Formerly | Gujarat Ambuja Cements Limited (1983–2007) |
---|---|
Company type | Public |
BSE: 500425 NSE: AMBUJACEM | |
Industry | Building materials |
Founded | 1983 |
Headquarters | Mumbai, Maharashtra, India |
Key people | Gautam Adani (Chairman) Suresh Kumar Neotia (Founder) Narotam Sekhsaria (Co-Founder and Chairman Emeritus) [1] Ajay Kapur (Whole-time Director & CEO) [2] |
Products | Cement |
Revenue | ₹ 18,772 crore (US$2.2 billion) (2024) [3] |
₹3,103 crore (US$370 million) (2024) [3] | |
₹2,335 crore (US$280 million) (2024) [3] | |
Total assets | ₹44,129 crore (US$5.3 billion) (2024) [3] |
Total equity | ₹37,006 crore (US$4.4 billion) (2024) [3] |
Owner | Adani Group (63.2%) |
Number of employees | 4,330 (2024) [3] |
Parent | Adani Group |
Website | www |
Ambuja Cements Limited, formerly known as Gujarat Ambuja Cement Limited (GACL), is a major Indian cement producing company. [4] The Group markets cement and clinker for both domestic and export markets.
The company had entered into a strategic partnership with Holcim, the second-largest cement manufacturer in the world from 2006. Holcim had, in January, bought a 14.8 percent promoters' stake in the GACL for ₹2,140 crore. [5]
From 2010 to 2022, Holcim held a 61.62% controlling stake in Ambuja Cements. [6] On 14 April 2022, Holcim announced that it would exit from the Indian market after 17 years of operations as part of a strategy to focus on core markets, and listed its stakes in Ambuja Cements and ACC for sale. [7] On May 15, 2022, Adani Group acquired Holcim's stake in Ambuja Cements and ACC for US$10.5 billion. [8]
The Rinker Group was an Australian-headquartered multinational building products company. Before its acquisition by Cemex, it was listed on both the Australian Securities Exchange and the New York Stock Exchange.
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Suresh Kumar Neotia was an Indian industrialist, entrepreneur, art collector, philanthropist and the co-founder of Ambuja Cements and associated companies. He was the chairman of the Group till 2009 when he relinquished the position in favor of his co-founder, Narotam Sekhsaria, and remained as the Chairman Emeritus of the Group until his death. He was a recipient of Harvard Business School - Economic Times Award and was involved in many social activities which included the promotion of cultural organizations such as Anamika Kala Sangam and Padatik. The Government of India awarded him the third highest civilian honour of the Padma Bhushan, in 2008, for his contributions to trade and industry.
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