Slides
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1 Investor Presentation | Q3 & 9M FY’26 Ambuja Cements ONE CEMENT PLATFORM
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Consolidated Highlights: 9MFY’26 2 Cement Volume (MnT) 45.3 53.8 9M FY'25 9M FY'26 +19% YoY Revenue (Rs Cr) EBITDA (Rs Cr) EBITDA (PMT) +22% YoY +62% YoY +36% YoY 24,392 29,740 9M FY'25 9M FY'26 3,139 5,075 9M FY'25 9M FY'26 692 943 9M FY'25 9M FY'26 Performance at a Glance 9MFY’26 Ambuja Cement Consolidated * * * Normalised basis excluding one-time income of Rs.826 Cr and GST incentive Rs 138 Cr Net worth at Rs. 69,854 Cr | Company Remains Debt Free | Highest rating of Crisil and CARE - AAA (Stable) / A1+ *
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Consolidated Highlights: Q3FY’26 3 Cement Volume (MnT) 16.2 18.9 Q3FY'25 Q3FY'26 +17% YoY Revenue (Rs Cr) EBITDA (Rs Cr) EBITDA (PMT) +20% YoY +53% YoY +31% YoY 8,585 10,277 Q3FY'25 Q3FY'26 885 1,353 Q3FY'25 Q3FY'26 548 718 Q3FY'25 Q3FY'26 Performance at a Glance Q3FY’26 Ambuja Cement Consolidated * * Company will continue to have a double-digit growth in volume, revenue, and cost leadership, which in turn will help it to achieve target of Rs 1,500 EBITDA PMT by exit of Mar’28 * * Normalised basis excluding one-time income of Rs.826 Cr
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Business Highlights Amalgamation of ACC Limited and Orient Cement Limited with Ambuja Cements Limited, creating a unified ‘One Cement Platform’, towards long-term value creation ONE CEMENT PLATFORM Operational Updates: Q3FY’26 Total Cement Capacity at 109 MTPA with 2.4 MTPA Marwar Grinding Unit successfully operationalised Commissioned 225 MW solar power, taking renewable energy capacity to 898 MW; and remaining on track for 1,122 MW by FY27 RENEWABLE POWERCAPACITY EXPANSION CiNOC gaining momentum, sales ground force empowered with smart tabs FutureX now engages 750+ institutions (Engineering colleges / Schools), covering over 1.3 million students, largest industry–academia initiative STRATEGIC INITIATIVES CiNOC: Cement Intelligent Network Operating Centre Improvement in capacity utilization of acquired assets: 37% (Q3FY’25) >>> 58% (Q3FY’26) >>> 65% (Dec’25 Exit) and on the path to achieve ~80%
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Ambuja: P AN India Cement Powerhouse 5 1 2 3 7 ONE CEMENT PLATFORM Operational and Financial Synergies Strong and Debt-Free Balance Sheet Direct Shareholding in a Stronger Entity Stakeholder-Centric Approach 4 5 6 Simplified Corporate Structure Unified ESG Leadership Enhanced Scale and Market Leadership Amalgamation of ACC and Orient with Ambuja Cements, creating a unified ‘One Cement Platform’
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Status Update on Consolidation 6 ACC Limited • The Board approved the amalgamation on 22nd Dec’25 • ACC and Ambuja filed their respective merger scheme with the Stock Exchanges • The Companies are currently awaiting No-Objection Certificate (NOC) from SEBI • Completion of the transaction is subject to requisite approvals and is expected over FY27 Sanghi Industries Limited • Board approval received on 17th Dec’24 for merger with Ambuja • Both companies conducted their respective shareholder meetings on 20th Nov’25. The NCLT hearing completed on 29th Jan 26. The outcome of the matter is awaited as on the time of approval of this financial results • The entire process is expected to be completed by Mar’26 Orient Cement Limited • The Board approved the amalgamation on 22nd Dec’25 • Orient and Ambuja filed their respective merger scheme with the Stock Exchanges • The Companies are currently awaiting No-Objection Certificate (NOC) from SEBI • Completion of the transaction is subject to requisite approvals and is expected over FY27 Penna Cement Industries Limited • Board approval received on 17th Dec’24 for merger with Ambuja • NCLT has scheduled the final hearing on 19th Feb’26 • The entire process is expected to be completed by Mar’26, subject to NCLT issuing its final order 01 03 02 04
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Commissioned 2.4 MTPA brownfield Cement Grinding Unit in Marwar Mundwa, Rajasthan, increasing Ambuja’s total capacity to ~109 MTPA Inauguration of ASCENT by Mr. Karan Adani, Non -Executive Director and Mr. Vinod Bahety, CEO – Cement Business Inauguration by Mr. Karan Adani, Non -Executive Director and Mr. Vinod Bahety, CEO – Cement Business Marwar Vertical Roller Cement Mill
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Commissioned 4 MTPA brownfield Clinker Unit in Bhatapara, Chhattisgarh, raising total consolidated clinker capacity to 66 MTPA Line 3 Bhatapara Clinker unit (line 3) Kiln light up by Mr. Vinod Bahety, CEO – Cement Business Clinker Silo
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Growth T rajectory Capacity (MTPA) EBITDA (₹ per tonne) Green Power Share (%) Waste Heat Recovery System (MW) Renewable Power (MW) 68 109 115 155 At the time of Acquisition (Sept'22) Dec'25 Mar'26 Mar'28 738 943 1,500 At the time of Acquisition (Sept'22 TTM) Dec'25 Mar'28 7% 38% 60% At the time of Acquisition (Sept'22) Dec'25 Mar'28 40 228 376 At the time of Acquisition (Sept'22) Dec'25 Mar'28 83 898 1,122 At the time of Acquisition (Sept'22) Dec'25 Mar'27 9 1. including 15 MTPA debottlenecking 1 2. Existing assets delivered (Ambuja+ACC) EBITDA of Rs. 1,045 PMT 2 3 3 3. 9MFY’26 Cost Reduction Journey Rs < 4,000 PMT (Dec’25 Exit) Rs < ~4,000 PMT (Mar’26 Exit) Rs < ~3,800 PMT (Mar’27 Exit) Rs < ~3,650 PMT (Mar’28 Exit) • Ambuja Cement is strategically embedded in India’s growth story, and backed by Adani’s infra engine • Cost leadership to help achieve an EBITDA of Rs 1,500 PMT. This will be enabled by improved operating leverage, brand strengths and synergies within the Adani ecosystem 4 4. This includes renewable energy exported to the grid that helped offset conventional power consumption and contributed to a reduction in associated emissions * Including brownfield expansion of Cement Grinding Unit in Marwar Mundwa *
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Builders of Progress in India Value Creation Stakeholders • Net worth at Rs. 69,854 Cr,, continue to remain debt free, highest rating of Crisil and CARE - AAA (Stable) / A1+ • Healthy cash flows to sustain the Capex program Societal • 6 Million people benefited under community development projects Environmental • Adani Cement has planted 7.2 million trees till Q3 FY’26 as part of its commitment to plant 8.3 million trees, aligned with Adani Group's pledge to grow 100 million trees by 2030 • The Company remains water positive at 14 times in Q3 FY’26, with Zero Liquid Discharge (ZLD) maintained across all manufacturing sites. 100% of waste water generated is treated onsite and recycled for dust suppression and cooling purpose. Development Capacity Roadmap • Total Cement Capacity at 109 MTPA with 2.4 MTPA Marwar Grinding Unit successfully operationalised • On track to achieve target capacity of 155 MTPA by Mar’28 exit Cost Leadership • Ongoing Capex and Opex efficiency initiatives will help achieve the cost target of Rs 3,650 PMT by Mar’28 exit • Green power share, improved by 18.3 pp to 38% (9M FY26), target to reach 60% by Mar’28 exit Market Leadership • With a comprehensive focus on value and market share, realizations improved by Rs 5/bag YoY, market share at 16.6%, share of premium cement sustained at 35% of trade sales (volume growth of premium cement is 31% YoY). • GST 2.0 reforms helped aspiring customers to prefer Ambuja Kawach and ACC Gold & Super premium products Operations Asset Footprint • The amalgamation of ACC and Orient Cement with Ambuja was announced, creating a pan-India cement powerhouse under a single corporate structure. • Existing assets delivered EBITDA of ~Rs. 1,045 PMT (9MFY’26) Digitalisation • CiNOC (Cement Intelligent Network Operations Centre) launched to infuse in operations & businesses AI layer deep into our enterprise fabric, will facilitate paradigm shift in operations • Enhanced procurement and finance processes with ARIBA and automated invoice posting Sales & Marketing Excellence • A comprehensive focus on market share gain and R&D led premium cement offerings has enabled differentiated performance both in volume growth and improved realizations. • Analytics and digitalization to help simplify sales organization structure resulting in improved productivity 10
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Contents Adani Group Profile 1 2 3 4 5 Ambuja Cements Overview ESG Updates Performance Highlights Annexures 11
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Adani Group Profile01 12
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Adani Portfolio: A world class infrastructure and utility portfolio 13 (%): Adani Family equity stake in Adani Portfolio companies (%): AEL equity stake in its subsidiaries (%): Ambuja equity stake in its subsidiaries A multi-decade story of high growth centered around infrastructure & utility core AGEL Renewables AESL T&D ATGL2 Gas Discom APL IPP (62.43%) (71.19%) (37.40%) (74.96%) APSEZ3 Ports & Logistics (68.02%) ANIL New Industries AdaniConneX6 Data Centre (100%) (50.00%) AAHL Airports ARTL Roads (100%) (100%) Energy & Utility Transport & Logistics NDTV7 (69.02%) Materials, Metal & Mining Ambuja Cements5 (67.64%)4 ACC5 (50.05%) Primary Industry Specialty Other AEL1 (73.97%) Incubator Flagship Copper, Aluminum Mining Services & Com. Mining (100%) (100%) PVC (100%) Listed cos Direct Consumer Infrastructure & Utility Core Portfolio Specialist Manufacturing8 (100%) GCC (100%) Sanghi5 (58.08%) Orient5 (72.66%) 1. AEL has raised INR 24,930 Cr through issuance of right shares during December’25. 2. ATGL: Adani Total Gas Ltd, JV with Total Energies | 3. NQXT: North Queensland Export Terminal : On 23rd Dec’25, APSEZ successfully completed acquisition, having satisfied all pending regulatory approvals . Also, the Company has allotted 14,38,20,153 Equity Shares of face value of Rs. 2 each to Promoter Group Entity on preferential basis as purchase consideration . | 4. Ambuja Cement’s shareholding does not include Global Depository Receipt of 0.04% but includes AEL shareholding of 0.35% received as part of the consideration against transfer of Adani Cementation Limited as per NCLT order dated 18th July’25 | 5. Cement includes 67.64% (67.68% on Voting Rights basis) stake in Ambuja Cements Ltd . as on 31 st Dec’ 25 which in turn owns 50.05% in ACC Limited . Adani directly owns 6.64% stake in ACC Limited & Ambuja Cements Ltd . holds 58.08% stake in Sanghi Industries Ltd . & 72.66% stake in Orient Cement Ltd .| 6. Data center, JV with EdgeConnex | 7. Promoter holding in NDTV has increased to 69.02% post completion of right issue in the month of Oct’25 | 8. Includes the manufacturing of Defense and Aerospace Equipment | AEL : Adani Enterprises Limited | APSEZ : Adani Ports and Special Economic Zone Limited | AESL : Adani Energy Solutions Limited | T&D : Transmission & Distribution | APL : Adani Power Limited | AGEL : Adani Green Energy Limited | AAHL : Adani Airport Holdings Limited | ARTL : Adani Roads Transport Limited | ANIL : Adani New Industries Limited | IPP : Independent Power Producer | NDTV : New Delhi Television Ltd | PVC : Polyvinyl Chloride | GCC : Global Capability Centre l Promoter’s holdings are as on 31 st December, 2025 .
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Adani Portfolio: Best-in class growth with national footprint 14 EBITDA: Earning before Interest Tax Depreciation & Amortization I EBITDA: PAT + Share of profit from JV + Tax + Deferred Tax + Depreciation + Finance Cost + Forex Loss / (Gain) + Exceptional Items | FFO: Fund Flow from Operations l FFO : EBITDA – Actual Finance cost paid (excl. Capitalized Interest, incl. Int. on Lease Liabilities)– Tax Paid l AEL: Adani Enterprises Limited l APSEZ: Adani Ports and Special Economic Zone Limited l AGEL: Adani Green Energy Limited | ATGL: Adani Total Gas Limited l AESL: Adani Energy Solutions Limited l APL: Adani Power Limited 1,668 5,109 10,418 22,819 12,784 65,016 24,870 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Sept'25 TTM Tax paid Finance cost paid CAT (FFO) 92,943 EBITDA EBITDA (51%) (74%) (42%) (21%) Predictable, high and rising free cash flow National footprint with deep coverage AEL Ambuja Cement APSEZ AESL APL ATGL AGEL Adani’s Core Infra. Platform – 350 Mn Userbase
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Adani Portfolio: Repeatable, robust & proven transformative model of investment 15 PERFORMANCE 55%31% 14% ACTIVITY CONSUMERS • Delivering exceptional products & services for elevated engagement • Differentiated and many P&Ls Inspired Purpose & Value Creation New C.E.O. Consumer I Employees I Other Stakeholders OPERATIONS • Life cycle O&M planning • Asset Management plan Operation Operations (AIMSL) 2 DEVELOPMENT1 • Site acquisition • Concessions & regulatory agreements • Engineering & design • Sourcing & quality • Project Management Consultancy (PMC) Site Development Construction Adani Infra (India) Limited | Cemindia Projects Ltd. | PSP Projects Ltd. Origination • Analysis & market intelligence • Viability analysis India’s Largest Commercial Port (at Mundra) Longest Private HVDC Line in Asia (Mundra - Mohindergarh) World’s largest Renewable Cluster (at Khavda) CAPITAL MANAGEMENT Strategic value Mapping Investment Case Development Growth Capital – Platform Infrastructure Financing Framework Duration Risk Matching Risk Management – Rate & Currency Governance & Assurance Diversified Source of Capital March 2016 Cement Intelligent Network Operations Centre (CiNOC) Policy, Strategy & Risk Framework Human Capital Development • Leadership Development Initiatives • Investment in Human Capital AI enabled Digital Transformation • Power Utility Business - ENOC • City Gas Distribution - SOUL • Transportation Business - AOCC Continued Focus & Investment ENABLER Adani’s Core Infra. Platform – 350 Mn Userbase 7% 20% 25% 1% 25% 4% 19% Sept’ 2025 PSU Banks Pvt. Banks USD Bonds DII Global Int. Banks NBFCs & FIs Long Term Debt Capex LC Note : 1. Cemindia Projects Ltd. (formerly known as ITD Cementation India Ltd.): the total shareholding stands at 67.46%. PSP Projects Ltd.: the total shareholding stands at 34.41%.| 2. Adani Environmental Resource Management Services Ltd. (additional company is being proposed) | O&M: Operations & Maintenance l HVDC: High voltage direct current l PSU: Public Sector Undertaking (Public Banks in India) l GMTN: Global Medium-Term Notes l SLB: Sustainability Linked Bonds l AEML: Adani Electricity Mumbai Ltd. l AIMSL : Adani Infra Mgt Services Pvt Ltd l IG: Investment Grade l LC: Letter of Credit l DII: Domestic Institutional Investors l COP26: 2021 United Nations Climate Change Conference l AGEL: Adani Green Energy Ltd. l NBFC: Non-Banking Financial Company l AIIL: Adani Infra (India) Ltd. | AOCC : Airport Operations Control Center
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02 Ambuja Cements - Overview 16
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Adani Cement in Global Context 17 Adani Cement in Global Context 01 Ambuja Cements is the world’s ninth-largest cement company and among the fastest- growing globally, with a presence across diverse geographies and the world’s highest altitude cement plant. Ambuja Cements is pioneering the world’s first commercial deployment of Coolbrook’s RotoDynamic Heater technology for electrified kiln heating, setting a new benchmark for industrial decarbonization at Boyareddypalli plant in Andhra Pradesh, Ambuja Cements selected for first Indo- Swedish Carbon Capture and Utilisation (CCU) Pilot in the global cement sector in partnership with IIT Bombay and Eco Tech Sweden, advancing circular carbon economy solutions. Ambuja Cements is the first Indian cement company to adopt the Taskforce on Nature- related Financial Disclosures (TNFD) framework for nature- positive disclosures, joining an elite group of seven global cement players. Ambuja along with it’s subsidiary ACC are India’s leading and globally one of the four large scale cement companies with science-based net-zero targets validated by the SBTi for near term 2030 and long term 2050 02 03 04
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Navalakhi P AN India Presence ACC Integrated Plants Grinding Units Bulk Terminal Ambuja Maratha cement works Darla / Suli Bhatapara Ropar Bhatinda Roorkee Dadri Nalagarh Sankrail Farakka Surat Lakheri Gagal Ametha Kymore Jamul Chaibasa Bargarh Wadi Chanda Tikaria Sindri Damodhar Madukkarai Kudithini Thondebhavi Vizag Dahej BCCI Mangalore Cochin Muldwarka Panvel Sanghi Asian NalagarhRajpura Tuticorin Patas Tandur Ganeshpahad Boyareddypalli Talaricheruvu Krishnapatnam Karaikal Gopalpur Kolkata Orient Chittapur Jalgaon Devapur Presence in 31 states & union territories and 665+ districts Ambujanagar 18 109 MTP A Cement Capacity 67.3% Clinker factor 24 Integrated Units 22 Grinding Units 77% Share of Blended Cement 117 Ready-Mix Concrete plants 10 Bulk Cement Terminals 11 Captive Ships 6.6% Thermal Substitution Rate 1,20,000+ Channel partners across India For the Quarter Ended December 31, 2025 * * Including brownfield expansion of Cement Grinding Unit in Marwar Mundwa Rabriyawas Marwar
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Adani Group Synergies 19 ✓ Synergy benefits between entities providing assurance on Supply chain and off take. ✓ Further bringing in linkage through Centre of Excellences which provides the assurance on execution of projects within budget and time. ✓ Demonstrated Support and arm’s length synergy benefits in the past. ✓ Collaborating with Adani Foundation on community development initiatives ✓ Supply of building materials to Adani Realty ✓ Brand partnerships with Adani Media Networks on key events | AGEL : Adani Green Energy Limited | AESL : Adani Energy Solutions Limited | APSEZ : Adani Ports and Special Economic Zone | APL : Adani Power Limited | ACL : Ambuja Cements Limited | ACC : ACC Limited | ANIL : Adani New Industries Limited | AEML : Adani Electricity Mumbai Limited | MUL : MPSEZ Utilities Limited | NQXT : North Queensland Export Terminal | AIMSL : Adani Infra Management Services Limited | AIIL : Adani Infra India Limited | MPL: Mundra Petrochem Limited | KCL: Kutch Copper Limited | AAHL: Adani Airport Holdings Limited | ARTL: Adani Road Transport Limited | O&M : Operations and Maintenance | EPC : Engineering Procurement Construction | PMC : Project Management Consultancy | WTG : Wind Turbine Generator | IRM : Integrated Resource Management EPC & PMC Centre of Excellence AIIL O&M Centre of Excellence AIMSL Human Resource Centre of Excellence GCC Adani Portfolio Ecosystem Adani Cement AAHL APSEZ Transport & Logistics ARTL AGEL APL AESL Energy & Utilities ANIL Mining Services and Integrated Resource Management Metal Material Mining MPL - PVC KCL - COPPER Supply of Power Supply of building materials Supply of building materials Logistics Solutions Supply of building materials Fly Ash from APL – Circular Economy- Waste Product usage Supply of Coal
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Brands’ Architecture Heritage India‘s 1st Cement Company, Inter-generational legacy pioneered product development Strength Pioneered brand building & technical services Market leaders with Virat Compressive Strength High Patronage Higher contribution from Trade segment Ambuja + ACC 67% Share of Premium Products 35% of Trade Volume (31% vol growth YoY) IHB Influencers Professionals Dealers Trade Cement Share Strategic Partnership {e.g. CREDAI, Academia (FutureX initiative) CONCOR, etc.} Northern Zone : 19% Central Zone : 8% Western Zone : 23% Southern Zone : 28% Eastern Zone : 22% Ambuja Cements Geographical Spread (Capacity Share) 1 1. Q3 FY’26 Iconic brands with cumulative 120+ years history that shaped the industry 20 2 2 Including brownfield expansion of Cement Grinding Unit in Marwar Mundwa
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Product Portfolio (1/2) 21 Super Premium Super Premium Super Premium Super Premium Ambuja Cement ACC Cement Base Ambuja Kawach Strength to withstand water Ambuja Plus Stronger denser concrete Ambuja Compocem Strength with brightness High on “STRENGTH” Ambuja Cement Giant compressive strength Super Premium to Premium range High on “HERITAGE” & “DURABILITY” ACC Gold Water Shield Cement Paani Seh Kare Shield ACC Concrete Plus Xtra Strong Cement Plus Ka Dum Hardum ACC F2R * Superfast Cement Fast Setting, Lambi Inning ACC Super Super Strong homes that last Super Long ACC Suraksha Power Badhti Mazbooti Ka Power ACC Suraksha Power + Badhti Mazbooti Ka Power ACC HPC (High Performance) Super Strong, Lasts Long ACC Super Shaktimaan Shaktimaan Cement Gold Range Silver Range * Foundation to Roof India's Most Trusted Cement Brand 2025’ by TRA Research in its Brand Trust Report 2025
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Product Portfolio (2/2) Ready Mix Concrete Aggregates Alccofine DmX (Dry Mortars) AAC Blocks Wall Putty LmX Fly Ash Comprehensive Building Materials & Concrete Solutions 22
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• CiNOC (Cement Intelligent Network Operations Centre) launched to infuse in operations & businesses an AI layer deep into our enterprise fabric, which will facilitate paradigm shift in operations • Digital sales platform provides a consolidated view of real-time transactions across channel partners and construction professionals • Electronic Proof of Delivery (ePOD): The ePOD system has reduced invoice processing time by 30% and document management costs by 40% • Equipped with advanced technological solutions, analytics, and security systems to enhance operational control and surveillance • Major substations are already onboarded and operated remotely from Ahmedabad Corporate House through an unmanned setup, maximizing asset efficiency Digitally Enabled Operations Delivering High System Availability 23 AI-first platform and ERP backbone power scalable, efficient, future-ready operations Smart Tab for Sales Manager Smart Tabs enable on-the-go productivity with instant access to apps, analytics, and customer insights Central Control Room (CCR) The CCR is the plant’s digital hub, continuously monitoring and optimizing all key processes Sensors IoT sensors provide continuous, condition-based monitoring that boosts equipment reliability, reduces downtime, and predicts failures before they occur
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Iconic Structures and Buildings 24 Chenab River Arch Bridge Atal Setu Samruddhi Mahamarg Mumbai Coastal Road Kolkata’s Underwater East West Metro Tunnel World One, Worli - Mumbai Reinforcing a legacy of landmark projects, the Company continues to play a pivotal role in India’s infrastructure and realty landscape
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High Strength and Durability with upto 70% low embodied CO2 For Underground structures exposed to chemical attacks Ready Mix Concrete Market Presence of Adani Concrete 25 No of Plants 117 (14 up YoY) Volume (Mn m3)* 2.70 (36% up YoY) No of Cities 45 *YTD Dec FY’26 Wide variety of RMC solutions for everyone’s need Ultra High Strength Pumpable concrete For High rise towers – high grade requirements Shrinkage cracks-controlled concrete with increased structural integrity, toughness & flexural strength For warehouse shop floors, partition walls, floor screeds Temperature controlled concrete with high durability applicable in mass pours. Reduced thermal cracks. For Raft pours, deep sections & during peak summer concreting jobs
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Performance Highlights03 26 • Dec’24 quarter: Orient acquisition completed in Apr’25. Only Sanghi and Penna consolidated in results • Dec’25 quarter: Sanghi, Penna & Orient consolidated in results
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Industry Outlook 27 Cement Demand – Government Infra Projects and Robust Demand from Housing to Drive Growth Source: CRISIL Macro Economics Macro Economic Factors • Strong demand, favorable policy (tax reforms, infrastructure), resilient consumption, and rising investment to drive Indian economy • FY’26 GDP growth projection revised upwards to 7.4%. • Inflation outlook for FY’26 reduced to 2% from earlier 3.7% due to food price deflation • Sustained investment activity & continued strength in manufacturing & services to drive future growth Policy Tailwinds Policy Tailwinds • Reclassification of limestone as major mineral will remove end -use restrictions, which is expected to boost cement industry • 100% FDI in certain real estate & construction projects help attract capital flow into cement industry • Governments policies and incentives for sustainable practices will lead to more resilient and efficient industry Cement Demand Drivers • States with notable capital spending on housing/infrastructure to aid demand • Rajasthan Govt. fast -tracks Rs 1,972 Cr. real estate projects • Prime Minister (PM) to launch Rs 14,260 Cr. infra projects in Chattisgarh • Rs 8.6 lakh Cr committed towards infrastructure development in Vibrant Gujarat Summit 2026 • Public Investment Board clears Rs 26,000 Cr. Kamala Hydro Electric project in Arunachal Pradesh • Bullet train between Ahmedabad and Mumbai to generate substantial demand • Dharavi redevelopment project will significantly boost cement consumption due to its massive scale of infrastructure development and urban transformation Cement Demand Cement demand underpinned by strong infrastructure demand and ongoing needs from the housing and commercial sector Segment wise Cement Demand 13%-15% 29%-31% 32%-34% 22%-24% Industrial & Commercial Infrastructure Rural Housing Urban Housing Segment FY’26E Growth Housing 6.0% to 7.0% Infrastructure 7.5% to 8.5% Industrial/Commercial 5.5% to 6.5%
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Industry Outlook Strong Domestic Demand and Rising Investment to Drive Economy and Industry 411 688 990 271 443 621 FY15 FY25 FY30E Capacity Demand3,500 688 122 129 120 1,900 450 110 86 82 China India Vietnam US Turkey Installed Capacity Production Cement Consumption per capita has strong correlation with GDP per capita ✓ Strong GDP to propel cement consumption ✓ Key demand drivers: • Infrastructure (roads, railways, metros), • Rural housing (PMAY-G), • Urban housing (PMAY-U, real estate) • Industrial/commercial capex 1 India per capita consumption has the growth potential from 2x to 5x 2 Urban rise, income surge, government capex = more construction ✓ Unlike mature markets focused on upkeep, India’s cement demand stems from an underbuilt economy still expanding ✓ Structural demand driven by urbanization, income growth and public investment — not cyclical 3 Government Policy Support & Tailwinds ✓ PLI Scheme and Smart City Initiatives, FDI inflows and China+1 strategy supporting long-term industrial cement demand growth ✓ $2.6 Tn National Infrastructure Pipeline (NIP) supported by $130 Bn FY26 capex allocation to boost cement demand 4 Central Govt. Capex (Rs Bn)Cement Capacity and Production (MT) Industry Capacity and Demand (MT) 4,256 5,921 7,395 9,485 10,520 6,582 FY21 FY22 FY23 FY24 FY25 YTD Nov ✓ Cement consumption (in kg/ capita) ✓ India: World's #2 cement producer, yet per capita use is 45% below global average and 82% below China — massive headroom for growth 540 290 World Average India Cement Demand-to-GDP Growth Multiplier ➢ Unlike exports or global commodity businesses, cement is hyper -local and non-substitutable ➢ Ambuja’s revenue model tightly bound to Indian GDP and capex cycles ➢ Cement demand consistently grows ahead of GDP, driven by infrastructure and urban development ➢ Ambuja Cement continues to outperform industry growth rate ~ 7.4% India’s GDP FY26E ~8% Cement Demand FY26E 1.1x 17 17.9 19.8 23.1 25.5 27.7 30.9 34.9 37.4 1950 1960 1970 1980 1990 2000 2010 2020 2030E Urban Population (% of total population) 28% YoY growth and 59% of budget 28Sources: US Geological survey, Mineral Commodity Summaries, January 2025, Global Cement, World Bank, IBEF Report, Population – World Bank, Care Edge ,National Portal of India, National Infrastructure Pipeline | GDP: Gross Domestic Product | PMAY-G: Pradhan Mantri Awaas Yojana - Gramin | PMAY-U: Pradhan Mantri Awaas Yojana - Urban | CAGR: Compound Annual Growth Rate | FDI: Foreign Direct Investment | China India Vietnam USA Turkey
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Performance Highlights Particulars UoM Quarter Ended 9 Months Ended Dec’25 Dec’24 YoY Change Sept’25 QoQ Change 9M FY’26 9M FY’25 YoY Change Volume MnT 18.9 16.2 17% 16.6 13% 53.8 45.3 19% Revenue from Operations ₹ Cr 10,277 9,4111 9% 9,174 12% 29,740 25,3562 17% EBITDA ₹ Cr 1,353 1,7121 (21%) 1,761 (23%) 5,075 4,1032 24% EBITDA Margin % 13.2% 18.2%1 (5.0pp) 19.2% (6.0pp) 17.1% 16.2%2 0.9pp EBITDA (PMT) ₹ /Ton 718 1,0591 (32%) 1,060 (32%) 943 9052 4% PAT Reported ₹ Cr 367 2,663 (86%) 2,302 (84%) 3,686 3,943 (7%) PAT Normalised3 ₹ Cr 378 106 258% 619 (39%) 1,984 1,399 42% EPS (diluted) ₹ 0.82 8.86 (91%) 7.15 (88%) 11.36 13.35 (15%) Ambuja Consolidated 29 1. Including one-time income of Rs.826 Cr; 2. Including one-time income of Rs.826 Cr and GST incentive of Rs 138 Cr 3. Reconciliation between Reported Profit After Tax and Normalised Profit After Tax is provided on the next slide
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Performance Highlights Ambuja Consolidated – P A T Reconciliation 30 Particulars UoM Quarter Ended Nine months Ended Dec’25 Dec’24 Sept’25 Dec’25 Dec’24 Profit after Tax (Reported) ₹ Cr 367 2,663 2,302 3,686 3,943 Excise duty exemption ₹ Cr 826 826 Government Grant accrual/(provided for) ₹ Cr (223) (223) 138 Interest on income tax ₹ Cr 1,110 205 205 1,110 Chhattisgarh IDEC ₹ Cr 205 205 Impact of New Labour / Wage code ₹ Cr (107) (107) Sales tax deposit provided for ₹ Cr (114) (114) Indemnification Claim received ₹ Cr 40 Provision for pending litigation and disputed matters ₹ Cr (121) Vendor dispute claim settlement ₹ Cr (35) Income tax provision reversal ₹ Cr 829 1,697 1,697 829 Tax Impact ₹ Cr 4 (208) 4 (2) (203) Total impact on PAT ₹ Cr (11) 2,557 1,684 1,702 2,544 Profit after Tax (Normalized) ₹ Cr 378 106 619 1,984 1,399
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Performance Highlights Particulars UoM Quarter Ended 9 Months Ended Dec’25 Dec’24 YoY Change Sept’25 QoQ Change 9M FY’26 9M FY’25 YoY Change Volume MnT 12.0 9.7 23% 9.9 20% 32.5 27.0 20% Revenue from Operations ₹ Cr 5,913 5,0821 16% 5,150 15% 16,596 13,8622 20% EBITDA ₹ Cr 515 6011 (14%) 704 (27%) 2,091 1,9272 9% EBITDA Margin % 8.7% 11.8%1 (3.1pp) 13.7% (5.0pp) 12.6% 13.9%2 (1.3pp) EBITDA (PMT) ₹ /Ton 430 6171 (30%) 708 (39%) 644 7142 (10%) PAT Reported ₹ Cr 204 1,758 (88%) 1,388 (85%) 2,447 2,826 (13%) PAT Normalised3 ₹ Cr 230 207 11% 375 (38%) 1,461 1,182 24% EPS (diluted) ₹ 0.83 7.14 (88%) 5.62 (85%) 9.91 11.51 (14%) Ambuja Standalone 31 1. Including one-time income of Rs.190 Cr 2. Including one-time income of Rs.190 Cr and GST incentive of Rs 138 Cr 3. Reconciliation between Reported Profit After Tax and Normalised Profit After Tax is provided on the next slide
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Performance Highlights Ambuja Standalone – P A T Reconciliation 32 Particulars UoM Quarter Ended 9 months Ended Dec’25 Dec’24 Sept’25 Dec’25 Dec’24 Profit after Tax (Reported) ₹ Cr 204 1,758 1,388 2,447 2,826 Excise duty exemption ₹ Cr 190 190 Government Grant accrual/(provided for) ₹ Cr (223) (223) 138 Interest on income tax ₹ Cr 580 580 Chhattisgarh IDEC ₹ Cr 123 123 Impact of New Labour / Wage code ₹ Cr (45) (45) Sales tax deposit provided for ₹ Cr (114) (114) Loss on sale of shares of subsidiary company ₹ Cr (13) Income tax provision reversal ₹ Cr 829 1,180 1,180 829 Tax Impact ₹ Cr 9 (48) 56 65 (79) Total impact on PAT ₹ Cr (26) 1,551 1,013 987 1,644 Profit after Tax (Normalised) ₹ Cr 230 207 375 1,461 1,182
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Performance Highlights Ambuja Cement (Consolidated) Cement Business (% Change Y oY) 248 258 253 Dec-24 Sep-25 Dec-25 16.2 16.6 18.9 Dec-24 Sep-25 Dec-25 885 1,761 1,353 Dec-24 Sep-25 Dec-25 548 1,060 718 Dec-24 Sep-25 Dec-25 17% 53% 31% SALES VOLUME – Cement (MnT) NSP (₹/bag Cement) EBITDA (₹ Cr & Margin) (Incl. RMX) EBITDA (₹ /ton) (Incl. RMX) 10% 19% 13% 2% Achieved strong volume growth, surpassing 2x the industry average, driven by a series of strategic initiatives that strengthened market presence and improved realizations. Key actions include: - Expanding premium product share through branding and promotional activities - Intensifying branding campaigns to enhance visibility - Strengthening influencer engagement through technical support teams - Delivering value-added solutions tailored to regional customer needs - Upgrading physical infrastructure for operational efficiency Looking ahead, Adani’s continued emphasis on premium and solution-focused offerings is expected to further enhance realizations and drive sustained profitability. Implementation of a well-defined strategy emphasizing volume growth, premiumization, and sustained pricing power, underpinned by disciplined cost optimization and operational excellence. Furthermore, integration synergies across the Cement business and the wider Group platform are anticipated to unlock significant efficiencies, positioning the company for improved profitability in the near term. 331 excluding one-time income of Rs.826 Cr in Q3 FY’25 1 1
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Performance Highlights Ambuja Cement (Consolidated) Cement Business (% Change Y oY) RAW MATERIAL (₹/ton) POWER AND FUEL (₹/ton) FREIGHT & FORWARDING (₹/ton) OTHER EXPENSES (₹ /ton) 747 803 763 Dec-24 Sep-25 Dec-25 2% 1,274 1,370 1,382 Dec-24 Sep-25 Dec-25 9% 1,253 1,224 1,236 Dec-24 Sep-25 Dec-25 1% 854 799 862 Dec-24 Sep-25 Dec-25 1% Costs are higher by 2% mainly due to higher purchased clinker consumption across few plants (beneficial on TCO basis) and higher Clinker production vs consumption, excess stock lying in closing stock and benefit of this will flow in Q4 FY’26. However, these cost will be reducing further with initiatives viz. – Longterm arrangement for major raw materials – Infrastructure developments for raw material handling viz. BCFC projects – Maximization of cheaper raw material, (activated gypsum) replacing costlier raw materials viz. Imported gypsum etc. (17% of total cost) Increase in costs mainly contributed by higher Clinker production vs Sales volumes resulting in higher closing inventory. The benefit of this surplus, expected to flow in Q4 FY’26. As operational integration progresses and synergies are realized, costs expected to decline in future quarters, driven by following initiatives: – Improving Captive coal share & Fuel flexibility to maximize low-cost fuel consumption – Kiln fuel lower by 10P @165P/’000 kCal – Green power share up 14.8 PP @36.9% – Maximization of cheaper AFR material – Capex base efficiency improvement programs resulting in improved operational efficiency parameters (31% of total cost) Logistics costs reducing constantly, supported by cost reduction initiatives, Digitization and Automation programs. We expect this downward trend to continue as we progress on our logistics excellence programs. Key drivers include: – Strategic Modal shift with increasing share of waterways (to go upto ~5% by FY’28) – Accelerated Automation and Digitization – Optimized wheeler alignment to improve truck utilization and reduce freight costs – Improved Direct dispatches – Footprint optimization with new GUs – In Plant Automations and GPS tracking of both Inward and Outward movements – Longterm contract with CONCOR – Renegotiations of freight & handling rate (27% of total cost) Other expenses are maintained almost at PY level, driven by new business model and synergy between cement companies and with group companies. As integration advances and synergy benefits are progressively realized, these expenses are expected to trend downward in future quarters. (19% of total cost) 34
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Performance Highlights Clinker and Cement (CLC) Sales Volumes Companies Dec'25 Q Sept25 Q Dec'24 Q vs QoQ vs YoY Capacity Utilisation Listed companies Dec’25 Q Dec’25 Exit Ambuja Standalone 12.0 9.9 9.7 20% 23% 81% 90% ACC 11.3 10.0 9.8 13% 15% 71% 81% Orient 1.7 1.4 0.0 19% 0% 78% 86% Sanghi 0.7 0.6 0.6 19% 18% 44% 57% Other Companies 1.8 1.5 1.4 21% 30% Gross Cement Sales 27.4 23.3 21.5 17% 27% (-) Cement Sales (under MSA) (8.5) (6.7) (5.3) 27% 61% Net Cement Sales (Ambuja Conso) 18.9 16.6 16.2 13% 17% 72% 80% Net Clinker Sales 0.1 0.2 0.3 (44%) (58%) Net CLC Sales Volume 19.0 16.9 16.5 13% 15% 35 MnT
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Cash & Cash Equivalent Cash & Cash Equivalent • Standardized Grinding Unit of 2.4 MTPA for one mill (~7,200 TPD) (PPC basis) • Standardized Clinkering Unit of 4 MPTA for one Kiln (~12,000 TPD)ss 36 Orient acquisition ~ Rs 5,910 Cr 10,125 2,971 1,813 1,512 Mar'25 Jun'25 Sep'25 Dec'25 Net worth at Rs. 69,854 Cr, up by Rs 361 Cr. during the quarter, continue to remain debt free, highest rating of Crisil and CARE - AAA (Stable) / A1+
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Capacity Roadmap 37
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Capacity Roadmap Capacity Roadmap: ~109 at present, 115 by Mar’26 and 155 MTP A by Mar’28 exit 38 68 77 97 10 8 117 24 15 155 109 1 2 3 4 5 6 7 8 9 10 Sept’22 (Acquisition) FY24 Capacity FY25 Closing Capacity Marwar, Farakka, Sankrail, Sindri, Krishnapatnam and Debottlenecking Current Capacity (Jan’26) Ongoing Organic expansion Pipeline Mar’28E +9 MTPA +20 MTPA +12 MTPA +46 MTPA Sanghi (6.1 MTPA) Asian (1.5 MTPA) Penna (10 MTPA) Orient (8.5 MTPA) Organic Growth Organic Growth Debottlenecking (5.6 MTPA by FY’27 9.4 MTPA in FY’28) Healthy run rate of growth capex of ~Rs 8,000 Cr and efficiency capex of ~Rs 2,000 Cr Mar’26E * * Less: Capacity with higher operating cost used selectively (Jamul & Sindri) – 1.6 MTPA, total capacity 115 MTPA(Mar’26) # Warisaliganj GU will be commissioned in Q1FY’27 #
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04 ESG Overview 39
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ESG updates * Ambuja and ACC scored 90 and 89 out of 100 respectively in the 2025 S&P Global Corporate Sustainability Assessment (CSA) in the Construction Materials sector (without MSA impact); highest in the sector on Gross basis. After MSA, Scores are 69 and 72 res pectively Impressive ESG credentials and resilient credit ratings Rating Agencies Ambuja ACC DJSI (CSA) 90 * 89 * CDP – Climate Change B A CDP – Water Security A A CDP – Supplier Engagement Assessment A- A- Sustainalytics 25.7 (22/122 global rank) 23.4 (13/122 global rank) MSCI BB – CRISIL 56 57 NSE 65 65 Care Edge 75.1 80.3 40
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ESG updates Material topic Ambuja ACC UN SDGs 2030 TARGETS STATUS YTD FY 26 2030 TARGETS STATUS YTD FY 26Climate & Energy (Gross specific CO2 emissions - Kg/T) Climate & Energy (Green Power) 442 * 537 421 * 538 60.0% 33.8% 60.0% 29.3% Circular Economy (Use of waste derived resources in MnT) 21.0 6.5 30.0 2.5 Water & Nature (Water Positive) 10.0x 16.9x 5.0x 5.6x Water & Nature (Trees Planted - Million) 2.4 5.9 4.5 till Q3FY26 People & Community (beneficiaries – million) 5.0 3.6 till FY25 3.5 2.1 till FY25 * As per SBTi validated target 1.9 till Q3FY26 ESG Dashboard 41# In addition, we have sold 3144 lakh KWh units of renewable energy to grid which has resulted in avoiding 2,23,224 tonnes of CO2 emissions. #
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Delivering Scalable Circular Impact Geoclean Advantage: Turning Responsibility Into Strategic Value 42 36,000+ tons Diverted across last FY and ongoing FY 100% diversion Zero landfill—no leakage to grey markets Market Leadership Extending services to 14 top FMCG partners Strategic Value Creation Strong Customer Ecosystem • Deep engagement with India’s largest FMCG players • High repeat business driven by compliance, scale, and trust • Positioned as a strategic partner, not a transactional vendor Defensible, High-Quality Revenue • FMCG customers demand audit-ready, compliant, and secure solutions • High switching costs (compliance) reinforce long-term partnerships and stability Accelerating Circular Economy Leadership Zero leakage, Zero- Landfill Assurance • 100 % Landfill-diversion through safe and sustainable co- processing • Prevents grey-market leakage, misuse, and ensures brand protection • Strengthens compliance, traceability, and governance for partners Delivering Circular Economy and Resource Stewardship • Enabling circular economy through waste diversion and resource conservation • Drives low carbon operations Pan India contracts with key companies in major industrial sectors in the country
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Corporate Social Responsibility 43
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ESG updates Corporate Social Responsibility 44 Agriculture Activity Achievement Trainings on Agriculture Activities 7,781 Biomass supplied to Ambuja Cements 12,091 tonnes Water Resource Management Activity Achievement Building RRWHS 14 Ponds Renovated 71 Awareness Camps 45 Micro-Irrigation coverage 428 hectares
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ESG updates Corporate Social Responsibility 45 Activity Achievement Newly SHGs formed 39 Truckers & Allied Population reached through health activities 39,226 Beneficiaries screened under NCD 9,026 Activity Achievement Awareness sessions on WASH 817 Youth Trained 1,810 Sustainable Livelihood Development
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ESG updates Board & Committee Structure Board of Directors Pathway to strengthen Corporate Governance • Tenure of IDs – upto 3 years for max. 2 terms • Gender Diversity – Min. 30% female directors • Management Ownership – CEO and member of executive committees to have share ownership • Related Party Transactions – Independent 3rd party review & certification • Training & Education – Min. 4 sessions in a year for education of IDs Statutory Committees - Audit 🗹 - Nomination & Remunerations 🗹 - Stakeholder Relationship 🗹 - Corporate Social Responsibility 🗹 - Risk Management 🗹 Non-statutory Committees - IT & Data Security 🗹 - Corporate Responsibility 🗹 - Mergers and Acquisition 🗹 - Legal, Regulatory & Tax 🗹 - Reputation Risk 🗹 - Public Consumer 🗹 - Commodity Price Risk 🗹 100% IDs Chaired by IDs 40% Comprised of only Independent Directors 100% of Statutory Committees Chaired by Independent Directors 7 Additional Business specific committees 29% Fully comprised of Independent Directors 100% Chaired by Independent Directors Chairman of Audit committee; Chairperson of Nomination and Remuneration committee Chairperson of Corporate Res ponsibility committee I ID: Independent Director I NID: Non-Independent Director | WTD: Whole Time Director l CEO: Chief Executive Officer Independent Directors Non-Independent Directors Gautam Adani Chairman Skill & Expertise • Entrepreneurial Vision • Business Leadership Karan Adani Director Skill & Expertise • Industry expert • Strategic development • Operational efficiency Ajay Kapur Managing Director 40+ Yrs of Experience Skill & Expertise • Industry expertise • Corporate Strategy • Business leadership 40+ Yrs of Experience Skill & Expertise • Human Resource Management • Leadership Management Purvi Sheth 40+ Yrs of Experience Skill & Expertise • Banking • Corporate credit & project finance Rajnish Kumar 40+ Yrs of Experience Skill & Expertise • Business strategy & Policies • Finance • Regulatory Compliance Ameet Desai 33+ Yrs of Experience Skill & Expertise • Corporate Strategy • Finance • ESG & Climate Change Praveen Garg Maheshwar Sahu 40+ Yrs of Experience Skill & Expertise • Strategic Management • Corporate Governance Vinod Bahety WTD and CEO 25+ Yrs of Experience Skill & Expertise • Banking & Finance • Manufacturing • Professional Entrepreneur • Business Strategies & Policies 46
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05 Annexures 47
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Glimpse of Special Events by Adani Cement 48 Adani Cement FutureX Conclave Dhanvarsha Navotsav 2026 NirmAAAnotsav with CREDAI Chairman (Punjab) BAI Convention Goa SamvAAAd Mumbai Adani Cement Plant Celebrations Strengthened partnerships with leading industry bodies including CREDAI, NAREDCO, BAI, Indian Concrete Institute, CTBUH, The Indian Institute of Architects, Indian Chamber of Commerce, ACCE India, among others CTBUH - Council on Tall Buildings and Urban Habitat, CREDAI - Confederation of Real Estate Developers' Associations of India, NAREDCO - National Real Estate Development Council, ACCE - Association of Consulting Civil Engineers (India), BAI - Builders Association of India
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Accolades & Awards 49 01 Adani Cement plants bag 10 awards including ‘National Energy Leader’ at 26th CII National Award for Excellence in Energy Management 2025 02 India's Most Trusted Cement Brand 2025’ by TRA Research in its Brand Trust Report 2025; consecutively for 4th year in a row. 03 Recognised with the ‘Best CX and Influencer Mastery’ award at 12th Digital Customer Experience Confex & Awards 2025 04 Honoured with Safety Excellence Awards at the 7th Indian Chamber of Commerce National Occupational Health & Safety Awards 05 Adani Cement plants honoured with Diamond Awards at the ICON SWM 2024–25 for excellence in co-processing 06 Honoured with the Unnatha Suraksha Puruskara at Safety Awards 2025 by National Safety Council – Karnataka Chapter
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Historical Financial Performance | Consolidated Profit & Loss (Published) 53.8 MTPA Volume ₹ 29,740 Cr Revenue from Operations ₹ 5,075 Cr EBITDA1 ₹ 943/ Tonne* EBITDA/ Tonne 17.1% EBITDA Margin 9MFY’26 Insights 1 – does not include other income * 9MFY’26 EBITDA for existing assets (Ambuja +ACC) stands at Rs 1,045/ton 50 Particulars Unit FY24 FY25 9MFY26 Revenue from Operations ₹ Cr 33,160 35,045 29,740 Other Income ₹ Cr 1,166 2,654 600 Total Income ₹ Cr 34,326 37,699 30,341 Raw Material Cost ₹ Cr 5,526 6,527 4,738 Employee Benefit Cost ₹ Cr 1,353 1,403 1,207 Power and Fuel Cost ₹ Cr 8,086 8,348 7,402 Freight and Forwarding Cost ₹ Cr 8,001 8,301 6,848 Other Expenses ₹ Cr 3,795 4,494 4,470 Total Operating Expenses ₹ Cr 26,760 29,074 24,665 Operating EBITDA1 ₹ Cr 6,400 5,971 5,075 Depreciation and Amortization ₹ Cr 1,628 2,478 2,643 Finance Costs ₹ Cr 276 216 203 Taxes ₹ Cr 1,161 764 (1,040) Exceptional Items - Expense/ (Income) ₹ Cr (212) 21 198 Sub-total ₹ Cr 2,854 3,480 2,003 Add: Share of Profit from Associates/ JVs ₹ Cr 23 13 14 PAT ₹ Cr 4,735 5,158 3,686
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Historical Financial Performance | Consolidated Balance Sheet (Published) Note: Cash and Cash equivalents includes Bank Balances, Bank Deposits and Fixed Deposits with banks 51 Particulars Unit As on As on As on 31-Mar-24 31-Mar-25 30-Sep-25 Assets Non-Current Assets Property, Plant and Equipments ₹ Cr 19,987 24,656 31,933 Right of Use Assets ₹ Cr 758 1,465 1,593 Capital Work-in-Progress ₹ Cr 2,658 9,820 10,473 Goodwill ₹ Cr 8,803 10,856 12,862 Other Intangible Assets ₹ Cr 2,647 5,666 10,151 Other Non-Current Assets ₹ Cr 6,285 8,772 7,041 Total Non-Current Assets ₹ Cr 41,137 61,235 74,054 Current Assets Cash and Cash Equivalents ₹ Cr 15,999 10,125 1,813 Inventories ₹ Cr 3,609 4,248 5,397 Trade Receivables ₹ Cr 1,190 1,590 1,858 Other Assets ₹ Cr 3,169 3,747 5,588 Total Current Assets ₹ Cr 23,966 19,710 14,656 Total Assets ₹ Cr 65,104 80,945 88,710 Liabilities Equity Equity Share Capital ₹ Cr 440 493 494 Other Equity ₹ Cr 41,012 52,951 55,752 Non-Controlling Interest ₹ Cr 9,391 10,368 13,247 Total Equity ₹ Cr 50,843 63,811 69,493 Liabilities Borrowings ₹ Cr 37 27 332 Trade Payables ₹ Cr 2,964 2,759 3,742 Tax Liabilities ₹ Cr 4,013 5,129 5,353 Other Liabilities ₹ Cr 7,247 9,219 9,790 Total Liabilities ₹ Cr 14,261 17,134 19,217 Total Equity and Liabilities ₹ Cr 65,104 80,945 88,710
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Abbreviations AEL Adani Enterprises Limited ATGL Adani Total Gas Ltd APSEZ Adani Ports and Special Economic Zone Limited AESL Adani Energy Solutions Limited APL Adani Power Limited AGEL Adani Green Energy Limited AAHL Adani Airport Holdings Limited ARTL Adani Roads Transport Limited ANIL Adani New Industries Limited AWL Adani Wilmar Limited ADL Adani Digital Limited NDTV New Delhi Television Ltd AIMSL Adani Infra Mgt Services Pvt Ltd OCL Orient Cement Limited GDP Gross Domestic Product MSCI Morgan Stanley Capital International NABARD National Bank For Agriculture And Rural Development LC Letter of Credit RRWHS SBTi Rainwater Harvesting System Science Based Targets initiatives SD Sustainable Development CSR Corporate Social Responsibility ICC Indian Chamber of Commerce NQXT North Queensland Export Terminal MnT. CLC Million Tonne Clinker and Cement PLI Production Linked Incentive TCO Total Cost Basis AFR Alternate Fuels and Raw Material WHRS Waste Heat Recovery System MTPA Million Tonne Per Annum BCT Bulk Cement Terminal IHB Individual Home Builder GU Grinding Unit EC Environment Clearance O&M Operations & Maintenance PSU Public Sector Undertaking NBFC GCCA Non-Banking Financial Company Global Cement Concrete Association ESG Environmental, Social & Governance B2C Business to Consumer SEDI Skill and Entrepreneurship Development Institute SHG Self Help Group TSR Thermal Substitution Rate OPC Ordinary Portland Cement NCD Non-Communicable Diseases ENOC Energy Network Operation Centre FI Financial Institution RMX Ready- Mix Concrete BCCI Bulk Container Corporation of India PMT Per Metric Tonne CONCOR Container Corporation of India Limited FPC Farmer Producing Company GCC Global Capability Centre EPC CU Engineering, Procurement and Construction Clinkerization Unit DJSI Dow Jones Sustainability Index CDP-CC CDP Climate Change CDP-WS CDP Water Security UN SDG United Nations Sustainable Development Goals BCFC Bottom Discharge Wagon WASH Water, Sanitation & Hygiene ABS Association of Brest Surgeons ABSI Association of Breast Surgery, India NRC Nomination and Renumeration Committee DWT Deadweight Tonnage CREDAI Confederation of Real Estate Developers’ Associations of India 52
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Disclaimer Certain statements made in this presentation may not be based on historical information or facts and may be “forward-looking statements,” including those relating to general business plans and strategy of Ambuja Cements Limited (“Ambuja”), the future outlook and growth prospects, and future developments of the business and the c ompetitive and regulatory environment, and statements which contain words or phrases such as ‘will’, ‘expected to’, etc., or similar expressions or variations of such expressions. Actual results may differ materially from these forward-looking statements due to number of factors, including future changes or developments in their business, their competitive environment, their ability to implement their s trategies and initiatives and respond to technological changes and political, economic, regulatory and social conditions in India. This presentation does not constitute a prospectus, offering circular or offering memorandum or an offer, or a solicitation of any offer, to purchase or sell, any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of Ambuja’s shares. Neither this presentation nor any other documentation or information (or any part thereof) delivered or supplied under or in relation to the shares shall be deemed to constitute an offer of or an invitation by or on behalf of Ambuja. Ambuja, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein. The information contained in this presentation, unless otherwise specified is only current as of the date of this presentation. Ambuja assumes no responsibility to publicly amend, modify or revise any forward-looking statements, based on any subsequent development, information or events, or otherwise. Unless otherwise stated in this document, the information contained herein is based on management information and estimates. The information contained herein is subject to change without notice and past performance is not indicative of future results. Ambuja may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. No person is authorized to give any information or to make any representation not contained in and not consistent with this presentation and, if given or made, such information or representation must not be relied upon as having been authorized by or on behalf of Ambuja. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of this presentation should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration therefrom. For further info, please contact: CA Deepak Balwani Head, Investor Relations deepak.balwani@adani.com Ambuja Cements Limited Registered office: Adani Corporate House, Shantigram, Near Vaishno Devi Circle, S.G. Highway, Ahmedabad – 382421. Ph: +91 79265 65555; www.ambujacement.com; CIN: L26942GJ1981PLC004717 53 ONE CEMENT PLATFORM