Adani Group’s stock engaged in the business of manufacturing and selling Cement and related products in talk after it acquired a new company for Rs. 425.96 Crores, which will help to strengthen its market leadership and to achieve its goals.
At 11:25 a.m the shares of ACC Limited were trading at Rs. 2,348, down 1.28 percent from its previous day’s close price of Rs. 2,377.45 and its market capitalization is Rs. 44,076 Crores.
ACC Limited acquired an additional 55 percent stake in Asian Concretes and Cements Private Limited for Rs. 425.96 Crores which has an enterprise value of Rs. 775 Crores. Post-acquisition ACC Limited will hold a 100 percent stake in the company as it already held a 45 percent stake in it.
Asian Concretes and Cements Private Limited (ACCPL) has a 1.3 MTPA cement capacity in Nalagarh (Himachal Pradesh), while its subsidiary Asian Fine Cements Pvt Limited (AFCPL) has a 1.5 MTPA cement capacity in Rajpura (Punjab).
This will strengthen its market leadership by increasing ACC’s Cement capacity to 38.55 MTPA, and together with its parent company Ambuja, cement capacity stands increased to 76.10 MPTA.
This strategic move enhances ACC’s cement capacity and progress on the overall target of 140 MTPA capacity of Adani’s Cement Business by 2028. This acquisition reinforces Ambuja and ACC’s market leadership, elevating Adani Group’s overall cement capacity to 77.40 MTPA. With ongoing and planned CAPEX investments, the Adani Group’s cement capacity is poised to reach 106 MTPA by FY 2026
ACC Limited is engaged in the business of manufacturing and selling Cement and Ready Mix Concrete with pan India presence. It is a subsidiary of Ambuja Cements and is a part of Adani Cements.
Its revenue from operations grew 11.22 percent from Rs. 3,987.34 Crores in September 2022 to Rs. 4,434.73 Crores in September 2023, accompanied by a loss of Rs. 87.35 Crores to a profit of Rs. 387.85 Crores.
According to the latest shareholding data available for the quarter ended September 2023, the company’s Promoters hold 56.69 percent stake, the Foreign Institutional Investors (FII) hold 7.10 percent and the Domestic Institutional Investors hold 22.94 percent.
Written by: Bharath K.S
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