ACC Limited received observation letters with 'no adverse observations' from BSE and 'no objection' from NSE on June 04, 2026, regarding its Scheme of Amalgamation with Ambuja Cements Limited. The exchanges issued these responses under Regulation 37 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The scheme proposes the amalgamation of ACC Limited, the transferor company, with Ambuja Cements Limited, the transferee company, under Sections 230 to 232 of the Companies Act, 2013.

The validity of the observation letters is six months from June 04, 2026, within which the scheme must be submitted to the National Company Law Tribunal (NCLT). The exchanges reserved the right to withdraw their observations or raise objections if any information submitted is found to be incomplete, incorrect, misleading, or false, or for any contravention of regulations.

SEBI, via a letter dated June 03, 2026, provided specific comments that the companies must address. The market regulator mandated that the composite Scheme of Arrangement comply with Regulation 11 of SEBI LODR Regulations, 2015. It also required the disclosure of all details regarding ongoing adjudication, recovery proceedings, prosecutions, and enforcement actions against the companies, their promoters, and directors before the NCLT and shareholders.

The companies must ensure that financials considered in the scheme are not older than six months from the date of the Stock Exchange NOC. Any equity shares issued pursuant to the scheme must be in demat form. The entities are prohibited from making changes to the draft scheme after filing it with the stock exchanges, except those mandated by regulators or authorities.

Disclosure Requirements

The exchanges directed that specific information be prominently disclosed in the explanatory statement sent to shareholders. These disclosures are intended to help public shareholders make informed decisions.

The companies are required to incorporate the observations of SEBI and the stock exchanges into the petition filed before the NCLT. They must also disclose the No-Objection letter on their websites within 24 hours of receipt. The exchanges clarified that the submission of documents does not imply clearance or approval of the financial soundness of the scheme or the correctness of statements made therein.

ACC Limited has fixed Friday, June 12, 2026, as the record date to determine shareholder eligibility for a final dividend of ₹7.50 per equity share of ₹10 each for the financial year ended March 31, 2026. The dividend, subject to shareholder approval at the upcoming Annual General Meeting (AGM), will be paid on or after Wednesday, July 1, 2026. The company announced this in a newspaper advertisement published on June 1, 2026, providing details for the 90th AGM and remote e-voting procedures.

Key Event Details

The 90th Annual General Meeting of ACC Limited is scheduled for Friday, June 26, 2026, at 10:00 a.m. IST via Video Conferencing (VC) and Other Audio Visual Means (OAVM). The facility for remote e-voting will be available from Tuesday, June 23, 2026, at 9:00 a.m. IST until Thursday, June 25, 2026, at 5:00 p.m. IST. Shareholders holding shares as on the cut-off date of Friday, June 19, 2026, will be entitled to vote.

Financial Performance

ACC Limited delivered a sustained performance in FY 2025-26, marked by record annual sales volumes and strong revenue growth. The following table summarises the key consolidated financial highlights:

Operational and Strategic Highlights

ACC achieved a record annual cement sales volume of 43.9 million tonnes in FY 2025-26, representing a 12% year-on-year growth. The company maintained best-in-class working capital of 45 days and a strengthened EBITDA margin. EBITDA per tonne stood at ₹672 (including other income), supported by operational efficiencies and pricing discipline. The company remained debt-free during the year and retained its highest credit ratings of CRISIL AAA/Stable (long-term) and A1+ (short-term). ACC's asset base stood at ₹27,525 crore, growing 8.30% compared to FY 2024-25.

Capacity utilisation across acquired assets improved meaningfully to 54%, up by 16 percentage points from 38% in the previous year. The company commissioned a new 1.5 MTPA integrated cement plant at Sindri, Jharkhand, and undertook 0.3 MTPA capacity addition through debottlenecking, alongside ongoing expansions of 2.4 MTPA at Salai Banwa and 1 MTPA at Kalamboli. Adani Cement's consolidated capacity reached 109 MTPA during the year, with a target of 119 MTPA by FY 2026-27. Since becoming part of the Adani portfolio, the cement platform has added 32.9 MTPA of capacity through strategic acquisitions at a cumulative transaction value of ₹24,896 crore.

ESG and Sustainability Performance

ACC's sustainability agenda advanced significantly during FY 2025-26. The company achieved 29.80% renewable and green power consumption, with a target to reach 60% by FY 2027-28. Gross Scope 1 emissions stood at 509 kg per tonne of cementitious material, while Scope 2 emissions stood at 19.3 kg per tonne of cementitious material. The company utilised 11.57 million tonnes of waste-derived resources, including 0.45 million tonnes of alternative fuels, and achieved 1.7x water positivity. Blended cement accounted for 84% of total sales, while premium products contributed 44% of trade sales. ACC planted 4.54 million trees towards its target of 5 million by 2030 and maintained zero liquid discharge across all plants.