## Ambuja Cements Acquires My Home Group's Cement Grinding Unit in Tuticorin
Ambuja Cements, a subsidiary of the Adani Group, has acquired My Home Group's 1.5 MTPA cement grinding unit in Tuticorin, Tamil Nadu for Rs 413.75 crore. This strategic acquisition strengthens Ambuja's footprint in the southern markets of Tamil Nadu and Kerala.
Strategic Location: Situated near the Tuticorin Port, the facility benefits from a long-term fly ash agreement, ensuring cost-efficiency from the outset.
The limited availability of limestone in Tamil Nadu presents a unique advantage, allowing for the cost-efficient movement of clinker from Ambuja's Sanghipuram plant.
Ambuja will inherit the existing dealer network and retain current employees, facilitating a smooth transition and rapid ramp-up of utilization.
"This acquisition strengthens our foothold in the region and aligns perfectly with our commitment to delivering high-quality products and services to our customers."
This acquisition comes amidst a strong financial performance for Ambuja Cements. The company reported a standalone net profit of Rs 513.69 crore for the third quarter of FY24, a 39.2% increase from the previous year.
Revenue from operations increased by 7.5% YoY to Rs 4,439.5 crore.
Sales volume rose to 8.2 million tonnes from 7.7 million tonnes in the same period last year.
EBITDA increased by 33% to Rs 851.1 crore, while EBITDA margin improved by 370 basis points to 19.2%.
Ambuja Cements Limited is one of India's leading cement companies. Along with its subsidiaries ACC Ltd and Sanghi Industries Ltd, Ambuja has a combined cement capacity of 78.9 MTPA, with 18 integrated cement manufacturing plants and 19 cement grinding units across the country.