Acc Cement News Today

Adani Cement: Ambuja Cement has a cement capacity of 31 million tonne per annum with 6 integrated cement manufacturing plants and 8 cement grinding units across the country.

In his new role, Balakrishnan will lead the company’s management and growth strategies of both in-house brands under Duroflex Group - Duroflex and Sleepyhead, according to the release.

A statement from Adani Cement on Friday said it has completed the refinancing programme for the debt taken for the two companies through a financing package from a clutch of international banks

ACCs net consolidated total income stood at Rs 5,270.02 crore in Q1 FY24, a growth of 16.54 per cent from Rs 4,522.20 crore it recorded in the similar quarter last year.

The cement maker, Indias oldest manufacturer of the commodity, said that based on the review of independent law firms hired by the Adani Group, and the pending outcome of regulatory investigations into the matter, ACC has decided to not carry out any separate independent probe.

The group became Indias second-largest cement producer in 2022, behind UltraTech Cement with its USD 10.5 billion acquisition of both Ambuja Cements and ACC from Switzerlands Holcim, , adani group, acc cement, ambuja cements

Cement maker ACC Ltd on Thursday reported a decline of 40.53 per cent in its consolidated net profit at Rs 235.66 crore for the quarter ending March 2023.

The group in 2022 announced acquisition of Ambuja Cements and its subsidiary. But ‘Morning Context’ reported that Vinod Adani was an ultimate beneficial owner.

The group further said that as the promoters have only provided the non-disposal undertaking, there is no requirement to provide any top-up shares or cash from either of the companies, under the acquisition financing raised last year.

Ambuja Cements shares were up 5.96% to Rs 354 apiece, while ACC shares were up 0.40 percent to Rs 1,853.70 apiece, , ambuja cements, acc cement, adani group