Ambuja Cements Reports 22% Revenue Growth and Raises FY28 Capacity Target

Ambuja Cements Limited , a leading player in the Indian cement industry, has reported strong financial results for the September quarter, showcasing significant revenue growth and an ambitious capacity expansion plan.

Financial Highlights

Revenue

The company's consolidated revenue increased by 22% to ₹9,175.00 crore from ₹7,552.00 crore in the same period last year, marking Ambuja Cements' highest-ever Q2 topline.

Net Profit

Consolidated net profit surged to ₹1,766.00 crore, significantly higher than ₹480.00 crore in the corresponding quarter of the previous year. This substantial increase was primarily aided by a tax write-back of ₹1,465.00 crore.

Strategic Initiatives

Capacity Expansion

Ambuja Cements has raised its FY28 capacity target by 15 MTPA to 155 MTPA from the earlier goal of 140 MTPA. This expansion is planned through debottlenecking at a cost of $48 per tonne.

Product Mix Optimization

The company plans to install 13 blenders across its plants over the next 12 months. This initiative aims to optimize the product mix and enhance the share of premium cement in its portfolio.

Cost Reduction Targets

Ambuja Cements has set ambitious cost reduction targets:

The company aims to end FY26 with a total cost of ₹4,000.00 per tonne.
It expects a 5% annual reduction over two years to reach ₹3,650.00 per tonne by FY28.

Management Outlook

CEO Vinod Bahety expressed optimism about the company's future performance. He stated that Ambuja Cements expects to deliver double-digit revenue growth and four-digit PMT EBITDA for the remainder of FY26.

Market Response

Following the announcement of these results, Ambuja Cements' shares traded 1.4% higher at ₹573.20.

The strong financial performance, coupled with ambitious expansion and cost reduction plans, indicates Ambuja Cements' commitment to strengthening its market position and enhancing shareholder value in the coming years.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.15%	+1.73%	+1.12%	-3.65%	+2.16%	+120.42%

Ambuja Cements Limited shareholders have overwhelmingly approved the proposed scheme of arrangement with Penna Cement Industries Limited at the NCLT-convened meeting held on December 30, 2025. The meeting, conducted through video conferencing at 11:00 a.m. IST, was chaired by Hon'ble Justice (Retd.) Kalpesh Jhaveri as directed by the National Company Law Tribunal (NCLT) Ahmedabad.

Shareholder Meeting Details

Aspect:	Details
Date:	December 30, 2025
Time:	11:00 a.m. IST
Mode:	Video Conference
Chairman:	Justice (Retd.) Kalpesh Jhaveri
Meeting Duration:	11:00 a.m. to 12:03 p.m.
Scrutinizer:	Mr. Raimeen Maradiya, Chirag Shah and Associates

Voting Results and Approval

The resolution received requisite statutory majority from both overall shareholders and public shareholders as required under the Companies Act 2013 and SEBI Schemes Master Circular. The voting was conducted through remote e-voting from December 26-29, 2025, and e-voting during the meeting.

Overall Voting Statistics

Category:	Shares Held	Votes Polled	Polling %	Votes in Favour	Approval %
Promoter Group:	167.21 cr	167.21 cr	100.00%	167.21 cr	100.00%
Public Institutions:	63.52 cr	56.61 cr	89.12%	56.61 cr	100.00%
Public Non-Institutions:	16.45 cr	0.16 cr	0.10%	0.15 cr	96.14%
Total:	247.18 cr	223.84 cr	90.56%	223.84 cr	100.00%

Board and Management Participation

Several key directors attended the meeting including Chairman Mr. Gautam S Adani, Mr. Karan Adani, Managing Director Mr. Ajay Kapur, and Wholetime Director & CEO Mr. Vinod Bahety. Independent Directors Mr. Rajnish Kumar, Mr. Maheswar Sahu, and Mr. Praveen Garg also participated in the proceedings. Mr. Ameet Desai and Ms. Purvi Sheth were unable to attend due to personal commitments.

Regulatory Framework and Compliance

The meeting was convened pursuant to NCLT orders dated October 31, 2025 and November 19, 2025. The company received 4 authorizations from promoters/promoter group holding approximately 167.20 crore shares representing 67.68% of the paid-up share capital. Central Depository Services (India) Limited facilitated the video conferencing and e-voting processes.

E-voting Process Details

Parameter:	Details
Remote E-voting Period:	December 26-29, 2025
Remote E-voting Timing:	9:00 a.m. to 5:00 p.m. IST
Meeting E-voting Duration:	30 minutes post-meeting
Technical Support:	Helpline numbers provided

Merger Background

The amalgamation involves Penna Cement Industries Limited (transferor company) merging with Ambuja Cements Limited (transferee company). Ambuja Cements had previously acquired 99.94% of Penna Cement's paid-up equity share capital, making this merger a strategic consolidation move.

Financial Standing

Company:	Excess of Assets over Liabilities
Penna Cement:	₹2,967.75 crores
Ambuja Cements:	₹48,967.16 crores

Regulatory Compliance

The company has fulfilled all regulatory requirements under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The voting results have been submitted in prescribed formats under both the Companies Act 2013 and SEBI Schemes Master Circular dated June 20, 2023. Company Secretary Manish Mistry signed the regulatory filings digitally on December 30, 2025.

With shareholders' approval secured, this merger represents a significant consolidation in the Indian cement industry, strengthening Ambuja Cements' market position and operational capabilities.