Ambuja Cements Limited · NSE:AMBUJACEM
Ambuja Cements — Investor Presentation (November 2025)
39 slides from Ambuja Cements's investor presentation, November 2025
Slide 1: Ambuja Cements Investor Presentation
Ambuja Cements Investor Presentation | November 2025
Slide 2: Contents
Contents 1 Executive Summary 2 Investment Highlights 3 ESG Annexures STRICTLY CONFIDENTIAL
Slide 3: Executive Summary
1 Executive Summary STRICTLY CONFIDENTIAL
Slide 4: India | Colossal Growth Opportunity
India | Colossal Growth Opportunity Key Highlights: Fastest growing economy + large consumer base…. …needs critical infra in transport and logistics Fastest Growing Large Economy Large Consumer Base Under penetration of Air Travel High logistics cost G20 Real GDP CAGRs, 2013 to 2023 (%) Top 10 Count
Slide 5: India | Cement sector growth is structural and not cyclical
India | Cement sector growth is structural and not cyclical 1 Cement Consumption per capita 2 India Cements per capita 3 Urban rise, income surge, 4 Government Policy Support & has strong correlation with GDP consumption has the growth government capex = more Tailwinds per capita potential from 2x t
Slide 6: Economy and Industry to benefit from several favourable developments
Economy and Industry to benefit from several favourable developments Segment wise Cement Demand Macro Economic Factors Macro • Economy to benefit from several favourable developments including GST 2.0 reforms, the Carbon Credit Economics Trading Scheme (CCTS), and the withdrawal of coal cess. • GDP
Slide 7: Adani Portfolio: A World Class Infrastructure & Utility Portfolio
Adani Portfolio: A World Class Infrastructure & Utility Portfolio Flagship Infrastructure & Utility Core Portfolio Primary Industry Other Incubator Materials, Metal Energy & Utility Transport & Logistics Specialty & Mining (73.97%) (62.43%) (74.96%) (65.89%) (67.68%)3 AEL AGEL APL APSEZ Ports & Logi
Slide 8: Ambuja Cements: Holding Structure
Ambuja Cements: Holding Structure Ambuja, with 107 MTPA, is the 9th largest Building Materials & Solutions company globally Adani Family Public 67.68% 32.32% NSE: AMBUJACEM Ambuja Cements BSE: 500425 Bloomberg: ACEM:IN 50.05% 58.08% 99.94% 72.66% NSE: ACC NSE: SANGHIIND NSE: ORIENTCEM ACC BSE: 50041
Slide 9: Cement as a core adjacency to Adani's Infrastructure Ecosystem
Cement as a core adjacency to Adani’s Infrastructure Ecosystem Turbocharging Ambuja Cements – Capacity in MTPA Ambuja Cement By acquiring Holcim’s stake, Adani instantly became India’s 2nd largest cement producer, positioning itself as a dominant player in the sector. 17% 16% A rare opportunity to b
Slide 10: Why is Ambuja Cement the Best Way to Play a Multiplier on Indian GDP Growth?
Why is Ambuja Cement the Best Way to Play a Multiplier on Indian GDP Growth? Significant Headroom to Scale First Mover in Structural Expansion Supply Leadership ➢ Ambuja is expanding capacity ahead of the ➢ 290 kg per capita cement consumption ➢ 45% less than world average 2-5x demand curve, positio
Slide 11: Ambuja Cement: One of the Largest Global Cement Manufacturers
Ambuja Cement: One of the Largest Global Cement Manufacturers Pan India Footprint For the Quarter Ended September 30, 2025 107 MTPA* 67.0% * Cement Capacity Clinker factor 24 22 Integrated Units Grinding Units 77% 116 Share of Blended Cement Ready-Mix Concrete plants 10 11 Bulk Cement Terminals Capt
Slide 12: Ambuja Cement: Performance Highlights (Consolidated)
Ambuja Cement: Performance Highlights (Consolidated) Quarter Ended Half Year Ended Particulars UoM YoY QoQ H1 H1 YoY Sept’25 Sept’24 Jun’25 Change Change FY’26 FY’25 Change Volume 1 MnT 16.6 13.8 20% 18.4 (9%) 35.0 29.2 20% 1&2 Revenue from Operations ₹ Cr 9,174 7,552 21% 10,289 (11%) 19,464 15,945
Slide 13: Ambuja Cement: Post Acquisition Growth Trajectory
Ambuja Cement: Post Acquisition Growth Trajectory Capacity (MTPA) EBITDA (₹ per tonne) Green Power Share (%) 155 * 1,500 60% 140 118 # 107 1,060 738 33% 68 7% At the time As on 30th Target Target Revised At the time of Q2FY'26 Target (FY'28) At the time of Q2FY26 Target (FY'28) of Sept'25 (FY'26) (F
Slide 14: Ambuja Cement: Key Investment Highlights
Ambuja Cement: Key Investment Highlights Key Investment Highlights • Orient, Penna, Sanghi moved 100% into Adani Cement (Ambuja/ACC) Brands with positive response from dealers, other supply chain partners and customers. 1 Capacity Roadmap • Existing assets delivered a PMT EBITDA of ~Rs. 1,189 PMT, o
Slide 15: Investment Highlights
2 Investment Highlights STRICTLY CONFIDENTIAL
Slide 16: Capacity Roadmap: ~107 at present, 118 by Mar'26 and 155 MTPA by FY'28
1 Capacity Roadmap: ~107 at present, 118 by Mar’26 and 155 MTPA by FY’28 Sanghi (6.1 MTPA) Penna (10 MTPA) Organic Organic Asian (1.5 MTPA) Orient (8.5 MTPA) Growth Growth +9 MTPA +20 MTPA +10 MTPA +48 MTPA * 140 15 21 155 10 107 13 97 68 77 1 2 3 4 5 6 7 8 9 FY28E 10 Sept’22 FY25 Farakka, Sankrail,
Slide 17: Capacity Roadmap: Incremental capacity of 12.6 MTPA by end of FY'26
1 Capacity Roadmap: Incremental capacity of 12.6 MTPA to be completed by end of FY’26 Capacity (MTPA) Projects under Expected Capacity Unit State Particulars execution Clinker Completion (MTPA) Cement Bhatapara Line 3 CU Chhattisgarh 4.0 - Q3 FY26 Existing Capacity 107 Salai Banwa GU Uttar Pradesh -
Slide 18: Capacity Roadmap: Debottlenecking of 15 MTPA by FY'28
1 Capacity Roadmap: Debottlenecking of 15 MTPA by FY’28 Debottlenecking (FY’27) Additional Capacity Debottlenecking (FY’28) Additional Capacity Jamul 0.3 Boyareddypalli 1.1 Chanda 0.3 Rabriyawas 1.1 Sindri 0.3 Tandur 1.1 Nalagarh 0.3 Bhatapara 1.2 Ropar 1.1 Wadi 2.2 Roorkee 1.1 Tikaria 2.7 Maratha 2
Slide 19: Portfolio Synergies: Operational Synergies accruing to each business
2 Portfolio Synergies: Operational Synergies accruing to each business in Portfolio Adani Portfolio Ecosystem EPC & PMC O&M Human Resource ✓ Synergy benefits between AIMS GCC AIIL1 Centre of Centre of Centre of entities providing assurance L Excellence Excellence Excellence on Supply chain and off E
Slide 20: Portfolio Synergies: Project Management & Assurance Group (PMAG)
2 Portfolio Synergies: Project Management & Assurance Group (PMAG) Institutionalised Project Execution Demonstrated On-ground Capex Delivery Adani Infra (India) Limited | ITD Cementation India Ltd. | PSP Projects Ltd. ₹451,000 Cr Cumulative capex by Adani Portfolio during FY20 - FY25 Origination Sit
Slide 21: Cost Leadership: Comprehensive Cost Reduction Plan
3 Cost Leadership: Comprehensive Cost Reduction Plan Aim to achieve total cost ~ Rs. 4,000 PMT by Mar’26 exit. It will set pace for further 5% reduction each year over next two years, putting trajectory to achieve Rs. 3,650 PMT by end of FY 28 Cost Reduction Target (Cost PMT) Particulars Rs PMT ~400
Slide 22: CiNOC: Digitally Enabled Operations Delivering High System Availability
4 CiNOC: Digitally Enabled Operations Delivering High System Availability • 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 prov
Slide 23: CiNOC: Embedding Intelligence at the Core of Digital Strategy
4 CiNOC: Embedding Intelligence at the Core of Digital Strategy 01 02 03 Reimagining and Reengineering Strategic Differentiation Future-Proofing with Sustainable the Core at Scale Intelligence Establishing digital foundations to scale Unlocking value through customer Embedding circularity, foresight
Slide 24: Market Leadership: Cement as a Service, Pioneering a Sustainable Future
5 Market Leadership: Cement as a service, pioneering a sustainable future Cement as a Service: Pioneering a Sustainable Future White Premium Precast Green Building Value additions RMX Aggregates Cement Cement Concretes Solutions Cables/ Building Material Cement Wires Solutions Fly Ash/ Green/Renewab
Slide 25: Market Leadership: Product Portfolio
5 Market Leadership: Product Portfolio Ambuja Cement ACC Cement High on Super Premium High on “HERITAGE” & Super Premium “STRENGTH” “DURABILITY” India's Most Trusted Cement Brand 2025’ by TRA Research in its Brand Trust Report 2025 Super Premium Super Premium ACC Gold ACC Concrete Plus ACC Super Amb
Slide 26: Market Leadership: Product Portfolio – Building Materials & Concrete Solutions
5 Market Leadership: Product Portfolio Comprehensive Building Materials & Concrete Solutions Ready Mix Concrete Aggregates Alccofine DmX (Dry Mortars) AAC Blocks Wall Putty LmX Fly Ash 26
Slide 27: Balance Sheet Strength: Debt free balance sheet with strong cash reserves
6 Balance Sheet Strength: Debt free balance sheet with strong cash reserves Ambuja Cement (consolidated): Cash & Cash Equivalents position Synopsis of the movements in Cash & Cash Equivalent Cash & Cash Equivalent Particulars ₹ Crs 1 Orient acquisition Opening balance as on 1st Apr 2025 10,125 ~ Rs
Slide 28: ESG
3 ESG STRICTLY CONFIDENTIAL
Slide 29: Ambuja: Assurance Backed ESG Framework
Ambuja: Assurance Backed ESG Framework Vision Policies Guiding principle To be a world class leader in businesses that enrich lives and contribute to nations in building ESG infrastructure through sustainable value creation. Assurance Commitment Our ESG Ambition ESG Guiding Framework ESG Rating Agen
Slide 30: Ambuja: ESG Updates
Ambuja: ESG Updates Material topic Ambuja ACC UN SDGs Climate & Energy 2030 TARGETS STATUS Q2 FY 26 2030 TARGETS STATUS Q2 FY 26 (Gross specific CO2 emissions - Kg/T) 442* 553 421* 538 Climate & Energy (Green Power) 60.0% 36.1% 60.0% 30.3% Circular Economy (Use of waste derived resources in MnT) 21.
Slide 31: Ambuja: Impressive ESG credentials and resilient credit ratings
Ambuja: Impressive ESG credentials and resilient credit ratings Rating Agencies Ambuja ACC DJSI (CSA) 89 87 CDP – Climate Change B B CDP – Water Security B B CDP – Supplier A- A- Engagement Assessment 25.6 20.3 Sustainalytics (19/119) - Medium Risk (5/119) - Medium Risk MSCI BB – CRISIL 56 (Adequate
Slide 32: Ambuja: Board of Directors and Management Overview
Ambuja: Board of Directors and Management Overview Board of Directors Statutory Committees 40% Independent Directors - Audit 🗹 Comprised of only Independent - Nomination & Remunerations 🗹 Directors - Stakeholder Relationship 🗹 100% of - Corporate Social Responsibility 🗹 Statutory Committees 🗹…
Slide 33: Annexures
Annexures STRICTLY CONFIDENTIAL
Slide 34: Historical Financial Performance | Consolidated Profit & Loss
Historical Financial Performance | Consolidated Profit & Loss Particulars Unit FY23 (15 M) FY24 FY25 H1FY26 H1FY’26 Insights Cement Sales Volume MnT 67.5 58.0 63.5 35.0 Revenue from Operations ₹ Cr 38,937 33,160 35,045 19,464 Other Income ₹ Cr 738 1,166 2,654 513 35 MnT Volume Total Income ₹ Cr 39,6
Slide 35: Historical Financial Performance | Consolidated Balance Sheet
Historical Financial Performance | Consolidated Balance Sheet As on As on As on As on Particulars Unit Assets 31-Mar-23 31-Mar-24 31-Mar-25 30-Sep-25 Sept’25 Insights Non-Current Assets Property, Plant and Equipments ₹ Cr 14,729 19,987 24,656 31,933 Right of Use Assets ₹ Cr 588 758 1,465 1,593 Capit
Slide 36: Iconic Structures and Buildings (1/2)
Iconic Structures and Buildings (1/2) Reinforcing a legacy of landmark projects, the Company continues to play a pivotal role in India’s infrastructure and realty landscape Chenab River Arch Bridge Atal Setu Samruddhi Mahamarg Kolkata’s Underwater East West Mumbai Coastal Road World One, Worli - Mum
Slide 37: Iconic Structures and Buildings (2/2)
Iconic Structures and Buildings (2/2) Adani Cement Creates a World Record for the Largest Raft Foundation for Religious Infrastructure 504 ft tall Twice the size of Qutub Minar World’s Tallest temple of Goddess Maa Umiya at Vishv Umiyadham, Ahmedabad - Supplied concrete for raft foundation of world'
Slide 38: Accolades & Awards
Accolades & Awards 01 Adani Cement plants bag 10 awards including ‘National Energy Leader’ at 26th CII National Award for Excellence in Energy Management 2025 01 02 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 Reco
Slide 39: Disclaimer
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 futu
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