India Cements Capital , a leading cement manufacturer, has announced that UltraTech Cement has set the floor price for its offer for sale (OFS) of its stake in India Cements Capital. The floor price has been set at ₹368.00 per share, marking a significant move in the cement industry.

Offer for Sale Details

The OFS represents UltraTech's decision to divest its shareholding in India Cements Capital through the stock exchange mechanism. This move is likely to attract attention from investors and market watchers, given the prominence of both companies in the Indian cement sector.

Implications for the Market

This stake sale could potentially reshape the ownership structure of India Cements Capital and may have implications for the competitive landscape of the cement industry. The floor price of ₹368.00 per share sets a baseline for the transaction, providing a clear starting point for potential investors.

Stock Exchange Mechanism

By choosing to divest through the stock exchange mechanism, UltraTech is opting for a transparent and market-driven process. This method allows for broader participation and price discovery, which could benefit both the seller and potential buyers.

The cement industry will be closely watching this development, as it could signal broader trends in the sector, including consolidation moves or strategic realignments among major players.

India Cements Capital Limited (ICCL) has reported a strong financial performance for the first quarter, with a significant increase in profit and revenue. The company, which specializes in foreign currency trading and has a wholly-owned subsidiary in the brokerage business, also announced key management changes and corporate governance updates.

Financial Highlights

ICCL's standalone financial results for Q1 show impressive year-over-year growth:

On a consolidated basis, which includes its wholly-owned subsidiary India Cements Investment Services Limited, the company reported:

• Revenue from operations increased by 17.5% to ₹142.14 crore
• Net profit surged by 249.9% to ₹17.88 crore
• Consolidated earnings per share rose to ₹0.08 from ₹0.02 in the previous year

Management Changes and Corporate Updates

The Board of Directors, in their meeting held on August 11, 2025, made several key decisions:

1. CEO Reappointment: Mr. K. Suresh has been reappointed as 'Manager' / CEO for a period from October 1, 2025, to September 30, 2026, subject to shareholder approval. Mr. Suresh, who has been associated with the company as President and CEO since 2007, brings extensive experience in finance, accounts, and taxation.

2. Secretarial Auditor Appointment: The Board recommended the appointment of Ms. P. Sindhuja, Company Secretary in Practice, as the Secretarial Auditor for a term of five consecutive years from FY 2025-26 to FY 2029-30, subject to shareholder approval at the upcoming Annual General Meeting.

3. Annual General Meeting: The next AGM is scheduled for September 27, 2025, to be held through Video Conferencing or Other Audio Visual Means.

4. Book Closure: The Register of Members will remain closed from September 21, 2025, to September 27, 2025, for determining shareholders eligible to vote at the AGM.

Business Outlook

India Cements Capital Limited continues to focus on its core business of foreign currency trading, while its subsidiary engages in brokerage services for shares, mutual funds, and bonds. The company's strong performance in Q1 demonstrates its resilience and ability to capitalize on market opportunities.

As the financial sector evolves, ICCL's strategic positioning in forex and investment services appears to be yielding positive results, as reflected in its substantial profit growth. The company's commitment to corporate governance, as evidenced by the appointment of a new Secretarial Auditor and the transparent disclosure of financial results, may further strengthen investor confidence in its operations and management.