Corporate News     03-Aug-23
Ambuja Cements acquires 56.74% stake in Sanghi Industries
Ambuja Cements today announced the acquisition of Sanghi Industries (SIL) at an enterprise value of Rs 5,000 crore. ACL will acquire 56.74% shares of SIL from its existing promoter group, Ravi Sanghi & family. The acquisition will be fully funded through internal accruals.

SIL's integrated manufacturing unit at Sanghipuram in Gujarat's Kutch district is India's largest single-location cement and clinker unit by capacity. With 2,700 hectares of land, the integrated unit has two kilns with a clinker production capacity of 6.6 MTPA and a cement grinding unit with a capacity of 6.1 MTPA. It has a captive power plant of 130 MW and a Waste Heat Recovery System of 13 MW. The unit is also connected with a captive jetty at Sanghipuram.

The acquisition of SIL will help ACL to strengthen its market leadership and increase its cement capacity to 73.6 MTPA from the current 67.5 MTPA. With the ongoing capex of 14 MTPA and with commissioning of 5.5 MTPA capacity at Dahej and Ametha by Q2 of FY24, the Adani Group's capacity will be 101 MTPA by 2025.

Given the Adani Group's strength in building and operating marine infrastructure, the port at Sanghipuram will be expanded to handle vessel sizes of 8,000 DWT (deadweight tonnage). Bulk terminals and grinding units will be created along the western coast to enable movement of clinker and cement through the sea route at the lowest possible cost.

SIL also has a bulk cement terminal each at Navlakhi Port in Gujarat and Dharamtar Port in Maharashtra. Most of the cement is transported through the sea route, which is environment-friendly and cost competitive. SIL has a network of 850 dealers, with market presence in Gujarat, Madhya Pradesh, Rajasthan, Maharashtra and Kerala.

Previous News
  Sanghi Industries allots RPS aggregating Rs 500 cr to Ambuja Cements
 ( Corporate News - 05-Jul-24   11:29 )
  Board of Ambuja Cements approves merger with Adani Cementation
 ( Corporate News - 27-Jun-24   17:04 )
  Stock alert: Sanghi Industries, Mazagon Dock, Sterling and Wilson Renewable, Borosil
 ( Market Commentary - Stock Alert 26-Jun-24   08:31 )
  Indices rally for 3rd day; auto shares jump
 ( Market Commentary - Quick Review 14-Jun-24   15:46 )
  Nifty scales above 23,400 level; oil & gas shares in demand
 ( Market Commentary - Mid-Session 14-Jun-24   11:32 )
  Ambuja Cements hits life high on plan to acquire Penna Cement for Rs 10,422 cr
 ( Hot Pursuit - 14-Jun-24   10:40 )
  Ambuja Cement acquires Penna Cement at enterprise value of Rs 10,422 cr
 ( Corporate News - 13-Jun-24   20:33 )
  Sanghi Industries to convene AGM
 ( Corporate News - 03-Jun-24   17:24 )
  Ambuja Cements
 ( Results - Analysis 02-May-24   11:33 )
  Ambuja Cements to convene AGM
 ( Corporate News - 02-May-24   19:13 )
  Nifty settles near 22.650 mark; Ashok Leyland rallies 4%
 ( Market Commentary - Quick Review 02-May-24   15:55 )
Other Stories
  High Energy Batteries (India) to discuss results
  06-Jul-24   10:29
  Havells India schedules board meeting
  06-Jul-24   10:29
  Axis Bank announces board meeting date
  06-Jul-24   10:29
  Mastek to conduct board meeting
  06-Jul-24   10:29
  Oriental Hotels to conduct board meeting
  06-Jul-24   10:29
  Milkfood schedules AGM
  06-Jul-24   10:28
  Transcorp International to table results
  06-Jul-24   10:28
  MRP Agro to convene board meeting
  06-Jul-24   10:28
  Thirumalai Chemicals to table results
  06-Jul-24   10:28
  Bajaj Healthcare schedules board meeting
  06-Jul-24   10:27
Back Top