Days after completing a $6.5 billion acquisition of Ambuja Cements and ACC, billionaire Gautam Adani said his group has planned to double cement manufacturing capacity and become the most profitable manufacturer in the country. In a speech made at an event to mark the completion of the acquisition on September 17, the Adani Group founder and chairman said the ports-to-energy conglomerate has in a single stroke become the second largest cement manufacturer in the country. Adani Group's competency in driving operational efficiency will result in "significant margin expansion to become the most profitable cement manufacturer in the country," he said. On his group's growth philosophy, Adani, 60, said it is the belief in India's growth story. Adani Group's market cap, he said, stands at $260 billion—having grown faster than any company ever in India, he added.

Source: The Hindu September 20, 2022 00:34 UTC