SANGHIIND

In March 4 story, corrects paragraph 1 to clarify Ambuja Cements is buying Orient Cement, not India Cements

March 4 (Reuters) - India's antitrust watchdog, approved Ambuja Cements' ABUJ.NS acquisition of Orient Cement ORCE.NS on Tuesday, months after the Adani Group company first announced the deal.

Ambuja Cements, India's second-largest cement maker, in October revealed plans to buy stake worth $451 million in Orient Cement, intensifying competition with industry leader UltraTech Cement ULTC.NS.

Competition in the Indian cement sector has heated up recently, with UltraTech and the Adani Group companies striking a slew of deals to acquire smaller firms and expand their market share.

Analysts had doubted Ambuja's deal would win regulatory approval, considering recent acquisitions that have led to industry oversupply. Ambuja's shares fell 2.3% on October 22 when the deal was first announced.

Since October 22, Ambuja Cements' shares have dropped about 15%, while Orient Cements' shares have fallen nearly 5%.

In recent years, Ambuja has acquired smaller rivals Sanghi Industries SNGI.NS and Penna Cement PENC.NS.

(Reporting by Manvi Pant in Bengaluru; Editing by Tasim Zahid)

(([email protected]; +918447554364;))

Jan 27 (Reuters) - Sanghi Industries Ltd SNGI.NS:

• DEC-QUARTER LOSS 969.6 MILLION RUPEES

• DEC-QUARTER REVENUE FROM OPERATIONS 2.59 BILLION RUPEES

Source text: [ID:]

Further company coverage: SNGI.NS

(([email protected];;))

Dec 17 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• AMBUJA CEMENTS LTD - APPROVED SCHEME OF ARRANGEMENT BETWEEN SANGHI INDUSTRIES AND AMBUJA CEMENTS

• AMBUJA CEMENTS - APPROVED SCHEME OF ARRANGEMENT BETWEEN PENNA CEMENT INDUSTRIES, CO

Further company coverage: ABUJ.NS

(([email protected];))

July 29 (Reuters) - Sanghi Industries Ltd SNGI.NS:

• SANGHI INDUSTRIES LTD JUNE-QUARTER LOSS 888.2 MILLION RUPEES

• SANGHI INDUSTRIES LTD JUNE-QUARTER TOTAL INCOME 2.31 BILLION RUPEES

Source text for Eikon: ID:nBSE69ntLc

Further company coverage: SNGI.NS

(([email protected];))

June 28 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• SANGHI INDUSTRIES LTD - AMBUJA CEMENTS AND RAVI SINGHI HAS SOLD 3.52% STAKE IN CO

Source text for Eikon: ID:nNSE7xQ5Yf

Further company coverage: ABUJ.NS

(([email protected];;))

** Shares of Sanghi Industries SNGI.NS fall 4.3% at 97.85 rupees

** Top shareholders Ambuja Cements ABUJ.NS and Ravi Sanghi propose to sell 3.5% stake in the cement maker at floor price of 90 rupees per share

** Floor price at 12% discount to SNGI's closing price on Tuesday

** Stock down 23% YTD after three consecutive annual gains

(Reporting by Kashish Tandon in Bengaluru)

(([email protected]))

June 25 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• AMBUJA CEMENTS, RAVI SANGHI PROPOSES TO SELL UP TO 3.52% STAKE IN SANGHI INDUSTRIES - EXCHANGE FILING

• FLOOR PRICE FOR OFFER SHALL BE 90 RUPEES PER SHARE - EXCHANGE FILING

Further company coverage: ABUJ.NS

(([email protected];))

** Shares of Sanghi Industries SNGI.NS rise as much as 6.4% to 98.85 rupees; last up 3%

** The cement manufacturer reported a narrowed loss before exceptional items and tax of 53 mln rupees ($635,244.06) from loss of 1.05 bln rupees in the previous year

** Sale of products rose nearly 27% Y/Y

** Co recorded one-time exceptional item related to interest on custom duty dues worth 137.2 mln rupees during the quarter

** Including session's move, stock is down 24.7% YTD

** Stock had gained 81% in 2023, its best yearly gain since 2017

($1 = 83.4325 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

(([email protected]; +91 8805175330 ;))

April 16 (Reuters) - Sanghi Industries Ltd SNGI.NS:

• SANGHI INDUSTRIES TO CONSIDER PROPOSAL FOR RAISING OF FUNDS

Source text for Eikon: ID:nBSE4D6XTq

Further company coverage: SNGI.NS

(([email protected];;))

Adds details, background from paragraph 2

BENGALURU, April 2 (Reuters) - India's Ultratech Cement ULTC.NS said on Tuesday it would set aside 324 billion rupees ($3.89 billion) for ongoing capital expenditure over the next three years.

The move follows increased deal-making in India's cement industry since nearest rival Adani Group bought ACC ACC.NS and Ambuja Cements >, as well as strong demand from the housing and infrastructure sectors on government spending.

Ultratech also revealed on Tuesday the commissioning of two new cement units, bringing its total capacity to 151.6 metric tonnes per annum (MTPA), compared to the Adani Group's 76.1 mtpa as of end-2023.

The company, part of the Aditya Birla Group, also said it was in the process of closing its $645 million acquisition of Kesoram Cement KSRM.NS.

($1 = 83.3460 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Anil D'Silva and Ravi Prakash Kumar)

(([email protected]; Mobile: +91 9591011727;))

March 22 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• AMBUJA CEMENTS CUTS STAKE IN SANGHI INDUSTRIES FROM 62.44% TO 60.44% - FILING

Source text for Eikon: ID:nBSE3TGZ8h

Further company coverage: ABUJ.NS

(([email protected];))

** Shares of cement manufacturer Sanghi Industries SNGI.NS rise as much as 10% to 110.55 rupees, last up 7.5%

** Co says promoter Ambuja Cements ABUJ.NS will sell 2% stake to enable SNGI to comply with minimum public shareholding norms

** SNGI shares snap three-day losing streak

** Stock rises above its 200-day moving average, continues to trade below 50- and 100-day moving averages since early Feb

** Busiest session for SNGI stock since mid-Jan; more than 4 mln shares change hands, over seven times the 30-day average

** Stock down 14% so far this year, had gained 81% in 2023 for best yearly gains since 2017

(Reporting by Dimpal Gulwani in Bengaluru)

(([email protected]))

Dec 7 (Reuters) - Ambuja Cements Ltd ABUJ.NS:

• ACQUISITION OF SHARES REPRESENTING 54.51% OF EQUITY SHARE CAPITAL OF CO BY AMBUJA CEMENTS CONSUMMATED

Source text for Eikon: ID:nBSE6dKztY

Further company coverage: ABUJ.NS

(([email protected];))

Dec 5 (Reuters) - Sanghi Industries Ltd SNGI.NS:

• UPWARD REVISION OF SALE CONSIDERATION FOR NON-CORE SURPLUS LAND BY CO TO INCOR REALTY PROJECTS

• UPWARD REVISION OF SALE CONSIDERATION OF 1.25 BILLION RUPEES

Source text for Eikon: ID:nBSE5ZYq02

Further company coverage: SNGI.NS

(([email protected];))

Adds analyst comment in paragraph 5

By Hritam Mukherjee

BENGALURU, Nov 30 (Reuters) - India's UltraTech Cement ULTC.NS said on Thursday it will buy the cement business of Kesoram Industries KSRM.NS in an all-stock deal valued at 53.79 billion rupees ($645.41 million), in a move to add heft to its hold in the southern part of the country.

As a part of the deal, UltraTech will issue one share for every 52 shares of Kesoram and give UltraTech ownership of two integrated cement units in southern Indian states of Karnataka and Telangana.

The deal implies an offer price of 173.15 rupees per share, a 24.2% premium to Kesoram's last close.

Market leader UltraTech is looking to boost its capacity ambitions in a highly competitive Indian cement sector, months after smaller peer Ambuja Cements ABUJ.NS, owned by billionaire Gautam Adani, bought a majority stake in Sanghi Industries SNGI.NS.

"UltraTech already has one of the best brownfield potential in industry. This deal, if it does go through, would be additive to that and help cement its capacity lead over others, even as other players with larger ambitions ramp up," said Satyadeep Jain, research analyst at Ambit Capital.

The transaction, expected to be completed within 9-12 months, will provide the company "the opportunity to extend its footprint in the highly fragmented, competitive and fast growing Western and Southern markets in the country," UltraTech said.

The proposed transaction will accelerate UltraTech's path to achieving its stated goal of 200 million tons per annum (mtpa) cement capacity in India, it added. According to the company's website, it currently has a consolidated capacity of 137.85 MTPA, with 23 integrated manufacturing units.

With this deal, Kesoram would be left with its smaller business segment - rayon, transparent paper and chemicals.

($1 = 83.3430 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Nivedita Bhattacharjee and Krishna Chandra Eluri)

(([email protected]; X: @MukherjeeHritam;))

BENGALURU, Nov 1 (Reuters) - India's Ambuja Cements ABUJ.NS on Wednesday missed quarterly revenue estimates after higher prices damped sales volumes.

Revenue from operations grew 8% to 39.7 billion rupees ($476.8 million) for the three months ended Sept. 30, but fell short of analysts' estimate of 41.43 billion rupees, according to LSEG data.

Despite infrastructure and real estate demand, higher cement prices and a delayed pickup in monsoon rainfall during the quarter weakened volume growth, analysts had noted earlier.

Sales volumes rose to 7.6 million tonnes (MT) from 7.1 MT a year earlier, but declined sequentially. Centrum Institutional Research had expected sales volumes to rise to 8.1 MT.

Profit after tax jumped nearly five times to 6.44 billion rupees, beating the analysts' estimate on a near-32% slump in power and fuel costs that pulled the total expenses down.

Healthy growth and demand prospects are giving the company the space to build new capacities and "explore upon strategic initiatives to boost profitability," the company said in a statement.

Ambuja had in August said it would buy a near 83% stake in smaller rival Sanghi Industries SNGI.NS for $295 million, in a move to ramp up capacity when the sector is facing intense competition.

The acquisition is expected to close next quarter, it said on Wednesday.

Shares of Ambuja Cements closed 4.2% lower, taking the total losses to 21% this year.

Last month, larger rival UltraTech Cement ULTC.NS topped second-quarter revenue estimates on strong domestic demand.

($1 = 83.2648 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Dhanya Ann Thoppil)

(([email protected]; X: @MukherjeeHritam;))

Aug 14 (Reuters) - Sanghi Industries Ltd SNGI.NS:

• JUNE-QUARTER LOSS 1.89 BILLION RUPEES VERSUS LOSS 328.7 MILLION RUPEES

• JUNE-QUARTER REVENUE FROM OPERATIONS 1.67 BILLION RUPEES VERSUS 3.39 BILLION RUPEES

Source text for Eikon: ID:nBSE80fCFF

Further company coverage: SNGI.NS

(([email protected];;))

BENGALURU, Aug 3 (Reuters) - India's Ambuja Cements ABUJ.NS said on Thursday it will buy a 56.74% stake in smaller rival Sanghi Industries SNGI.NS for an enterprise value of 50 billion rupees ($604.4 million), closing the Adani Group's gap on market leader UltraTech ULTC.NS at a time of booming demand for building materials.

($1 = 82.7270 Indian rupees)

(Reporting by Indranil Sarkar and Kashish Tandon in Bengaluru; Editing by Sonia Cheema)

(([email protected]; Mobile: +91 7022132226;))

Repeats story that ran on Aug 1, with no change to text

By Aditya Kalra

NEW DELHI, Aug 1 (Reuters) - India's Ambuja Cements ABUJ.NS has reached a deal to acquire a majority stake in operations of Sanghi Industries SNGI.NS, two sources with direct knowledge said, a transaction that will add heft to cement operations of billionaire Gautam Adani's firm.

The deal by Ambuja is likely to be announced as soon as Wednesday, the sources said, declining to be named because the decision is not public. They did not share the exact stake percentage.

One of the sources said the deal was done by considering Sanghi's enterprise value at 60 billion rupees ($729 million). India's Economic Times last week reported that Adani was among those leading the race to acquire Sanghi, which was being appraised at that enterprise value.

Adani Group did not respond to a request for comment. Sanghi Cement declined to comment.

Adani is India's second largest cement producer, behind UltraTech Cement ULTC.NS. It owns Ambuja and its subsidiary ACC Ltd ACC.NS, which have a capacity to produce more than 65 million tonnes with more than a dozen manufacturing plants across India.

Sanghi is one of the leading cement manufacturers from Gujarat state in western India. It has a production capacity of 6.1 million metric tonnes per annum, its website says.

A spokesperson for the Adani Group told Reuters in June that cement was a key focus area and there were plans to explore multiple greenfield opportunities.

(Reporting by Aditya Kalra; Editing by Leslie Adler)

(([email protected];))

By Aditya Kalra

NEW DELHI, Aug 1 (Reuters) - India's Ambuja Cements ABUJ.NS has reached a deal to acquire a majority stake in operations of Sanghi Industries SNGI.NS, two sources with direct knowledge said, a transaction that will add heft to cement operations of billionaire Gautam Adani's firm.

The deal by Ambuja is likely to be announced as soon as Wednesday, the sources said, declining to be named because the decision is not public. They did not share the exact stake percentage.

One of the sources said the deal was done by considering Sanghi's enterprise value at 60 billion rupees ($729 million). India's Economic Times last week reported that Adani was among those leading the race to acquire Sanghi, which was being appraised at that enterprise value.

Adani Group did not respond to a request for comment. Sanghi Cement declined to comment.

Adani is India's second largest cement producer, behind UltraTech Cement ULTC.NS. It owns Ambuja and its subsidiary ACC Ltd ACC.NS, which have a capacity to produce more than 65 million tonnes with more than a dozen manufacturing plants across India.

Sanghi is one of the leading cement manufacturers from Gujarat state in western India. It has a production capacity of 6.1 million metric tonnes per annum, its website says.

A spokesperson for the Adani Group told Reuters in June that cement was a key focus area and there were plans to explore multiple greenfield opportunities.

(Reporting by Aditya Kalra; Editing by Leslie Adler)

(([email protected];))

** Shares of Sanghi Industries SNGI.NS up as much as 2% to 74 rupees

** Stock on track for a third consecutive session of gains, if trends hold

** The cement manufacturer on Wednesday said it resumed operations halted due to cyclone Biparjoy at cement plant in Kutch, Gujarat

** As of last close, stock up 3% YTD

(Reporting by Navamya Ganesh Acharya in Bengaluru)

(([email protected]; +91 8805175330 ;))

June 28 (Reuters) - Sanghi Industries Ltd SNGI.NS:

• RESUMED OPERATIONS AT CEMENT PLANT OF CO LOCATED AT SANGHIPURAM , GUJARAT

Source text for Eikon: ID:nBSEbwY0fd

Further company coverage: SNGI.NS

(([email protected];))

** Shares of Sanghi Industries Ltd SNGI.NS open 5% lower at 65.7 rupees, their lowest since April 28

** The cement maker on Wednesday said it discontinued operations at its Sanghipuram cement plant in Gujarat due to Cyclone Biparjoy

** Operations will resume after restoration of normal conditions, adds co

** Authorities in India's western state of Gujarat evacuated more than 75,000 people from vulnerable coastal communities as Biparjoy was expected whirl in from the Arabian Sea to make landfall by Thursday evening

** About 481,282 shares change hands, 0.8x the 30-day avg - Refinitiv Data

** Sanghi stock down 1.4% YTD, as of last close

(Reporting by Priya Sagar in Bengaluru)

(([email protected]))

June 14 (Reuters) - Sanghi Industries Ltd SNGI.NS:

• OPERATIONS AT CEMENT PLANT LOCATED AT SANGHIPURAM, KUTCH DISTRICT, GUJARAT DISCONTINUED WITH EFFECT FROM 13TH JUNE

Further company coverage: SNGI.NS

(([email protected];))

** Shares of Sanghi Industries Ltd SNGI.NS lose 5%, steepest intraday fall in nearly two months, to 71.35 rupees

** Slide after cement maker reports net loss of 1.05 bln rupees ($12.84 million) in March quarter compared with net profit of 63.2 mln rupees Y/Y, dragged by weakness in sales

** Revenue from operations falls 36% to 2.26 bln rupees from 3.55 bln rupees a year earlier

** Co also posts operational loss of 126.4 mln rupees

** Trading volume is 1.42 mln shares as of 12:45 p.m. IST, 2.3 times the 30-day avg - Refinitiv data

($1 = 81.7800 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))