Increased pace of capex will help achieve targeted growth ahead of time: Adani Cement CEO
Adani Cement «achieve targeted growth ahead of time», said Adani Group Cement Business CEO Ajay Kapur in an investors' call on Monday. The Adani group, which had last week announced the acquisition of Orient Cement, aims to have a manufacturing capacity of 140 million tonnes per annum (MTPA) by FY28.
«Adani Cement will benefit from accelerated growth, lower costs and good synergies, all of which will contribute to leading the market and achieving sustainable performance in the near future. The pace of capex has increased, which will help to achieve targeted growth ahead of time,» said Kapur.
Ambuja Cement, part of Adani Group, which houses all cement assets, is a debt-free company and as of September 2024, cash and cash equivalent for the company was at Rs 10,135 crore, said Kapur.
«During H1, approximately Rs 14,700 crore has been utilised, out of which Rs 12,350 crore has been spent on organic and inorganic growth,» he added.
The billionaire Gautam Adani-run conglomerate is snapping up smaller rivals to challenge India's top cement maker UltraTech, the Aditya Birla group firm.
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