Hindenburg Research put the spotlight on the Adani Group’s relationship with Adicorp, a small Gujarat-based firm. Now, another connection has surfaced.
Adani announced that the group plans to double capacity to 140 MTPA from the current 67.5 MTPA going forward in the cement business (Ambuja and ACC). Also, it expects net sales to rise to ₹70,000 crore by FY28 fiscal compared to ₹29,700 crore so far in FY23. EBITDA margins are trajected to expand from 19% to 25% in FY28.