Gorakhpur caters to the educational, healthcare, commercial and urban housing needs of the entire eastern Uttar Pradesh, western Bihar, and Terai region of Nepal.
At an investors' meeting, the Adani Group management outlined a strong FY24 operating performance -- a 27 per cent compound annual growth rate (CAGR) for five years -- and a significantly improved leverage profile across businesses.
Soon after Ambuja Cements announced the acquisition of Penna Cement, brokerage Emkay Global Financial Services retained its 'Buy' recommendation on the Adani Group-owned cement producer.
Acquiring Penna Cement will increase Ambuja Cements' presence in India, particularly in South India, besides making way to markets in neighbouring Sri Lanka, the Adani Group cement company said in a presentation explaining the rationale behind the acquisition.
Ambuja Cement, the cement and building material company of Adani Cement and part of the diversified Adani Group, announced on Thursday that it has signed a binding agreement for the acquisition of Penna Cement Industries Ltd (PCIL) at an enterprise value of Rs. 10,422 crore.
The Adani Group company attributed this strong performance to improved key performance indicator (KPIs) -- like volumes, efficiencies, cost, and capital expenditure.
The Adani family has fully subscribed to the warrants programme in the company by
further infusing Rs 8,339 crore and has infused a total amount of Rs 20,000 crore
The release by the company states that the acquisition, valued at Rs. 413.75 Crores and funded through internal accruals. The aquisition will expand Ambuja's coastal footprint in the southern markets of Tamil Nadu and Kerala. With this acquisition, the Adani Group's total cement capacity rea
Ambuja Cements, the cement and building materials flagship company of the diversified Adani Group, reported a whopping 123 per cent rise in consolidated profit after tax (net profits) in the quarter that ended in December 2023.
Ambuja Cements, which is under the larger Adani Group, has committed an investment of Rs 6,000 crores in renewable power projects, targeting a capacity of 1,000 megawatts.
Adani highlighted the pivotal role played by Ambuja and ACC, both under the Adani Group umbrella, in spearheading a sustainable revolution within the cement sector.