Ambuja Cements' net profit falls 52% in Q2 FY25

29 Oct 2024 CW Team

Ambuja Cements, a part of the Adani Group, reported a 52.10% decline in net consolidated profit for the quarter ending September 30, 2024. The profit after tax stood at Rs 4.72 billion, down from Rs 9 .87 billion in the same period last year, according to the company’s filing with the Bombay Stock Exchange (BSE).

The company's total consolidated income for Q2 FY25 was Rs 78.90 billion, slightly lower than the Rs 78.99 billion recorded in the corresponding quarter of the previous fiscal.

Ajay Kapur, the company’s CEO and Whole-time Director, commented, “Following the successful completion of the Orient Cement transaction, we are on track to achieve a 100+ MTPA capacity by the end of this fiscal year.”

Ambuja Cements reported an increase in net worth by Rs 4.5 billion during the quarter, bringing it to Rs 599.16 billion. The company remains debt-free and maintains its CRISIL AAA (Stable) / CRISIL A1+ ratings. As of September 30, 2024, cash and cash equivalents stood at Rs 101.35 billion.

The company recorded a 9% year-on-year increase in sales volume, reaching 14.2 million tonnes in Q2 FY25.

During the quarter, Ambuja Cements invested Rs 22 billion by subscribing to 8% non-convertible cumulative redeemable preference shares (RPS) issued by its subsidiary, Sanghi Industries.

Additionally, the company announced a binding agreement to acquire a 46.8% stake in Orient Cements at an equity value of Rs 81 billion, solidifying its expansion strategy.

(ET)

Infrastructure Urban

31 Aug 2026

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker. The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..