Net profit of Ambuja Cements declined 42.50% to Rs 455.96 crore in the quarter ended September 2024 as against Rs 792.96 crore during the previous quarter ended September 2023. Sales rose 1.24% to Rs 7516.11 crore in the quarter ended September 2024 as against Rs 7423.95 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales7516.117423.95 1 OPM %14.7917.54 - PBDT1420.831720.61 -17 PBT868.871339.71 -35 NP455.96792.96 -42 Powered by Capital Market - Live News

Ambuja Cements announced the signing of a binding agreement for the acquisition of Orient Cement (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.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. 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.Powered by Capital Market - Live News

Ambuja Cements will hold a meeting of the Board of Directors of the Company on 28 October 2024.Powered by Capital Market - Live News

Ambuja Cements has completed the acquisition of Penna Cement Industries (PCIL) on 16 August 2024. Consequently, PCIL has become a subsidiary of the Company effective from 16 August 2024. Powered by Capital Market - Live News

Ambuja Cements has appointed Rajesh Kumar Jha, Chief Projects Officer of the Company, w.e.f. 31 July 2024.Powered by Capital Market - Live News