Displaying items by tag: Orient Cement

India: Orient Cement has appointed Vaibhav Dixit as its CEO. He succeeds Desk Deepak Khetrapal, who has resigned from the post. Other notable appointments include that of Vinod Bahety as chair and Kajal Sarda as chief financial officer.

Dixit has worked in the cement industry for more than 20 years with jobs at ACC, including Unit Head of Jamul Cement Works, Unit Head of Sindri Cement Works, Project Head at Sindri, Head Engineering of Bargarh Cement Works and Chief Manager Maintenance of Kymore Cement Works. He holds a bachelor’s degree in engineering from the Madhav Institute of Technology and Sciences.

Bahety became the CEO of Ambuja Cements and ACC earlier in April 2025. Prior to this, he was the CFO of the subsidiaries of Adani Group from 2022. He also worked as the Group Head for Merger & Acquisition at Adani Group. He holds qualifications as a chartered accountant and a cost and works accountant.

Sarda, a trained chartered accountant, has worked for other 20 years in business finance. She has been the Head of Financial Reporting at Adani Gorup since 2023. Prior to this, she worked for as Corporate Finance Controller for Hindustan Zinc and as a Marketing Controller at Bharat Aluminium Company.

Ambuja Cements secured approval from the Competition Commission of India in March 2025 to buy Orient Cement.

India: The Competition Commission of India has approved Ambuja Cements’ acquisition of Orient Cement, months after the Adani Group company announced the US$451m deal, according to The Economic Times.

Ambuja Cements first revealed plans to acquire Orient Cement in October 2024, intensifying its competition with rival UltraTech Cement.

The Indian cement sector has seen increased competition recently, with both UltraTech and Adani Group companies acquiring smaller firms to expand market share. Analysts had questioned whether the acquisition would secure regulatory approval due to industry oversupply concerns.

India: Adani Group subsidiary Ambuja Cements has entered talks for the acquisition of Orient Cement (OCL) at a value of US$451m. Ambuja Cements will acquire 47% of OCL's shares from its current promoters and certain public shareholders, fully funded through internal accruals. Orient Cement has two cement plants in the south and one in western India, according to Reuters.

Director of Ambuja Cements, Karan Adani, said "This timed acquisition marks another significant step forward in Ambuja Cements' accelerated growth journey, increasing cement capacity by 30Mt/yr within two years of Ambuja's acquisition. By acquiring OCL, Ambuja is poised to reach 100Mt/yr cement capacity in the financial year 2025. The acquisition will help to expand Adani Cement's presence in core markets and improve its pan-India market share by 2%. OCL's assets are highly efficient, equipped with railway sidings and well supported by captive power plants, renewable energy, waste heat recovery systems, and alternative fuel and raw material facilities. OCL's strategic locations, high-quality limestone reserves and requisite statutory approvals present an opportunity to increase cement capacity in the near term to 16.6Mt/yr."

India: Orient Cement has won an order from Madhya Pradesh Power Generating Co to install a clinker grinding unit at Satpura Thermal Power Station, Sarni. The ‘work order’ was issued by the company to install the grinding unit, along with a 25-year fly ash supply contract. Earlier in August 2024, Orient Cement said that it anticipates a robust demand recovery in the second half of the financial year post-monsoon.

India: JSW Cement has entered the competition to acquire a 38% stake in Orient Cement from the CK Birla Group, against UltraTech Cement and Adani Group. UltraTech Cement is reportedly in advanced discussions with CK Birla, having proposed a share price range of US$4.18 - 4.48, which places the enterprise value at US$872m-931m. The Adani Group has also expressed interest in acquiring Orient Cement, although their negotiations have been hindered by valuation disputes and environmental clearance issues.

India: UltraTech is in talks to acquire Orient Cement, restarting discussions amid significant sector consolidation. This development follows UltraTech's recent acquisition of a 23% stake in India Cements. UltraTech has proposed buying Orient Cement for US$4.43-4.49 per share, offering a substantial premium over its current market value, with the deal valuing Orient at about US$874-$934m.

India: Orient Cement has successfully commissioned Phase 2 of the new waste heat recovery (WHR) plant at its Chittapur cement plant in Karnataka. Reuters has reported that the new phase raises WHR power capacity at the plant to 10.1MW.

India: CK Birla Group has approached Adani Group as a possible buyer for its 38% stake in Orient Cement. Mint News has reported that CK Birla Group has previously rejected offers from other local cement producers for the stake. The group is reportedly seeking ‘double’ its market value of US$466m.

Orient Cement plans to make capital expenditure investments worth US$120m/yr up to the end of the 2025 financial year on 31 March 2023.

India: Orient Cement has commissioned a waste heat recovery (WHR) plant at its Chittapur cement plant in Karnataka. Reuters has reported that the producer plans to subsequently scale up the WHR plant in a second construction phase.

India: CK Birla Group subsidiary Orient Cement has concluded a share subscription and shareholders' agreement with Cleantech India to acquire a 29% stake in Ardeur Renewables for US$1.16m. Ardeur Renewables is building a 16MW solar power plant at Orient Cement’s Chittapur cement plant in Karnataka and a 5.5 MW solar power plant at Orient Cement’s Jalgaon cement plant in Maharashtra. The cement producer says that the acquisition will help it to further increase its renewables usage and optimise its energy costs.