The Bombay Stock Exchange and National Stock Exchange have levied a ₹1,600 fine each on Ambuja Cements Limited for delayed appointment of company secretary and compliance officer, the company announced through an exchange filing on Friday. The fine is under Regulation 6(1) of the SEBI Listing Regulations.
Ambuja Cements acquires Sanghi Industries
Ambuja Cements, the cement and building material company of Adani Cement and part of the diversified Adani Group, earlier this month announced the acquisition of Sanghi Industries Limited (SIL) at an enterprise value of Rs 5,000 crore. ACL will acquire 56.74 per cent shares of SIL from its existing promoter group, Ravi Sanghi and family. The acquisition will be fully funded through internal accruals.
Ambuja Cements earnings
Ambuja Cements profit dipped to Rs 645 crore in comparison to Rs 1,048 crore in the last financial year. The net revenue was up by 9 per cent YoY, at Rs. 8,713 crore, EBITDA rose by 55 per cent at Rs. 1,930 crore and EBITDA margin expanded by 6.7 per cent from 15.5 per cent to 22.2 per cent.
Ambuja Cements shares
The shares of Ambuja Cements on Friday morning at 11:23 am IST were trading at Rs 435.90, down by 2.93 per cent.
