquisition of 9,58,73,163 equity shares constituting 46.66% of the existing share capital of OCL pursuant to the SPAs. 

Adani Group Merges Sanghi Industries and Penna Cement with Ambuja Cements

The Adani Group recently announced a significant merger in the cement sector. Ambuja Cements, a part of the Adani Group, will be merging its subsidiaries Sanghi Industries Limited (SIL) and Penna Cement Industries Limited (PCIL)with itself. This move is aimed at consolidating their cement business and enhancing overall efficiency and competitiveness.

The merger aims to enhance working capital management, pool resources for faster expansion, and achieve cost savings in administration and governance.

For Sanghi Industries, shareholders will receive 12 equity shares of Ambuja Cements for every 100 shares held in SIL. For Penna Cement, shareholders will receive Rs 321.50 for each fully paid-up equity share of Rs 10 held in the transferor company.

This merger will help Ambuja Cements increase its cement production capacity significantly. The Adani Group aims to achieve a cement manufacturing capacity of 140 million tonnes per annum (MTPA) by 2028, and this merger is expected to help reach that target ahead of schedule.

Further, the merger will enhance working capital management, unified cash flow management, and cost savings in administration and governance are expected outcomes.

This consolidation is part of a series of strategic acquisitions by Ambuja Cements, including the acquisition of Sanghi Industries and Penna Cement Industries earlier this year.

The Adani Group entered the cement sector in September 2022 by acquiring controlling stakes in Ambuja Cement from Holcim for USD 6.4 billion (approximately Rs 51,000 crore).

Ambuja Cements Commissions 200 MW Solar Power in Khavda, Unlocking 70% Savings in Power Cost

• 200 MW Solar Power Project in Khavda to supply green power to 20 cement plants.
• Part of the first phase of the ambitious 1 GW Renewable Power (Solar+Wind) Project along with 376 MW from WHRS.
• 70% savings in power cost to significantly enhance EBITDA.
• A total expenditure of Rs. 10,000 Cr will enable 60% of the Company’s power requirement to come from green power by FY’28.

Ambuja Cements, the cement and building material company of the diversified Adani Portfolio, has successfully commissioned and started power transmission from its 200 MW solar power project in Khavda. The balance 806 MW capacity from this project is at various stages of commissioning and expected to start transmitting in phases between March 2025 and June 2025. Positively impacting the the Company’s EBITDA, this development leads to an impressive 70% savings compared to current power cost.

Mr. Ajay Kapur, CEO – Cement Business, Adani Group said, “Growing responsibly and sustainably is fundamental to our ESG excellence journey as we are proudly committed to achieving Net Zero emissions by 2050. This is the first phase of our 1 GW Renewable Power Project in our efforts to decarbonize the value chain. We aim to power 60% of our total energy consumption from green power sources by FY’28. This helps us in reducing our overall cost and delivering strong value to our stakeholders. Our sustainability principles are integrated into all aspects of our business and reflect our forward-thinking vision.”

The Company has received standing clearance for its 200 MW Solar Power Project from the Western Regional Load Dispatch Centre (WRLDC), effective 12th December 2024. This first phase of its ambitious Green Energy Project, paves the way for further value unlocking for the Company’s Rs. 10,000 Cr investment towards green power - 1 GW of Renewable Energy, including Solar and Wind, along with 376 MW of Waste Heat Recovery Systems (WHRS).

Of the remaining 806 MW capacity from this project, 156 MW of Wind Power from Khavda and a further 300 MW Solar Power from Rajasthan are expected to be comissioned by March 2025 in phases. The balance 350 MW Solar power is expected to be commissioned by June 2025.

Ambuja Cements has a legacy of being environmentally responsible and continues to strive towards decarbonisation of the cement industry with future-ready inititiatives aimed at building a greener, more inclusive future.

About Ambuja Cements Limited

Ambuja Cements Limited, is one of India's leading cement companies and a member of the diversified Adani Group – the largest and fastest growing portfolio of diversified sustainable businesses. Ambuja Cements, with its subsidiaries has taken the Adani Group’s cement capacity to 89 MTPA with 22 integrated cement manufacturing plants and 21 cement grinding units across the country.

Ambuja Cements has been recognised among ‘India’s Most Trusted Cement Brand’ by TRA Research in its Brand Trust Report, 2024 and among ‘Iconic Brands of India 2024’ by The Economic Times for the third consecutive year. Ambuja has provided hassle-free, home-building solutions with its unique sustainable development projects and environment-friendly practices since it started operations. The company has many firsts to its credit – a captive port with ten terminals that has facilitated timely, cost-effective and cleaner shipments of bulk cement to its customers. To further add value to customers, the Company’s innovative products are now enlisted in GRIHA product catalogue. These products not only fulfil important customer needs but also help in significantly reducing their carbon footprints. Being a frontrunner in sustainable business practices, Ambuja Cements is the world’s first cement manufacturer to join the Alliance for Industrial Decarbonization (AFID) – a global alliance, facilitated by IRENA to accelerate Net Zero transition. It ranks among ‘India's Top 50 companies contributing to inclusive growth’ by SKOCH and has been recognised for its climate change mitigation commitments with a ‘Leadership Score’ of A- by CDP.

Adani's Ambuja Cement in Talks to Acquire Star Cement, the Largest Cement Manufacturer of N.E. India

Adani Group's Ambuja Cement is evaluating a deal to acquire Star Cement as part of its expansion strategy in the North East region of India, said a report by CNBC-TV18 citing its sources. 

Star Cement is the largest cement manufacturer in the North East, with an installed capacity of 7.7 million tonnes per annum (mtpa) and plans to scale it to 25 mtpa by 2030. 

The Adani Group has appointed EY to evaluate the deal, said the report. 

It is to be noted however that Star Cement has refuted thes reports, calling them speculative and stating that they are not engaged in any discussions regarding the acquisition

Star Cement holds the highest market share in the North East. Currently, it has the capacity of 7.7 mtpa with a 1.67-mtpa integrated cement plant in Meghalaya and four grinding unit. 

Located in Lumshnong, Meghalaya, with a capacity of 1.67 MTPA, Star Cement has two Grinding Units, at Sonapur, near Guwahati, Assam, and one unit at Mohitnagar, near Jalpaiguri, West Bengal. 

Star Cement aims to expand its capacity to 25 mtpa by 2030.

Adani in Advance Talks With Odisha for Its First Greenfield Cement Manufacturing Plant

The Adani Group is in advanced discussions with the Odisha government to set up its first greenfield cement plant. This plant will be constructed from the ground up, marking a significant expansion for Adani in the cement sector. The proposed plant will have a production capacity of 4 million tonnes per annum (MTPA) and is expected to be operational by the 2028 financial year.

Adani group that has so far only acquired cement businesses has also prepared a strategy to build new facilities from scratch.

The group has finalized its discussions with the Odisha government and the target is to make the cement plant ready by FY28.

This move is part of Adani's broader strategy to become one of India's largest cement producers. The investment for this project is estimated to be between ₹3,000-3,500 crore.

Earlier in August, Adani Group's Ambuja Cements has announced a significant investment of ₹1,600 crore to set up its first cement grinding unit in Bihar. However, this involves establishing a facility to grind cement clinker into finished cement, rather than constructing a cement manufacturing plant from the ground up.

Since entering the cement industry in 2022 by acquiring Ambuja Cements, the Adani Group has made several strategic acquisitions to rapidly expand its production capacity.

The Adani Group has made several strategic acquisitions to expand its presence in the cement industry. These include the acquisition of Sanghi Industries' cement business, which significantly boosted Adani's production capacity.

Additionally, Adani acquired Hyderabad-based Penna Cement, further expanding its footprint in southern India. The acquisition of CK Birla group's Orient Cement also added substantial capacity to Adani's portfolio. Gujarat-based Saurashtra Cement is in advanced discussions for acquisition by Adani. The group is also exploring the acquisition of Jaiprakash Associates' cement business and considering the acquisition of Vadraj Cement, owned by ABG Shipyard.

These acquisitions are part of Adani's ambitious plan to become one of India's largest cement producers, aiming for a production capacity of 140 million tonnes per annum by the financial year 2027-28.

Back to Adani's Ambuja Cements, Ambuja reported a 42.5% year-on-year decline in net profit for the second quarter of the fiscal year 2024-25, with net profit falling to ₹455.96 crore. Despite the profit decline, Ambuja Cements achieved a 9% growth in sales volume, reaching 14.2 million tonnes in Q2, the highest in the past five years.

To recall, last year in March it was reported that Adani Group is setting up two new cement manufacturing plants in Andhra Pradesh, with a combined capacity of 10 million tonnes per annum (MTPA). These plants said to be be located in Kadappa and Nadikudi.

Apart from cement, Adani Enterprises has begun operations of a new copper unit in Mundra, Gujarat, with a capacity of 1 million tonnes per annum (MTPA). The project is expected to create 7,000 direct and indirect employment opportunities.

Adani Acquires Orient Cement at ₹ 8,100 Crore Equity Value

Acquisition adds 16.6 MTPA capacity (8.5 MTPA operational, 8.1 MTPA Ready to Execute).

Accelerates Ambuja’s journey to achieve 100+ MTPA operational capacity in FY 25

• Provides 6 MTPA potential additional capacity in North India, leveraging OCL’s high quality limestone reserves in Rajasthan
• Ambuja enters into a binding agreement to acquire 46.8% stake in Orient Cement Ltd (OCL). The acquisition helps to move towards target capacity of 140 MTPA by 2028.
• OCL has an existing 5.6 MTPA clinker and 8.5 MTPA cement operational capacity, 95 MW CPP, 10 MW WHRS, 33 MW Renewable Energy spread across the states of Telangana, Karnataka and Maharashtra. It improves Adani Group’s market share pan-India by 2% in the cement industry.
• OCL has secured a concession from Madhya Pradesh Power Generating Company Ltd (“MPPGCL”) to set up 2.0 MTPA Cement GU within the premises of Satpura Thermal Power Station in Sarni, MP.
• OCL also has a large high quality limestone mining lease in Chittorgarh, Rajasthan, providing the potential to set up additional 6 MTPA capacity in North India.
• The acquisition of OCL complements Ambuja’s existing cement footprint, reducing overall lead distances and logistics costs for the cement business and improving market share in our core markets.
• Acquisition will be funded through internal accruals, Ambuja remains debt free.

Ambuja Cements, the cement and building material company of Adani Cement and part of the diversified Adani Group, today announced the signing of a binding agreement for the acquisition of Orient Cement Ltd (OCL) at an equity value of Rs. 8,100 crore. Ambuja will acquire 46.8% shares of OCL from its current promoters and certain public shareholders. The acquisition will be fully funded through internal accruals.

“This timed acquisition marks another significant step forward in Ambuja Cements’ accelerated growth journey, increasing cement capacity by ~30 MTPA within two years of Ambuja’s acquisition,” said Mr Karan Adani, Director of Ambuja Cements. “By acquiring OCL, Ambuja is poised to reach 100 MTPA cement capacity in FY 25. The acquisition will help to expand Adani Cement’s presence in core markets and improve its pan-India market share by 2%. OCL’s assets are highly efficient, equipped with railway sidings and well supported by captive power plants, renewable energy, WHRS and AFR facilities. OCL’s strategic locations, high-quality limestone reserves and requisite statutory approvals present an opportunity to increase cement capacity in the near term to 16.6 MTPA.”

Mr CK Birla, Chairman of Orient Cement and the CK Birla Group, said, “The CK Birla Group is continuously reallocating capital to sharpen its focus on consumer centric, technology driven and service-based businesses. I take pride in Orient Cement’s impressive geographies it operates in. We are confident that the Adani Group, with its strong focus on cement and infrastructure, is the ideal new owner to drive continued growth at Orient Cement for our people and stakeholders”.

Ms Amita Birla, Co-Chairman, CK Birla Group, added, “Orient Cement has a strong market presence, with sustainability initiatives, particularly in renewable energy, being a significant part of its DNA. I am convinced that Ambuja Cements is the right home for all our colleagues at Orient Cement, as well as our customers.”

OCL has 5.6 MTPA clinker capacity and 8.5 MTPA cement capacity along with statutory clearance to increase the clinker capacity by another 6.0 MTPA and cement capacity by another 8.1 MTPA. In addition, OCL also has a limestone mining lease in Chittorgarh for setting up an Integrated Unit (IU) with clinker of 4 MTPA and a split Grinding Unit (GU) of 6 MTPA in North India. OCL has also secured a concession from MPPGCL, Madhya Pradesh for setting up a Grinding Unit within the premises of Satpura Thermal Power Plant. Both these complement the Adani Group’s existing cement footprint. (Refer Annexure – 1 for OCL’s location wise cement capacity and other assets and Annexure - 2 for Adani Cement’s footprint post-acquisition of OCL.)

OCL has recently commissioned a WHRS in Chittapur IU and is in the final stage of commissioning 16 MW solar in Chittapur and 3.7 MW solar in Jalgaon. OCL’s efficient plants, highly motivated teams, strong balance sheet and well-distributed dealer network will be excellent additions to the Adani Group’s existing cement business. OCL’s existing dealers will move to Adani Cement’s market network, creating formidable synergies.

Ambuja plans to optimize OCL’s overall capacity utilization to enhance its cost and competitiveness and improve its operating performance while leveraging the synergies inherent in the existing cement business.

Adani to Sell 3% in Ambuja Cement for $500 Mn as Part of the Group’s Holdings Adjustment

The Adani Group's promoters are planning to sell up to 3% of their shares in Ambuja Cements as part of a regular holdings adjustment. This move aims to maintain their desired stake across the conglomerate, which spans ports and energy sectors.

The sale involves approximately 7 crore shares (equivalent to 2.84% ownership) in Ambuja Cement, with an offer price of ₹600 per share—a 5% discount to the closing price on the BSE.

Notably, the Adani-led promoter group holds shares worth USD 125 billion across their ten listed companies. This strategic adjustment allows them flexibility for events like acquisitions and investor needs. Ambuja Cement, acquired by Adani in 2022 from Holcim Ltd, is now India's second-largest cement maker. The stake sale will enhance the company's public float.

According to a report by Economic Times, the adjustments in the holdings are done on a regular basis to keep the promoters' interest at a desired level. The equity adjustments typically range from 0.5% cent to 3%. The stake sale in Ambuja Cement is part of that and not linked to any debt reduction, said the report, adding that the debt is at the company level.

Besides, the promoters may also look to shed some stake in Adani Power in October.

Ambuja Cement, a prominent player in the Indian cement industry, has been strategically expanding its footprint.

Ambuja Cement commands an impressive blended cement market share of over 89%. The company's low clinker factor (63%) and Total Shareholder Returns (TSR) of 5.1% contribute to their market leadership.

Ambuja aims to increase its cement capacity to 140 million tons per annum (MTPA) by 2028, adding 2.25 MTPA capacity organically and through inorganic route by acquiring 9.1 MTPA capacity (including 1.5 MTPA from the Tuticorin Grinding Unit).

Ambuja Cements recently signed a definitive agreement to acquire My Home Group’s 1.5 MTPA Cement Grinding Unit in Tuticorin, Tamil Nadu. Spread across 61 acres of land, the unit is strategically located near the Tuticorin Port, enhancing Ambuja’s coastal footprint across southern markets in Tamil Nadu and Kerala.

With this addition, Adani Group’s total cement capacity stands at 78.9 MTPA.

Ambuja Cements achieves sustainable performance in Q1 FY’25

Operating EBITDA Rs. 1,280 Cr, PAT Rs. 790 Cr

Operating Cost improved by 3% YoY at Rs. 4,437 PMT

Cash & Cash Equivalent at Rs. 18,299 Cr

• Q1 Operating EBITDA at Rs. 807 PMT, EBITDA margin of 15.4%.
• Quarterly EPS (diluted) at Rs. 2.65.
• Taken lead in ESG, Net Zero commitment by 2050, near-term targets validated by SBTi, first of its kind in the sector.
• Added 275 Mn MT limestone reserves in Q1 FY’25.

Ambuja Cements, the cement and building materials flagship of the diversified Adani Group, has announced sustainable results for Q1 FY’25, supported by cost leadership, improved efficiencies and growth.

Mr. Ajay Kapur, Whole Time Director & CEO, Ambuja Cements, said, “We have delivered another sustainable performance and our focus on innovation, digitisation, customer satisfaction and ESG is at the heart of our success. Our persistent performance sets the tone for the rest of the financial year, as we expand our footprint and capacities across new geographies. Our continued improvement on cost brings visibility of achieving the targeted cost reduction of Rs. 530 PMT by FY’28. With the Penna transaction expected to be closed by Q2 FY’25, our capacity will go to 89 MTPA and well on track to achieve our 140 MTPA plan by FY’28.”

Operational Highlights

• Group synergies continue to facilitate cost reduction journey, complemented by increasing footprint and capacities.
• Green power share at 18.4%, will improve to ~31 % by FY’25 and 60% by FY’28, this will contribute to reduction in overall cost of power by 33%, boosting EBITDA.
• Higher linkage coal volume and improved coal volume from Gare Palma (captive coal mine), has contributed to 17% reduction in Kiln fuel cost (Consolidated) from Rs. 2.08 to 1.73 per ’000 Kcal.
• Integration of recently acquired Tuticorin GU and Penna Cement (under closing) will help to further improve market share, overall profitability and RoCE.

Financial Highlights (Consolidated)

• Higher volume along with improved operational parameters resulted in growth in all business parameters.
• EBITDA PMT @ Rs. 807, EBITDA Margin of 15.4%,
• Net worth increased by Rs. 8,620 Cr during quarter and stands at Rs. 59,465 Cr, company remains debt free & continues to maintain Crisil AAA (stable) / Crisil A1+ ratings.
• The Cash & Cash Equivalent stands at Rs. 18,299 Cr enables accelerated growth in future.
• For Ambuja (consolidated), business level working capital stands at 30 days, reflecting agility in unblocking the funds in inventory and receivables.

Progress on Ongoing Projects

Brownfield expansions at 14 sites for Clinker facility of 11 Mn T and Cement capacity of 23.4 Mn T is progressing well as per plan. Out of this 4 MTPA clinker line 3 at Bhatapara (Chhattisgarh) is expected by Q4 FY’25 and 6.4 MTPA grinding facility (Sankrail 2.4, Farakka 2.4 and Sindri 1.6 MTPA) is expected between Q3 & Q4 FY’25. In addition, pre-operative work for the 28 MTPA grinding facility and 22 MTPA Clinker facility is under progress.

ESG Updates

The Company has launched Digital BRSR (Business Responsibility and Sustainability Reporting) for financial year 2023-24 which is available on the Company’s website - https://www.ambujacement.com/ambuja4-BRSR/. The digital report enables quick overview and ease of information on Company’s ESG Performance in an interactive and interesting manner.

• With Green power projects on track, power cost will be optimised with 60% sourced from green power, EBITDA maximisation & reduction in CO2 footprint.
• Green cement @ >80% of product mix, exemplifying commitment to eco-friendly practices & CO2 footprint minimisation
• Ambuja and ACC created societal values for >4.6 million people by contributing to fields like healthcare, education, employment, and sustainable livelihoods.
• Achieved 11x water positivity (FY’24) for Ambuja Cement, establishing leadership in water governance.
• Reached an impressive 8x plastic negativity (FY’24) for Ambuja Cement through co-processing of plastic waste in cement kiln.
• Pledged to plant 8.3 million trees by 2030, (1.4 million trees planted till FY’24) in line with Adani Group's ambitious plan to plant 100 million trees.
• Ambuja and ACC put together used more than 21 million tonnes of waste derived resources in FY’24 embracing circular economy.

Branding

• Strategic placements of 'Mazbooti ki Misaal' advertisements aired during IPL 2024 and World Cup T20 reaching out to 250M+ audiences.
• Amplified digital presence on 15+ high traffic apps and websites to increase brand reach and awareness.
• Conducted 'Skill Building Workshops' across various domains for ~3700 contractors.

Outlook

Cement demand during FY’24 stood higher by 7 - 8% YoY at 422 MTPA and are likely to grow by 7 - 9 % in FY'25 to around 451 MTPA driven by strong correlation with GDP growth and rising demand from housing and infrastructure sectors. The Government aims to invest ~USD 3 trillion in infrastructure and housing development through the ongoing 'Housing for All' scheme, National Infrastructure plan, PM Gati Shakti National Master plan and others. An outlay of Rs. 11.11 lakh crores for Capital Expenditure has been allotted in Budget FY’25 which represents 3.4% of GDP. Phase IV of PMGSY will be launched to provide all-weather connectivity to 25,000 rural habitations. All these measures are expected to bring buoyancy to cement demand.

Achievements

• 'Best Customer Service' Award for the revolutionary AAA Certified Technology initiative at the 17th Customer Fest Show India 2024.
• Leadership Score in CDP Climate Assessment, showcasing leading position in environmental stewardship.
• Bhatapara and Roorkee plants won Apex India Green Leaf Platinum and Gold Awards for Environmental Excellence, respectively.
• Gold and Silver Awards for water positivity and waste co-processing, respectively, at the SKOCH Awards 2024.

About Ambuja Cements Limited


Ambuja Cements Limited, is one of India's leading cement companies and a member of the diversified Adani Group – the largest and fastest growing portfolio of diversified sustainable businesses. Ambuja, with its subsidiaries ACC Ltd. and Sanghi Industries Ltd has taken the Adani Group’s cement capacity to 78.9 MTPA with 18 integrated cement manufacturing plants and 19 cement grinding units across the country. The Company has entered into a binding agreement to acquire Penna Cement Industries Limited with a capacity of 14 MTPA. Ambuja has been recognised among ‘India’s Most Trusted Cement Brand’ by TRA Research in its Brand Trust Report, 2024 and among ‘Iconic Brands of India’ by The Economic Times. Ambuja has provided hassle-free, home-building solutions with its unique sustainable development projects and environment-friendly practices since it started operations. The company has many firsts to its credit – a captive port with six terminals that has facilitated timely, cost-effective and cleaner shipments of bulk cement to its customers. To further add value to customers, the Company’s innovative products are now enlisted in GRIHA product catalogue. These products not only fulfil important customer needs but also help in significantly reducing their carbon footprints. Being a frontrunner in sustainable business practices, Ambuja Cements ranks among ‘India's Top 50 companies contributing to inclusive growth’ by SKOCH and has been recognised for its climate change mitigation commitments with a ‘Leadership Score’ of A- by CDP.

Adani-owned Ambuja Cements Acquires Penna Cement at Enterprise Value of Rs. 10,422 Cr

Ambuja Cements Limited, which is part of the Adani Group, has announced the acquisition of Penna Cement Industries Ltd (PCIL) for an enterprise value of Rs. 10,422 crore. This strategic move is aimed at expanding Ambuja Cements' market presence, especially in South India, and is a significant step towards achieving their target of a cement production capacity of 140 million tonnes per annum (MTPA) by 2028.

The acquisition includes 100% shares of PCIL and will be fully funded through internal accruals. PCIL has a total cement capacity of 14 MTPA, with 10 MTPA currently operational. The remaining capacity is under construction and expected to be completed within 6 to 12 months. This acquisition will also strengthen Adani Cement’s sea transportation logistics, as it includes five bulk cement terminals that serve peninsular India and provide an entry to Sri Lanka.

The deal is expected to improve Adani Cement’s market share by approximately 2% pan India and by about 8% in South India. It's a noteworthy development in the Indian cement industry, reflecting the Adani Group's growth and consolidation strategy.

Adani Group aims to become the largest cement manufacturer in India. They have marked $3 billion for multiple cement acquisitions, including Penna Cement, to capture one-fifth of the domestic cement market by FY28 1. The group is focusing on brownfield expansion and has set a target capacity of 140 MTPΑ by 2028.