Ambuja Cement says strategic locations near Dahej port and Amba River will enable source clinker by sea as well as rail to serve high-growth market of South Gujarat and Mumbai
Ambuja will acquire 100% stake in Penna Cement from its promoter group, Reddy and family, at an enterprise value of ₹10,422 crore.
The acquisition of My Home Group's cement unit in Tuticorin will take Adani Group’s total cement capacity to 78.9 MTPA.
Adani Cement, through Endeavour Trade and Investment, has signed agreements with international banks to refinance $3.5 billion debt taken for acquisition of Ambuja Cements and ACC last year
Lotis IFSC will focus on aircraft business, while Ambuja Concrete North and Ambuja Concrete West will cater to the cement industry.
The Adani group company has declared dividend of ₹2.50 per equity share having a face value of ₹2 each (125%) for the financial year FY23.
The Adani group firm posted net profit at ₹235.66 crore in Q4FY23 as against ₹396.33 crore in the same quarter a year ago, dented by higher costs.
