Consolidation Wave Sweeps Indian Cement Industry

02 Jul 2024 CW Team

This development comes closely on the heels of another major acquisition in the sector. Just two weeks prior, Ambuja Cements, owned by the Adani Group, finalized a monumental deal to acquire 100% of Hyderabad-based Penna Cement Industries for a staggering Rs 104.22 billion. These moves highlight a growing trend among India's largest cement companies to consolidate resources, expand production capacities, and enhance their geographical footprint.

The cement industry, a cornerstone of India's infrastructure growth, has witnessed a flurry of mergers and acquisitions in recent years. An analysis reveals that since early 2016, including the latest UltraTech Cement-India Cements deal, there have been a total of 21 significant transactions in the sector, collectively valued at approximately Rs 1.59 lakh crore. Post-pandemic, these deals, amounting to Rs 1.12 lakh crore, have surged, reflecting industry players' proactive measures to capitalize on recovery and expansion opportunities.

Industry experts suggest that such strategic acquisitions not only bolster the acquirers' market dominance but also pave the way for synergies in operations and distribution channels. With the cement demand projected to rise alongside infrastructure developments across India, these consolidations are expected to drive efficiencies and innovation in the sector.

The cement sector's consolidation trend underscores a broader strategy among major players to navigate competitive pressures, optimize economies of scale, and ensure sustainable growth amidst evolving market dynamics. As stakeholders monitor the outcomes of these acquisitions, the industry anticipates further reshaping of its competitive landscape in the months ahead.

In a significant move towards consolidation, UltraTech Cement has secured a substantial 23% non-controlling stake in Chennai-based India Cements for Rs 18.89 billion. This acquisition, announced by Kumar Mangalam Birla-promoted UltraTech Cement, underscores the cement giant's strategic intent to strengthen its market position amidst intensifying competition. This development comes closely on the heels of another major acquisition in the sector. Just two weeks prior, Ambuja Cements, owned by the Adani Group, finalized a monumental deal to acquire 100% of Hyderabad-based Penna Cement Industries for a staggering Rs 104.22 billion. These moves highlight a growing trend among India's largest cement companies to consolidate resources, expand production capacities, and enhance their geographical footprint. The cement industry, a cornerstone of India's infrastructure growth, has witnessed a flurry of mergers and acquisitions in recent years. An analysis reveals that since early 2016, including the latest UltraTech Cement-India Cements deal, there have been a total of 21 significant transactions in the sector, collectively valued at approximately Rs 1.59 lakh crore. Post-pandemic, these deals, amounting to Rs 1.12 lakh crore, have surged, reflecting industry players' proactive measures to capitalize on recovery and expansion opportunities. Industry experts suggest that such strategic acquisitions not only bolster the acquirers' market dominance but also pave the way for synergies in operations and distribution channels. With the cement demand projected to rise alongside infrastructure developments across India, these consolidations are expected to drive efficiencies and innovation in the sector. The cement sector's consolidation trend underscores a broader strategy among major players to navigate competitive pressures, optimize economies of scale, and ensure sustainable growth amidst evolving market dynamics. As stakeholders monitor the outcomes of these acquisitions, the industry anticipates further reshaping of its competitive landscape in the months ahead.

Infrastructure Urban

06 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Infrastructure Urban

06 Nov 2025

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Infrastructure Urban

06 Nov 2025

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..