New Delhi, Apr 29 (PTI) Adani group firm Ambuja Cements, which is rapidly expanding its cement manufacturing capacity, aims to reach 118 million tonnes of annual production by the end of this fiscal.

Ambuja Cements, which has acquired several small players in the sector in the last two years as part of its growth ambitions, has already crossed 100 MTPA (million metric tonnes per annum) capacity and is "now the 9th largest cement company in the world", the company said in its earnings statement.

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Adani group, which is competing with Aditya Birla group firm UltraTech Cements, aims to have 140 MTPA capacity by 2028.

"This year marks a historic milestone in the journey of Ambuja Cements as we cross the 100 MTPA capacity. Additionally, we have ongoing organic expansions at various stages across the country, which will help us achieve 118 MTPA capacity by end of FY 2026, a significant step, bringing us closer to our goal of 140 MTPA by 2028," said its CEO Vinod Bahety.

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Adani Cement this month completed the acquisition of the majority stake in the CK Birla group firm Orient Cement.

As per its expansion strategy, the group is expanding its capacity in the cement industry through inorganic route by acquiring small rivals and through brownfield expansion by adding capacity to the existing units.

The Adani group aspires to have 140 MTPA capacity by FY28 pan-India, which will help reduce overall lead distances and logistics costs for the cement business and improve market share in its core markets.

In June 2024, Adani had announced the acquisition of Hyderabad-based Penna Cement at an enterprise value of Rs 10,422 crore, which added 14 MTPA capacity to the country's second-largest manufacturer.

In December last year, it completed the acquisition of Saurashtra-based Sanghi Industries Ltd at an enterprise value of Rs 5,185 crore.

Adani group entered into the cement sector in September 2022, after acquiring controlling stakes in Ambuja Cements from Swiss firm Holcim for cash proceeds of USD 6.4 billion (about Rs 51,000 crore). Ambuja Cements owns a 51 per cent stake in ACC Ltd.

Later it also launched a Rs 31,000-crore open offer for the acquisition of 26 per cent additional stakes from public shareholders.

The Indian cement market is led by Aditya Birla Group firm UltraTech Cement Ltd, which has a consolidated capacity of 183.06 MTPA.

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