Adani family infuses `6,661 crore into Ambuja Cements

AMBUJA CEMENTS Ltd on Thursday said its promote rs ada ni family has infused Rs 6,661 crore in the company. with this fund in fusion, the Adani family' s stake in the company has increased by 3.6 per cent to 66.7 per cent.

“The funds infusion will be instrumental in enhancing conclusively to accomplish the capacity of 140 million tonnes per annum by 2028 by the cement vertical,” Ambuja Cements said in filing to exchanges. It will also be instrumentalin fuel ling various strategic initiatives including undertaking de bottlenecking cap ex to enhance operational capabilities to ensure scalability, as well as bringing efficiencies across resources, supply chain. The investment will drive innovation and product enhancement through advanced technology integration for better service offerings to tap the growing requirements of the sector.

In October 2022, the Adani family infused Rs 5,000 crore into Ambuja Cements for exercising the warrants issuance.

The promoters, so far, have infused Rs 11,661 crore in Ambuja post acquisition, giving the cement and building material firm capital flexibility for accelerated growth, capital management initiatives and balance sheet strength to accomplish its various strategic initiatives.

Ambuja, with its subsidiaries A cc ltd. and sang hi industries ltd has taken the Adani Group’s cement capacity to 77.4 million tonnes with 18 integrated cement manufacturing plants and 18 cement grinding units across the country.

In the quarter ended December 2023, Ambuja Cements reported a 39 per cent jump in its net profit at Rs 514 crore compared to Rs 369 crore. Revenue from operations rose 8 percent to rs 4,439.52 cr ore inq 3 FY24 compared to Rs 4,128.52 crore in the year-ago period.