Economy & Market

ABG in talks with firms to sell stake in cement biz

Published

12 years ago

January 7, 2013

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To sell a minority stake in its cement business for about $150 million, ABG Group is in talks with private equity and financial firms. The company’s cement business, housed under ABG Cement, has a 6.5-million tonne facility in Kutch, Gujarat, which is expected to be commissioned in a few weeks.

According to Dhananjay L Datar, Director of ABG Group, the potential deal is at a preliminary stage with several parties evincing interest in the cement unit.

People familiar with the matter said that private equity A-listers like Blackstone and KKR have held initial round of talks and that Rishi Agarwal-promoted ABG Group could sell up to 49.9 per cent stake in the cement venture.

The 27-year-old enterprise forayed into the cement business a few years ago as part of its broader plans in the infrastructure space and its access to limestone mines in the western region. Limestone is the key raw material for manufacturing cement.

Concrete

Shree Cement reports 2025 financial year results

Published

6 days ago

June 17, 2025

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Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

6 days ago

June 17, 2025

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Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

6 days ago

June 17, 2025

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According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/