₹510.40 on NSE on Monday’s trading session after the company informed the completion of the acquisition of Sanghi Industries Limited (SIL) on December 5, in an exchange filing to Indian bourses. Meanwhile, the share price of Sanghi Industries hit 5% upper circuit, traded at ₹129.90 per share on Monday. ACL has secured a commanding 54.51% stake in SIL, emphasizing its dedication to harnessing operational synergies from this acquisition.
The primary objectives include boosting efficiency, minimizing costs, and fostering a sustainable approach to cement production. According to the company, SIL's expansive Sanghipuram integrated manufacturing unit spans 2,700 hectares, standing as India's largest single-location cement and clinker production facility. The facility features two kilns with a clinker production capacity of 6.6 million metric tons per annum (MTPA), alongside a dedicated 13 MW captive power plant and a 13 MW Waste Heat Recovery System.
Leveraging its extensive billion-tonne surface mining limestone reserves, the acquisition of SIL will strategically position ACL to accelerate its coastal expansion plans. The objective is to enhance cement capacity to 15 million metric tonnes per annum (MTPA) along the West Coast, leveraging SIL's cost-effective clinker, the company said in a statement. "This acquisition represents a significant step forward in our journey solidifying Adani Group’s leadership position in India's cement industry," said Ajay Kapur, CEO, Cement Business.
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