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Shareholding Info
  • Promoters
    63.2 %
  • Foreign institutions-FII
    12.43 %
  • Other domestic institutions
    8.82 %
  • Retail and other
    9.94 %
  • Mutual Funds
    5.58 %

Ambuja Cements overview

Ambuja Cements is a producer of cement and related products. In May 2022, Ambuja Cements became a part of the Adani Group. Previously, they were a part of the global conglomerate, LafargeHolcim. Ambuja Cements was founded by Narotam Sekhsaria and Suresh Neotia – two traders in Gujarat, jointly with Gujarat Industrial Investment Corporation Ltd. Initially, the company name was Gujarat Ambuja Cements. Ambuja Cements is headquartered in Ahmedabad, Gujarat. In 1986, Ambuja Cements listed on the stock exchanges - BSE and NSE. Ambuja Cements owns a majority stake in ACC Limited, another cement company.
The company produces 67.5 million tons per annum (MTPA). It has a production network of 14 integrated units, 16 grinding units and 83 ready-mix concrete plans. Their network is made up of 78,000 channel partners across India.
Ambuja Cements are continuously introducing new products. They are working towards green products which use alternate fuel and raw materials.

Ambuja Cements journey

The key milestones for the company since its inception are as follows:
  • 1981: Ambuja Cements is founded by Narotam Sekhsaria and Suresh Neotia as a Private Limited Company.
  • 1983: The company becomes a public limited company.
  • 1985: The company sets up a cement manufacturing plant in technical collaboration with the German group Krupp Polysius.
  • 1991: Ambuja Cements receives approval for establishing another manufacturing facility in Himachal Pradesh, with a capacity of 1 MTPA.
  • 1992: The company starts shipping its cement through sea transport.
  • 1998: The company sets up a US $20 million clinker grinding unit in Sri Lanka.
  • 2000: Ambuja Cements and Larson & Toubro enter into a collaboration to reduce the transportation cost of dispatching bulk cement in Gujarat.
  • 2002: Commercial production begins at the Greenfield cement plant located at Chandrapur, Maharashtra, with a capacity of 2 MTPA.
  • 2006: Global cement player Holcim acquires management control of the company.
  • 2007: The name of the company changes from Gujarat Ambuja Cements to Ambuja Cements.
  • 2009-10: Commercial production starts at the newly established facilities in Chhattisgarh and Himachal Pradesh. The first knowledge center is also set up. The company is awarded the Integrated Management System (IMS) Certification including ISO 14001:2004, ISO 9001:2008 and OHSAS 18001:2007 by BSI (UK).
  • 2013: The company acquires a 50.01% stake in ACC. Holcim India also merged into Ambuja.
  • 2016: ACC becomes the subsidiary of Ambuja Cements.
  • 2021: The company continues to increase its production capacity at various locations and also starts to dispatch clinker and cement by rail.
  • 2022: Adani Group acquires the major stake in the company by purchasing the stake from LafargeHolcim Group.

Ambuja Cements - Initial Public Offer (IPO)

Ambuja Cements listed on the exchange on 21st February 1986.

Ambuja Cements products

Ambuja Cements manufactures and supplies cement and cement-related products like -
  • Ambuja Cement: High-strength cement used in the construction of buildings.
  • Ambuja Kawach: Specially formulated cement with high-quality water-repellent properties.
  • Ambuja Plus: Special quality PPC cement with advanced SPE technology.
  • Ambuja Cool Walls: Keeps the walls cool with temperature-resistant concrete blocks.
  • Ambuja Compocem: Sustainable cement product with a lighter carbon footprint.
  • Ambuja Buildcem: High-strength Portland Pozzolana cement produced using fly ash.
  • Ambuja Railcem: High-strength Blaine Portland cement for making concrete railway sleepers.
Ambuja Cements stock price return in 5 years – 113.12%.

Ambuja Cements business highlights

The revenue of the company in the last financial year was ₹13,794 crore.

Ambuja Cements performance highlights

3-year CAGR (revenue)


EBITDA (FY2021-22)

₹3,207 crore

Profit (FY2021-22)

₹2,081 crore

Share price return in last 3 years 


ROCE (FY2021-22)


ROE (FY2021-22)


Ambuja Cements management

  • Chairman Emeritus: N S Sekhsaria
  • Chairman (Non-Executive): Gautam Adani
  • Chief Executive Officer (CEO): Ajay Kapur
  • Chief Finance Officer (CFO): Vinod Baheti
  • Investor Relations: Rajiv Gandhi

Indian cement industry overview

The following are the key players in the cement industry -


Key Players

Market Capitalization

 November 2022

 (in crore)


UltraTech Cement



Ambuja Cements



Shree Cements






JK Cement


Size of the Indian cement industry

India is the second largest producer of cement in the world. At present, the installed capacity of the cement industry in India is 500 MTPA, with production currently at 298 MTPA. Demand for cement is mainly driven by housing and commercial construction, as well as infrastructure development projects. With existing players increasing their capacity to meet the demand, production capacity is expected to increase.

Industry growth prospects

According to the 2021 report of the Cement Industry in India, India’s annual production capacity was around 295 MT in 2021. It is estimated that the demand for cement is going to increase steadily and reach 420 MT by 2027. The central government’s push for increasing infrastructure will boost the cement demand. India is expected to add 80 MT Capacity by FY2023-24.

Ambuja Cements growth prospects

After their acquisition by the Adani Group, Ambuja Cements is looking forward to raising its capacity from 67.5 MTPA to 140 MTPA over the next 5 years. It has planned various measures for cost reduction, supply chain and network optimization by leveraging multi-modal logistics. It plans to obtain market leadership by promoting premium-quality green cement.

Risks and concerns

  • Rising energy and raw material prices can cause risks to the profitability and Ambuja Cements' stock price.
  • Interest rates have been rising, which may result in slower demand for construction activities, which in turn can affect the sale of cement.
  • Many infrastructure projects are initiated by the state and central governments, which have a tendency to get delayed or postponed. This can adversely affect the demand for cement.
  • Huge investments might be required for reducing carbon footprint and emissions. This may affect profitability in the short to medium term.


Link Intime India Pvt. Ltd
Ph: +022-49186270

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