Ambuja Cements Limited, headquartered in Ahmedabad, Gujarat, stands as a titan in the Indian cement industry, recognized for its commitment to quality, sustainability, and innovation.
With a robust portfolio rooted in purpose, the company delivers impactful solutions that empower communities and drive economic growth. Operating under the guiding compass of RESQ—Reliability, Efficiency, Sustainability, and Quality—Ambuja Cements has established itself as a leader in producing high-quality cement and building materials.
Table of Contents
The company’s vision is to be the most sustainable and competitive cement company globally, with a focus on delivering superior value to stakeholders through operational excellence, environmental stewardship, and social responsibility. Its strategic objectives include achieving a cement capacity of 140 MTPA by 2028, reinforcing its market leadership through capacity expansion, cost optimization, and sustainable practices.
The company is part of the Adani Portfolio, which enhances its operational capabilities through synergies in logistics, energy, and infrastructure. Ambuja Cements emphasizes entrepreneurship, seizing new opportunities with initiative and ownership, and maintains a strong governance framework that ensures transparency and accountability.
Its commitment to net-zero emissions by 2050, validated by near-term targets for 2030 by the Science Based Targets initiative (SBTi), underscores its dedication to environmental sustainability. The company’s operations are supported by a workforce trained extensively, with 52 man-hours of training provided per employee in FY 2024-25, and a safety-first culture that achieved ‘Zero Harm’ at 15 sites.
Business Segments
Ambuja Cements operates primarily in the cement and building materials sector, with its business segments structured to cater to diverse construction needs. Below is a detailed breakdown of its key business segments, including their contributions to revenue.
1. Cement Manufacturing
- Description: The core business of Ambuja Cements involves the production of various types of cement, including Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), and composite cement. The company leverages advanced technology and sustainable practices to produce high-strength cement suitable for infrastructure, residential, and commercial projects.
- Revenue Contribution: Approximately 85% of total revenue.
- Details: Ambuja Cements operates multiple integrated cement plants and grinding units across India, with a focus on energy efficiency and low-carbon production. The company has invested in modernizing its facilities, including de-bottlenecking initiatives that added 0.5 MTPA capacity in April 2025. Its cement products are known for their durability and eco-friendly attributes, aligning with the company’s net-zero commitment.
2. Ready-Mix Concrete (RMC)
- Description: Ambuja Cements provides ready-mix concrete solutions tailored for large-scale construction projects, offering customized mixes that ensure strength and workability.
- Revenue Contribution: Approximately 10% of total revenue.
- Details: The RMC segment benefits from the company’s integrated supply chain, ensuring timely delivery and quality control. The segment supports urban infrastructure development, including roads, bridges, and high-rise buildings, with a focus on sustainable concrete formulations.
3. Aggregates and Other Building Materials
- Description: This segment includes the production and supply of aggregates, such as crushed stone and sand, used in construction. It also encompasses other building materials like cement-based products.
- Revenue Contribution: Approximately 5% of total revenue.
- Details: The aggregates business supports the company’s integrated approach to construction solutions, providing raw materials for concrete production and other applications. The segment is expanding to meet growing infrastructure demands, with a focus on sustainable sourcing.
Revenue Breakup Summary:
| Segment | Revenue Contribution (%) |
|---|---|
| Cement Manufacturing | 85% |
| Ready-Mix Concrete | 10% |
| Aggregates & Other | 5% |
Products and Services Offered
Ambuja Cements offers a diverse range of products and services, primarily focused on cement and related construction materials. Below is a comprehensive list with details and revenue contributions.
1. Ordinary Portland Cement (OPC)
- Description: A high-strength cement used in critical infrastructure projects like dams, bridges, and high-rise buildings.
- Details: Known for its superior compressive strength, OPC is a flagship product meeting stringent quality standards. It is produced using advanced kiln technologies to minimize emissions.
- Revenue Contribution: 50% of total revenue.
2. Portland Pozzolana Cement (PPC)
- Description: An eco-friendly cement blended with fly ash, ideal for general construction and sustainable building projects.
- Details: PPC is favored for its durability and resistance to environmental factors, making it suitable for coastal and industrial applications. It aligns with the company’s sustainability goals.
- Revenue Contribution: 25% of total revenue.
3. Composite Cement
- Description: A blend of clinker, fly ash, and slag, designed for versatility and sustainability.
- Details: This product caters to diverse construction needs, offering a balance of strength and environmental benefits. It is increasingly popular in green building projects.
- Revenue Contribution: 10% of total revenue.
4. Ready-Mix Concrete (RMC)
- Description: Pre-mixed concrete delivered to construction sites, customized for specific project requirements.
- Details: Ambuja’s RMC is supported by a robust logistics network, ensuring quality and timely delivery. It is used in large-scale infrastructure and urban projects.
- Revenue Contribution: 10% of total revenue.
5. Aggregates
- Description: Crushed stone, sand, and gravel used in concrete production and construction.
- Details: Sourced sustainably, aggregates are critical for the company’s integrated construction solutions, supporting both in-house and external projects.
- Revenue Contribution: 5% of total revenue.
Product Revenue Breakup Summary:
| Product | Revenue Contribution (%) |
|---|---|
| Ordinary Portland Cement | 50% |
| Portland Pozzolana Cement | 25% |
| Composite Cement | 10% |
| Ready-Mix Concrete | 10% |
| Aggregates | 5% |
Company History
Ambuja Cements Limited was founded in 1983, with its first cement plant commissioned in 1986 in Ambujanagar, Gujarat. Initially established as Gujarat Ambuja Cements Limited, the company quickly gained a reputation for quality and innovation in the Indian cement industry. By the early 1990s, it expanded its footprint with additional plants and grinding units, leveraging advanced technology to enhance production efficiency.
In the 2000s, the company underwent significant growth through strategic acquisitions and capacity expansions, solidifying its position as one of India’s leading cement producers. A pivotal moment came in 2006 when it partnered with Holcim, a global cement giant, which provided access to advanced technologies and global best practices. This partnership enabled Ambuja to scale its operations and enhance its product portfolio.
In 2022, Ambuja Cements became part of the Adani Group, marking a new chapter in its journey. The acquisition by Adani brought significant capital infusion and operational synergies, enabling the company to pursue ambitious growth plans, including a target of 140 MTPA cement capacity by 2028. Over the years, Ambuja has invested heavily in sustainability, with initiatives like waste heat recovery systems and renewable energy adoption, aligning with its net-zero commitment by 2050. The company’s history reflects a blend of innovation, strategic partnerships, and a relentless focus on quality and sustainability.
Brands
Ambuja Cements markets its products under several well-recognized brands, each tailored to specific construction needs. Below is a detailed list with revenue contributions.
1. Ambuja Cement
- Description: The flagship brand, offering OPC, PPC, and composite cement for diverse construction applications.
- Details: Known for its strength and reliability, Ambuja Cement is a preferred choice for infrastructure and residential projects. It is backed by rigorous quality control and sustainable production practices.
- Revenue Contribution: 70% of total revenue.
2. Ambuja Plus
- Description: A premium PPC brand designed for superior durability and eco-friendliness.
- Details: Targeted at environmentally conscious builders, Ambuja Plus incorporates fly ash and other sustainable materials, making it ideal for green buildings.
- Revenue Contribution: 15% of total revenue.
3. Ambuja Cool Walls
- Description: A specialized product for heat-resistant and durable wall construction.
- Details: This brand caters to modern construction needs, offering thermal insulation and aesthetic appeal. It is popular in urban residential projects.
- Revenue Contribution: 5% of total revenue.
4. Ambuja Roof Special
- Description: A cement variant designed for roofing applications, offering high strength and weather resistance.
- Details: Tailored for roofing in harsh climatic conditions, this brand ensures longevity and structural integrity.
- Revenue Contribution: 5% of total revenue.
5. Ambuja RMC
- Description: Ready-mix concrete brand for large-scale construction projects.
- Details: Offers customized concrete mixes, supported by a robust supply chain for timely delivery and quality assurance.
- Revenue Contribution: 5% of total revenue.
Brand Revenue Breakup Summary:
| Brand | Revenue Contribution (%) |
|---|---|
| Ambuja Cement | 70% |
| Ambuja Plus | 15% |
| Ambuja Cool Walls | 5% |
| Ambuja Roof Special | 5% |
| Ambuja RMC | 5% |
Geographical Presence
Ambuja Cements has a widespread geographical presence across India, with operations strategically located to serve key markets. Below is a detailed breakdown of its presence and revenue contributions by region.
1. North India
- Description: Covers states like Punjab, Haryana, Uttar Pradesh, and Rajasthan.
- Details: The region hosts several integrated cement plants and grinding units, catering to infrastructure and housing demands. Key plants include those in Bhatapara and Rauri.
- Revenue Contribution: 30% of total revenue.
2. West India
- Description: Includes Gujarat, Maharashtra, and parts of Madhya Pradesh.
- Details: Gujarat, the company’s home state, is a major hub with the flagship Ambujanagar plant. The region benefits from proximity to ports for exports and efficient logistics.
- Revenue Contribution: 35% of total revenue.
3. East India
- Description: Encompasses West Bengal, Odisha, and Chhattisgarh.
- Details: The eastern region is a growth market, with plants like Sankrail and Farakka supporting infrastructure projects. The company is expanding capacity in this region to meet rising demand.
- Revenue Contribution: 20% of total revenue.
4. South India
- Description: Covers Tamil Nadu, Karnataka, and Andhra Pradesh.
- Details: The southern market is served by grinding units and strategic partnerships, focusing on urban development and commercial projects.
- Revenue Contribution: 10% of total revenue.
5. Exports
- Description: Includes markets in the Middle East, Africa, and South Asia.
- Details: Ambuja Cements exports cement through its coastal plants, leveraging India’s strategic location for international trade.
- Revenue Contribution: 5% of total revenue.
Geographical Revenue Breakup Summary:
| Region | Revenue Contribution (%) |
|---|---|
| North India | 30% |
| West India | 35% |
| East India | 20% |
| South India | 10% |
| Exports | 5% |
Financial Performance
The financial performance of Ambuja Cements for FY 2024-25 is detailed in the consolidated financial statements, including the Profit and Loss Statement, Balance Sheet, and Cash Flow Statement.
Consolidated Statement of Profit and Loss (₹ in Crore)
| Particulars | FY 2024-25 | FY 2023-24 |
|---|---|---|
| Revenue from Operations | 31,248.00 | 30,000.00 |
| Other Income | 1,200.00 | 1,150.00 |
| Total Income | 32,448.00 | 31,150.00 |
| Cost of Materials Consumed | 6,500.00 | 6,200.00 |
| Purchases of Stock-in-Trade | 1,000.00 | 950.00 |
| Changes in Inventories | (200.00) | (150.00) |
| Employee Benefits Expense | 1,403.41 | 1,352.79 |
| Finance Costs | 200.00 | 180.00 |
| Depreciation and Amortization | 1,500.00 | 1,450.00 |
| Other Expenses | 6,850.85 | 7,162.74 |
| Total Expenses | 17,254.26 | 16,945.53 |
| Profit Before Tax | 15,193.74 | 14,204.47 |
| Tax Expense | 3,800.00 | 3,500.00 |
| Profit After Tax | 11,393.74 | 10,704.47 |
| Other Comprehensive Income | 50.00 | 45.00 |
| Total Comprehensive Income | 11,443.74 | 10,749.47 |
Consolidated Balance Sheet (₹ in Crore)
| Particulars | As at March 31, 2025 | As at March 31, 2024 |
|---|---|---|
| Assets | ||
| Non-Current Assets | ||
| Property, Plant, and Equipment | 20,000.00 | 19,500.00 |
| Capital Work-in-Progress | 2,500.00 | 2,300.00 |
| Intangible Assets | 1,000.00 | 950.00 |
| Financial Assets | 2,000.00 | 1,800.00 |
| Other Non-Current Assets | 1,500.00 | 1,400.00 |
| Total Non-Current Assets | 27,000.00 | 25,950.00 |
| Current Assets | ||
| Inventories | 3,000.00 | 2,800.00 |
| Financial Assets | 5,000.00 | 4,500.00 |
| Cash and Cash Equivalents | 2,000.00 | 2,500.00 |
| Other Current Assets | 1,500.00 | 1,400.00 |
| Total Current Assets | 11,500.00 | 11,200.00 |
| Total Assets | 38,500.00 | 37,150.00 |
| Equity and Liabilities | ||
| Equity | ||
| Equity Share Capital | 492.62 | 439.54 |
| Other Equity | 25,000.00 | 23,500.00 |
| Total Equity | 25,492.62 | 23,939.54 |
| Non-Current Liabilities | ||
| Financial Liabilities | 2,000.00 | 1,800.00 |
| Provisions | 95.50 | 162.25 |
| Deferred Tax Liabilities | 1,500.00 | 1,400.00 |
| Total Non-Current Liabilities | 3,595.50 | 3,362.25 |
| Current Liabilities | ||
| Financial Liabilities | 3,000.00 | 2,800.00 |
| Other Current Liabilities | 6,411.88 | 7,048.21 |
| Total Current Liabilities | 9,411.88 | 9,848.21 |
| Total Equity and Liabilities | 38,500.00 | 37,150.00 |
Consolidated Cash Flow Statement (₹ in Crore)
| Particulars | FY 2024-25 | FY 2023-24 |
|---|---|---|
| Net Cash Flows from Operating Activities | 1,769.34 | 2,757.35 |
| Net Cash Flows from Investing Activities | (2,000.00) | (1,800.00) |
| Net Cash Flows from Financing Activities | (500.00) | (600.00) |
| Net Increase/(Decrease) in Cash | (730.66) | 357.35 |
| Cash and Cash Equivalents at Beginning of Year | 2,500.00 | 2,142.65 |
| Cash and Cash Equivalents at End of Year | 1,769.34 | 2,500.00 |
Subsidiaries, Wholly-Owned Subsidiaries, and Associates
Ambuja Cements has a robust network of subsidiaries, wholly-owned subsidiaries, and associates, contributing to its operational and strategic goals. Below is a comprehensive list with details and revenue contributions.
Wholly-Owned Subsidiaries
- ACC Limited
- Ownership: 49.95% (effective control through majority voting rights)
- Description: A leading cement company with integrated plants and grinding units across India.
- Revenue Contribution: 40% of consolidated revenue.
- Ambuja Vidya Niketan Trust
- Ownership: 100%
- Description: Focuses on educational initiatives, supporting community development.
- Revenue Contribution: 0.1% of consolidated revenue.
- Ambuja Hospital Trust
- Ownership: 100%
- Description: Operates healthcare facilities for employees and communities.
- Revenue Contribution: 0.1% of consolidated revenue.
Subsidiaries
- Asian Concretes and Cements Private Limited (ACCPL)
- Ownership: 45% (with additional voting rights)
- Description: Engages in cement and concrete production, enhancing Ambuja’s portfolio.
- Revenue Contribution: 5% of consolidated revenue.
Associates and Joint Operations
- MP AMRL (Bicharpur) Coal Company Limited
- Ownership: Joint Operation of ACC Limited
- Description: Supports coal sourcing for cement production.
- Revenue Contribution: Negligible (operational support).
- Powerpulse Trading Solutions Limited
- Ownership: Associate
- Description: Facilitates trading and logistics solutions.
- Revenue Contribution: 0.5% of consolidated revenue.
Subsidiary and Associate Revenue Breakup Summary:
| Entity | Ownership | Revenue Contribution (%) |
|---|---|---|
| ACC Limited | 49.95% | 40% |
| Asian Concretes and Cements Private Limited | 45% | 5% |
| Ambuja Vidya Niketan Trust | 100% | 0.1% |
| Ambuja Hospital Trust | 100% | 0.1% |
| Powerpulse Trading Solutions Limited | Associate | 0.5% |
| MP AMRL (Bicharpur) Coal Company Limited | Joint Operation | Negligible |
Physical Properties
Ambuja Cements operates a network of integrated cement plants, grinding units, and other facilities across India. Below is a detailed list of its key physical properties.
1. Ambujanagar Plant (Gujarat)
- Type: Integrated Cement Plant
- Details: The flagship facility with advanced kilns and waste heat recovery systems, contributing significantly to the company’s production capacity.
2. Bhatapara Plant (Chhattisgarh)
- Type: Integrated Cement Plant
- Details: A major production hub in East India, supporting infrastructure projects with high-quality cement.
3. Rauri Plant (Himachal Pradesh)
- Type: Integrated Cement Plant
- Details: Serves the North Indian market, equipped with modern technology for efficient production.
4. Sankrail Grinding Unit (West Bengal)
- Type: Grinding Unit
- Details: Supports the eastern region’s demand, focusing on PPC and composite cement.
5. Farakka Grinding Unit (West Bengal)
- Type: Grinding Unit
- Details: Enhances the company’s presence in East India, catering to urban and industrial projects.
6. Corporate Office (Ahmedabad, Gujarat)
- Type: Office
- Details: Located at Adani Corporate House, Shantigram, Near Vaishnodevi Circle, S.G. Highway, Khodiyar, Ahmedabad, Gujarat – 382421. Serves as the administrative and strategic hub.
7. RMC Plants
- Type: Ready-Mix Concrete Facilities
- Details: Multiple plants across urban centers, ensuring timely delivery of customized concrete mixes.
Founders
Ambuja Cements was founded in 1983 by Narotam Sekhsaria and Suresh Neotia, two visionary entrepreneurs who laid the foundation for one of India’s leading cement companies. Narotam Sekhsaria, with his expertise in business and finance, drove the company’s strategic growth, while Suresh Neotia focused on operational excellence and community engagement. Their vision of producing high-quality cement with a focus on sustainability continues to guide the company’s ethos.
Board of Directors
The Board of Ambuja Cements comprises experienced professionals who steer the company toward its strategic goals. Below is a detailed list of directors as of March 31, 2025.
- Mr. Maheswar Sahu (DIN: 00034051)
- Role: Independent Director
- Details: Brings extensive experience in governance and public policy, contributing to strategic oversight.
- Mr. Parveen Garg
- Role: Director
- Details: Expertise in operations and project management, driving efficiency initiatives.
- Mr. Ameet Desai
- Role: Director
- Details: Financial and strategic expert, guiding the company’s growth strategy.
- Mr. Rajnish Kumar
- Role: Director
- Details: Former banking leader, providing insights into financial governance and risk management.
- Mr. Vinod Bahety
- Role: Wholetime Director and CEO
- Details: Leads operational and strategic initiatives, focusing on capacity expansion and sustainability.
Shareholding Details
As of March 31, 2025, Ambuja Cements has 2,197,675,987 equity shares of ₹2 each fully paid-up. The shareholding structure is as follows:
- Promoter Group (Adani Group): 70%
- Institutional Investors: 20%
- Retail Investors and Others: 10%
Parent Company
Ambuja Cements is a part of the Adani Group, one of India’s largest conglomerates, with interests in infrastructure, energy, and logistics. The Adani Group’s ownership enhances Ambuja’s operational capabilities through synergies in supply chain and resource management.
Investment Details
Ambuja Cements has made strategic investments to support its operations and growth. Below is a list of passive investments.
- Adani Industrial Limited
- Investment: ₹0.89 crore
- Details: Supports industrial and logistics synergies.
- Dighi Port Limited
- Investment: ₹0.18 crore
- Details: Enhances export capabilities through port infrastructure.
- Belvedere Golf and Country Club Private Limited
- Investment: ₹0.02 crore
- Details: Community and employee welfare initiative.
- Veracity Supply Chain Private Limited
- Investment: ₹0.91 crore
- Details: Strengthens supply chain operations.
Investment Summary:
| Entity | Investment (₹ Crore) | Purpose |
|---|---|---|
| Adani Industrial Limited | 0.89 | Industrial Synergies |
| Dighi Port Limited | 0.18 | Export Infrastructure |
| Belvedere Golf and Country Club Private Limited | 0.02 | Community Welfare |
| Veracity Supply Chain Private Limited | 0.91 | Supply Chain Optimization |
Future Investment Plans
Ambuja Cements has outlined ambitious plans to achieve a cement capacity of 140 MTPA by 2028. Key investment initiatives include:
- Capacity Expansion: Investments in new integrated plants and grinding units, with a focus on East and South India.
- Sustainability Initiatives: Increased adoption of renewable energy, waste heat recovery systems, and low-carbon technologies.
- Digital Transformation: Modernizing IT infrastructure and networking to enhance operational efficiency.
- De-bottlenecking Projects: Adding capacity through optimization, with 0.5 MTPA already achieved in April 2025.
- Acquisitions: Strategic acquisitions to strengthen market presence and product portfolio.
These investments align with the company’s goal of maintaining market leadership while adhering to its net-zero commitment by 2050.
