Prelude
Ambuja Cements, part of the Adani portfolio, is the worlds ninth-largest building materials and solutions company. Renowned for its scale, performance and environmentally sustainable operations, it continues plants, to play an integral role in Indias growth. It is among four large global cement producers to have its Net Zero and near-term targets validated by the Science Based Targets initiative (SBTi) and it is the first Indian cement company to adopt the Taskforce on Nature-related Financial Disclosures (TNFD) framework. With an installed capacity of 109 MTPA and targeted to reach 119 MTPA by FY 2026-27, the Company plays a critical role in enabling sustainable infrastructure development and supporting Indias Net Zero 2050 ambition. At Ambuja Cements, quality is engineered into every stage from quarry to construction site through ISO-certified advanced testing and real-time process controls that exceed global benchmarks. By combining rapid infrastructure advancement with data-led decision-making, the Company is enhancing operational agility and building smarter, future-ready capabilities. The Companys R&D Centre at Kalamboli drives next-generation material science, sustainable blends and low-clinker innovations. AI-enabled Plants of the Future are designed to improve process control, consistency and efficiency, reinforcing long-term durability, reliability, customer confidence across markets and maximise stakeholder value.
Ambuja Cements has fundamentally redesigned its logistics model, strengthening its role beyond a cost centre towards improving operational efficiency and cost optimisation.
A unifieddigital and physical backbone anchored by the AI-enabled Cement Intelligent Network Operations Centre (CiNOC) now integrates ERP, IoT, analytics and fleet platforms, enabling real-time visibility, predictive planning and improved coordination across the supply chain. Parallel network upgrades include a modal shift from road to rail, induction of electric and hydrogen trucks, expanded marine logistics and advanced wagons, expected to deliver gradual cost savings and emission reductions. Over 10,000 IoT sensors, enhanced cybersecurity and integrated technical systems strengthen reliability, quality and sustainability. Supported by the RESQ (Reliability,
Environment, Safety and Quality) governance framework and ecosystem collaboration through Agnigati, an integrated digital logistics platform and collaborative ecosystem that streamlines end-to-end supply chain operations, the transformation is strengthening operational discipline, improving service levels while enhancing resilience in a dynamic cost and demand environment. Across operations, the RESQ philosophy is embedded as a core performance lens, supported by advanced monitoring technologies, enhanced surveillance systems and the integration of well-being into everyday safety practices.
Execution excellence is reinforced through proactive stakeholder engagement, with the Company strengthening its presence across priority industry forums and building deeper collaborations with institutions such as CREDAI, BAI, NAREDCO and the Institute of Town Planners, India (ITPI) among others, enabling closer alignment with evolving urban and infrastructure needs.
People and culture remain pivotal to Ambuja Cements progress, with continued investments in capability building, leadership development and digital upskilling to strengthen institutional depth and agility. Guided by Growth with Goodness, the Company impacted over 3.72 million lives through initiatives in education, healthcare, livelihoods and water stewardship, fostering grassroots resilience. Cultural platforms such as the Adani Ahmedabad Marathon and internal sports leagues enhanced engagement and pride. Safety was reinforced as a strategic enabler with drone inspections, AI-enabled monitoring and structured governance improving reliability, reducing risk and embedding a Zero Harm culture that supports stable, efficient and sustainable operations.
Ambuja Cements contribution to nation-building is reflected in its involvement in marquee projects including the Navi Mumbai International Airport, Chenab Bridge, Atal Setu, Mumbai Coastal Road and World One, underscoring its capability to deliver complex, large-scale infrastructure and iconic urban developments.
Reflecting its financial resilience, CRISIL has reaffirmed Ambuja
Cements highest-tier credit ratings CRISIL and CARE AAA/Stable (long-term) and CRISIL A1+ (short-term), highlighting the strength of its balance sheet, healthy cash accruals and a prudent, low-leverage profile.
Its commitment to stakeholder value creation has enabled it to forge industry partnerships and undertake initiatives such as Adani Cement FutureX which engages 750+ institutions and over 1.3 million students that reinforce trust in its strong operational and governance framework. Guided by a commitment to responsible growth, the Company is strengthening its foundation to set new benchmarks in the construction industry.
One Cement Platform
Adani Cement is advancing its One Cement Platform through the proposed amalgamation of ACC Limited and Orient Cement Limited with Ambuja Cements Limited, aiming to create a unified, pan-India building materials solution provider that is globally competitive. Building on the successful integration of Sanghi Industries and Penna Cement, it is expected to strengthen operational and financial synergies while simplifying the corporate structure. The platform aims to enhance scale, agility and ESG leadership, supporting Ambuja Cements capacity expansion target of 119 MTPA by FY 2026-27 and ensuring long-term value creation through the creation of a resilient, future-ready organisation.
Capital Markets Engagement
Adani Cement hosted its first
Capital Markets Plant Visit at the Marwar Mundwa Integrated Plant, Rajasthan, engaging 46 analysts from 38 institutions. Through immersive walkthroughs and leadership interactions, the Company showcased its capacity expansion, digital integration and Group synergies, reinforcing investor confidence in its execution strength and long-term growth strategy. During the year, Adani Cement hosted the second edition of its Capital Market Plant Visit at the Sanghipuram integrated cement plant in Kutch, Gujarat, welcoming leading analysts and investors from prominent domestic and global institutions. The visit provided participants with firsthand insight into Sanghipurams scale, operational capabilities and strategic importance within the Adani Cement ecosystem. Leadership interactions and plant walkthroughs highlighted the facilitys strong natural resource base, integrated manufacturing infrastructure and highly digitised operations. Discussions also emphasised Sanghipurams logistics advantage through its captive jetty and ongoing investments in rail connectivity. The engagement reinforced the plants role in strengthening operational efficiency, resource security and long-term value creation.
Aligning Vision with Transformation
The Board of Directors of Adani Cement visited the historic Kymore plant and the state-of-the-art Ametha facility, reinforcing strategic oversight and alignment. The visit combined plant walkthroughs with deep-dive discussions on technology, governance, talent and community impact. Through structured strategy sessions, leadership interactions and cultural exchanges, the Board strengthened alignment with management, underscoring the Companys shift towards digitally enabled, purpose-led and future-ready operations.
Pathway to Net Zero
Ambuja Cements is committed to lowering its carbon footprint and achieving Net Zero by 2050. Ambuja Cements is the leading cement company in India to secure Science Based Targets initiative (SBTi) validation for both near-term (2030) and Net Zero (2050) targets under the Cement Sectoral Decarbonisation Approach. These targets cover Scope 1, 2 and 3 emissions and align with Indias Nationally Determined Contributions under the Paris Agreement. In a landmark step, Adani Cement has become the first Indian cement company to adopt TNFD recommendations, reinforcing its commitment to nature-positive growth through transparent disclosures, strong ESG practices and measurable sustainability initiatives. The Company has increased reliance on green power, reduced fossil fuel dependence and undertaken circularity initiatives to support its defined targets. The Company is also investing in innovative approaching like rotodynamic heating by using green energy use and pilot on carbon capture and utilisation.
Economic Scenario
Global growth in 2025 remained steady despite the presence of divergent forces. This resilience reflects a balance between headwinds arising from shifting trade policies and tailwinds driven by strong technology-led investment, particularly in artificial intelligence, with momentum more pronounced in North America and Asia than in other regions. Growth was further supported by fiscal and monetary measures, broadly accommodative financial conditions and the adaptability of the private sector. However, global uncertainties, including geopolitical developments and energy market volatility continued to pose risks to growth. Overall, global GDP is estimated to have grown by 3.4% in 2025, while headline inflation is estimated at 4.1%.* During the year, the country received three sovereign credit rating upgrades. Manufacturing and construction recorded growth of around 7%. Investment momentum remains robust, with gross fixed capital formation (GFCF) rising by 7.8% in FY 2025-26 and consistently accounting for around 30% of GDP over the past three years.
Inflation moderated sharply, with average headline CPI inflation at 1.7% during April–December 2025, reflecting broad-based easing in food and fuel prices. Among major emerging markets, India recorded one of the steepest declines in inflation in 2025.** Although input costs for sectors such as cement remained sensitive to global commodity trends.
Infrastructure development in India has accelerated, with capital expenditure increasing over fourfold since FY 2017-18. Connectivity has expanded significantly through highway development, near-universal rail electrification, growin g aviation
Economic Scenario Outlook
Indias growth outlook remains structurally strong over the medium- to long-term, supported by domestic demand, continued structural reforms and a stable macroeconomic environment. Over the medium term, resilient domestic growth drivers are likely to sustain economic momentum even amid evolving global demand conditions. However, prolonged geopolitical tensions in West Asia, particularly the Iran–Israel conflict, could pose risks to growth.
Ongoing investments in infrastructure are expected to further enhance logistics efficiency, reduce production costs and strengthen overall competitiveness. Investment conditions are also likely to remain stable, with the real investment-to-GDP ratio projected to stay around current levels and capital productivity supported by sustained efficiency gains.
Fiscal policy is expected to play a pivotal role in advancing the vision of Viksit Bharat. This may involve an increase in the share of capital expenditure by the government, with a strategic reorientation towards advanced technology sectors such as artificial intelligence, space, robotics, advanced infrastructure and defence. Such expansion is likely to be supported through improved tax compliance and revenue buoyancy rather than through major structural tax reforms.
Cement Industry
The operating environment during FY 2025-26 remained dynamic, with input cost pressures, particularly in fuel, logistics and energy continuing to influence margins across the industry. Demand conditions also remained variable across regions and periods, reinforcing the need for disciplined execution and cost management. Demand has remained supported with variability across regions and periods, driven by strong construction activity. With acceleration in construction
*ICRA
activity post monsoon, demand improved sequentially in H2 FY 2025-26 as compared to average growth of 6% to 6.5% in H1 FY 2025-26. Further support is anticipated from a reduction in GST on cement and the governments continued emphasis on infrastructure spending, supporting demand trends, subject to execution pace and external factors. In response to favourable demand prospects, leading cement producers are expanding capacity through organic and inorganic routes. Industry capacity additions are projected at 42–44 MTPA in FY 2026-27, following 50–55 MTPA in FY 2025-26. Capacity utilisation is expected to remain stable at around 70–71% in FY 2026-27, with higher utilisation in northern and central regions and relatively moderate levels in the south due to capacity overhang.*
Cement Industry Outlook
The Company expects cement demand in India to grow by around 5% in FY 2026-27, following a strong growth trajectory of 6.5-7.5%* in FY 2025-26, supported by sustained momentum across the housing and infrastructure sectors. Demand remained resilient during the year, driven by robust construction activity, although evolving geopolitical developments in West Asia have contributed to volatility in fuel and raw material markets. Looking ahead, a potential reduction in GST on cement, together with the Governments continued focus on infrastructure-led development, is expected to further support demand momentum in FY 2026-27, despite elevated input costs arising from global supply chain disruptions. Against this backdrop of healthy demand, leading cement manufacturers continue to pursue both organic and inorganic capacity expansion strategies to strengthen market presence, while actively managing cost pressures related to higher coal, petcoke and freight expenses, along with the impact of Rupee depreciation on imported inputs.
Overall, the industry positioned for long-term growth, despite near-term demand and cost fluctuations. Accelerated capacity additions, technology adoption and sustainability initiatives are strengthening competitiveness and resilience. Supported by policy reforms, green innovation and expanding export opportunities, Indias cement sector is well-placed to play a critical role in shaping the countrys long-term infrastructure ambitions and enabling sustainable growth in the decades ahead.
Key Demand Drivers
| Urbanisation and Housing Development | Increasing Per Capita Consumption | Government Infrastructure Push |
| Rapid urbanisation, expanding housing demand and government-led affordable housing initiatives are driving sustained growth in India\u2019s cement consumption. Rising investments in commercial real estate, logistics, manufacturing and data centres are further diversifying demand. Strengthening rural incomes and infrastructure provide stability, while improved multimodal logistics reduce freight costs and expand market access, supporting long- term structural growth in an underbuilt economy. | Indias per capita cement consumption continues to remain significantly below global averages, indicating substantial long-term growth potential as economic development and construction activity accelerate. At approximately 290 kg per capita, compared to the global average of nearly 540 kg, cement consumption in India is expected to witness sustained growth over the coming decade, supported by rapid urbanisation, rising household formation and increasing penetration of formal housing. These structural demand drivers are likely to underpin long-term industry expansion, even as the sector navigates near-term volatility in input and operating costs. | Rising capital expenditure on highways, ports, metro rail and industrial corridors is accelerating construction activity and boosting cement demand. Long- term consumption is further supported by PLI schemes, Smart Cities initiatives, FDI inflows and China+1-led manufacturing shifts. The $ 2.6 trillion National Infrastructure Pipeline and robust FY 2025-26 capex allocations reinforce sustained infrastructure- led growth for the sector. $ 2.6 trillion National Infrastructure Pipeline Expected to Reinforce Sustained Infrastructure-led Growth |
Business Review
Sustainability and Climate Change
Ambuja Cements integrates its climate strategy and actions across operations, product innovation and stakeholder engagement, focusing on reducing emissions, improving resource efficiency and strengthening resilience to climate risks, aligned with Indias NDCs under the Paris Agreement and the UN SDGs. Through a IFRS* S2-aligned climate risk assessment, the Company has identifiedkey physical and transition risks, enabling targeted mitigation and opportunities such as expanded renewable energy use and Waste Heat Recovery Systems deployment.
Strong Governance for Sustainability Oversight
y Corporate Responsibility Committee: Oversees sustainability agenda and climate change mitigation. y Independent Directors: Provide guidance on long-term targets. y Senior Management: Leads execution of sustainability initiatives, aligning with business goals. y Regular Monitoring: Ensures continuous improvement and accountability by management and the Board.
Environmental Policy and Management System
Ambuja Cements Environmental Management System embeds sustainability across operations by aligning policies with best practices to manage climate risks, reduce waste and enhance resource efficiency, with implementation overseen by the Corporate Responsibility Committee to ensure strong Board-level accountability aligned with national and global climate priorities.
Environmental Policies y Climate Change Policy y Energy Management Policy y ESG Policy y Corporate Environment Policy y Water Stewardship Policy y Waste Management Policy y Resource Conservation Policy y Biodiversity Policy impacts and guide investments
Climate-related Risks and Opportunities
Ambuja Cements assesses a wide range of climate-related physical and transition risks through a comprehensive Climate Change Risk Assessment across short-, medium- and long-term horizons, integrating climate considerations into its Enterprise Risk Management (ERM) framework to enhance resilience and business continuity. Physical risks are evaluated across sites using IPCC-aligned scenarios, while transition risks are analysed under IEA-aligned pathways to support informed decisions and enable progress towards a low-carbon future. Climate change presents both risk and opportunity for business innovation and growth and the Company has invested on such opportunities.
Internal Carbon Pricing
Ambuja Cements has introduced an Internal Carbon Pricing framework, assigning a price to embed carbon
of $ 28 per tonne of CO 2
accountability in decision-making. This enables the Company to assess emission-related financial towards low-carbon solutions and prioritise decarbonisation strategies.
Energy Management
Ambuja Cements strengthens energy performance through regular audits, ISO 50001-certified management systems, governance oversight, performance monitoring and targeted employee training, including its in-house Energy and Emissions programme. Through process optimisation, renewable energy integration and waste heat recovery, the Company reduces thermal and electrical consumption while advancing its Scope 1, 2 and 3 decarbonisation strategy towards net-zero.
Emission Reduction Initiatives
Renewable and Green Power
Ambuja Cements is investing towards scaling renewable energy and reduce reliance on fossil fuels. By 2028, the Company aims to source 60% of its power from green energy, supported by 1 GW of solar and wind capacity and 376 MW of waste heat recovery systems. For the reporting year, the Company used 31% of renewable and green power, including renewable energy exported to the grid that helped offset conventional power consumption and contributed to a reduction in associated emissions.
Improving Energy Efficiency
Ambuja Cements is steadily reducing thermal and electrical energy consumption per tonne through focused efficiency initiatives across its plants. Several facilities participate in Indias Perform, Achieve and Trade (PAT) scheme, driving sustained reductions in specific thermal energy use. The scheme mandates energy audits, annual reporting and benchmarking, with verifiedsavings recognised through tradable Energy Saving
Certificates, supporting lower emissions and more sustainable operations.
Co-processing of Waste
The cement industry is energy intensive, with fossil fuels contributing significantly to carbon emissions. Ambuja Cements addresses this through advanced co-processing technologies across its Indian operations. Dedicated infrastructure and pre-processing units convert agricultural, municipal and industrial waste into alternative fuels for kiln use. Through Geoclean, these initiatives reduce reliance on fossil fuels, divert waste from landfills,support circular economy principles and advance the Companys carbon reduction and sustainability objectives, this year the Company has co-processed 5.6 lakh tonnes of waste.
Thermal Substitution Rate
Thermal Substitution Rate (TSR) measures the share of fossil fuels replaced by alternative fuels such as biomass, municipal and industrial waste. These high-calorific substitutes reduce reliance on coal and pet coke, lower carbon emissions and support circular economy principles. Ambuja Cements has set a TSR target of 23% by 2030, reinforcing its commitment to sustainable and low-carbon manufacturing.
Optimising Clinker Factor
Clinker is the most carbon-intensive element of cement production. Ambuja Cements reduces emissions by increasing blended cement production and using supplementary cementitious materials such as fly ash and slag. Through innovation and R&D, the Company maintains a clinker factor below the industry average while ensuring product performance.
Use of Supplementary Cementitious Material
Supplementary cementitious materials are extensively used by the Company to reduce reliance on mined raw materials in products such as PPC and PSC. Materials, including fly ash, slag, calcined clay and waste gypsum are carefully selected and proportioned based on their chemical and physical properties. Advanced testing and blending ensure high reactivity, consistent quality and compliance with performance standards. The use of SCMs also support decarbonisation efforts while advancing circular economy principles by recycling industrial by-products and reducing landfill disposal.
Use of Technology
Ambuja Cements is proactively adopting advanced technologies to accelerate decarbonisation and strengthen operational intelligence across its manufacturing operations. Energy-efficient solutions are being integrated into new projects and plant upgrades to reduce energy consumption. AI-driven process optimisation, smart sensors and real-time monitoring enhance efficiency, emissions control and product consistency.
Digital platforms streamline workflows and ensure continuous improvement, while computational fluid dynamics and in-house innovations improve thermal profiles and productivity. Together, these initiatives enable predictive maintenance, improve process stability and deliver sustained efficiency gains, reinforcing the Companys commitment to sustainable, intelligent manufacturing.
Technical Centre of Excellence
Ambuja Cements Technical Centre of Excellence (TCoE) plays a pivotal role in driving the Companys ambition for digital, low-carbon and high-efficiency manufacturing.
The TCoE is focused on enhancing reliability, productivity and process efficiency across operations through the deployment of best-in-class technologies, systems and practices. It also functions as a centre for new product development, technical due diligence of expansion initiatives and assessment of potential acquisitions, ensuring robust technical alignment with the Companys long-term business objectives and sustainability strategy.
Pioneering Zero-Carbon Heating Technologies
Ambuja Cements, part of the Adani Cement ecosystem is taking a significant step towards decarbonisation through the adoption of breakthrough technologies and global collaborations. In partnership with Coolbrook, the Company will host the worlds first commercial-scale deployment of the RotoDynamic
Heater™ (RDH™) technology at one of its cement plants. This landmark initiative supports Adani Cements SBTi-validated net-zero ambition for 2050 and addresses the calcination stage—the most fossil fuel-intensive phase of cement manufacturing. Powered entirely by the Companys expanding renewable energy portfolio, the RDH™ delivers zero-carbon industrial heat, enables higher substitution of fossil fuel with alternative fuels, and demonstrates the real-world viability of fully electrified, emission-free cement production. This positions Ambuja Cements at the forefront of Indias transition towards clean cement manufacturing.
Advancing Carbon Innovation Through Global Partnerships
Complementing this effort, Ambuja Cements is also strengthening its innovation agenda through global partnerships in Carbon Capture and Utilisation (CCU). The Company has received an Indo-Swedish grant to undertake a pre-pilot technology feasibility study in collaboration with IIT Bombay and Eco Tech, Sweden, supported by the Department of Science and Technology, Government of India, and the Swedish Energy Agency. The study will assess the technical and economic feasibility from cement
of capturing CO 2
operations and converting it into value-added products such as calcium carbonate or green methanol using green hydrogen pathways.
These initiatives reinforce Ambuja Cements commitment to climate leadership, circular carbon solutions and long-term sustainable value creation.
Air Quality
Ambuja Cements proactively manages air emissions through strict regulatory compliance and advanced pollution control systems across its plants. Measures include electrostatic precipitators, bag filters, enclosed conveyors, dust suppression, covered transport and green belts. Continuous Emission Monitoring Systems provide real-time tracking of NOx, SOx, particulate matter and other key pollutants.
Green Products
Ambuja Cements leads in blended cement, offering products with a lower clinker factor and reduced environmental impact. By using slag, fly ash and waste gypsum, the Company delivers high-performance solutions while lowering emission intensity. Over 78% of products sold are blended cement, with all products certified under Indias GRIHA (Green Rating for Integrated Habitat Assessment) rating system and having EPD certification
Water Stewardship
Guided by a robust Water Stewardship Policy, Ambuja Cements has maintained Water Positive status for over a decade. The Company systematically monitors water use and continues to adopt initiatives such as rainwater harvesting, watershed development and recycling initiatives to minimise its freshwater footprint. The Company has achieved steady reductions in water use per tonne of cement produced and has already surpassed its target by achieving 12x water positivity, reflecting a strong focus on water efficiency, conservation and responsible resource management.
Wastewater Recycling, Reuse and Discharge
Ambuja Cements has implemented robust wastewater recycling and reuse systems aligned with global best practices to enhance water efficiency, reduce freshwater dependence and minimise its overall water footprint. Through advanced treatment technologies, all wastewater is treated and reused within plant premises, achieving Zero Liquid Discharge status while reinforcing regulatory compliance and environmental stewardship.
Rainwater Harvesting and Conservation
The Company works closely with communities, government bodies and developers to advance rainwater harvesting and groundwater recharge. Initiatives for reclaiming mine pits for storage, rejuvenating village ponds, constructing check dams, supporting community water projects and adopting zero-water-curing systems have strengthened water resilience in nearby areas and ensured long-term drinking water security.
Waste Management
Ambuja Cements advances circular economy principles through sustainable resource use, waste minimisation and responsible handling practices that go beyond regulatory requirements. Through robust segregation, regular audits, employee training and a zero-waste-to-landfillapproach, materials such as plastic, hazardous waste, fly ash and mining overburden are recycled or co-processed, reducing reliance on virgin resources and minimising environmental impact.
Circular Economy
Ambuja Cements enhanced its circularity efforts by utilising 9.78 million tonnes of alternative fuels and raw materials. Through Geoclean, alternate fuels included partnerships with leading FMCG companies enabled safe co-processing of over 15,000 tonnes of market-return and trade-reject waste, preventing landfill disposal and grey-market leakage while strengthening circular economy practices and brand protection.
Biodiversity
Biodiversity management is a material priority for Ambuja Cements, guided by an avoid-minimise-restore-offset approach with targets for no net deforestation, no net biodiversity loss and progress towards net positive gain, supported by a TNFD LEAP-aligned risk assessment. As the first Indian cement company to adopt TNFD recommendations from FY 2025-26, Adani Cement reinforces these commitments through afforestation, water positivity and blended green cement initiatives, embedding nature-positive outcomes into its strategy.
Biodiversity Risk Assessment
As a cement manufacturer, the Company has a significant dependence on natural capital through raw material extraction and water use, as well as indirect reliance on ecosystem services, and has therefore undertaken a comprehensive Nature and Biodiversity Risk Assessment aligned with the TNFD LEAP framework across 21 sites in India to identify key dependencies, impacts and climate-related risks. In a landmark move, Adani Cement became the first Indian cement company to adopt TNFD recommendations, strengthening transparency and advancing site-specific action plans to support nature-positive and sustainable manufacturing.
Biodiversity Action Plan
In response to identifiedrisks,
Ambuja Cements has implemented a comprehensive Biodiversity Action Plan aligned with the IUCN (International Union for Conservation of Nature) mitigation hierarchy and grounded in nature-based solutions. The plan includes site-specific measures such as greenbelt development using native species, wildlife monitoring, rainwater harvesting and mangrove restoration. These actions follow a structured avoid-reduce-restore-transform approach, strengthening biodiversity protection, supporting ecological regeneration and advancing long-term nature-positive outcomes.
Biodiversity Protection and Enhancement Measures
Ambuja Cements ensures strict compliance with environmental regulations, including the Forest Conservation Act and CAMPA (Compensatory Afforestation
Fund Act), supporting its No Net Deforestation commitment through afforestation, mine closure planning, habitat restoration and responsible mining practices aligned with approved Mine Plans. As part of the Adani portfolios target to plant 8.3 million trees by 2030, with 7.2 million already planted, the Company further strengthens biodiversity stewardship through community partnerships, India Business and Biodiversity Initiative (IBBI) membership and employee-led environmental initiatives.
Sustainable Construction
Sustainable construction is integral to the Companys strategy, shaping product design, stakeholder engagement and the promotion of responsible building practices.
Through Ambuja Certified
Technology (ACT) and initiatives such as Sapno Ka Ghar, contractors and engineers are equipped with skills, technical guidance and incentives to adopt sustainable methods. Environmental Product Declarations enhance transparency at the product level through life cycle assessment. The Company has contractor engagement, loyalty programmes and knowledge-sharing with architects and engineers to promote resource-efficient, high-quality construction. Ambuja Cements is a leader in blended cements with a significantly lower clinker factor, utilising slag, fly ash and waste gypsum to reduce environmental impact. Over 78% of the products sold are blended products, many of which are GRIHA (Green Rating for Integrated Habitat Assessment, Indias national green rating system) certified.Verified EPDs (Environment
Product Declarations), aligned with international ISO standards, further enable informed, low-carbon construction decisions across the value chain.
Regulatory Compliance
Ambuja Cements recognises regulatory compliance as fundamental to responsible and sustainable operations. The Company adheres to a comprehensive framework of environmental laws across its diverse operations, ensuring all requisite permissions and approvals are secured. Compliance is systematically monitored and managed through the Legatrix software platform. Key regulations include environmental clearances and EIA (Environmental Impact Assessment) requirements, pollution control, waste management and resource protection laws. Beyond compliance, Ambuja Cements aspires to set industry benchmarks by strengthening sustainability performance and demonstrating best-in-class environmental stewardship.
Sales Volume
In FY 2025-26, Ambuja Cements delivered strong growth, with cement sales rising by 16% to 73.7 million tonnes. The retail segment—particularly Individual Home Builders and ground-plus-three-storey (G+3) structures—continues to represent the Companys largest customer base, driving both volume and profitability. During the year, the Company sharpened its focus on increasing the contribution of premium products, supported by targeted brand-building initiatives and enhanced engagement with influencers through specialised technical teams. This momentum is expected to continue over the medium term, supported by structural demand drivers.
Market Development
To better address customer needs, Ambuja Cements sales and marketing teams engage proactively with clients to understand evolving preferences. This approach supports optimal capacity utilisation and improves supply chain efficiency. In line with its sustainability strategy, the Company has reduced the share of Ordinary
ASCENT
The launch of Adani Cements Sustainable, Circular, Environmental & Net-Zero Transformation (ASCENT) marks a decisive step in strengthening operational excellence and long-term value creation. ASCENT provides an enterprise-wide, data-driven and digitally enabled framework that enhances environmental performance, operational discipline and risk management, embedding sustainability, circularity and innovation at the core of responsible, future-ready growth aligned with Indias Viksit Bharat 2047 vision. It also represents the first-of-its-kind environmental digital assessment framework within Adani and among cement companies nationally, enabling annual monitoring and real-time measurement of environmental performance to strengthen transparency, accountability and continuous improvement.
Portland Cement (OPC) within its portfolio. Ambuja Cements also continues to strengthen its channel partner network by onboarding new partners and increasing wallet share per counter, driving growth across key markets while maintaining strong relationships with retail customers.
Region-specific value-added solutions and selective upgrades to market-facing infrastructure further enhanced customer experience and brand visibility. Going forward, sustained emphasis on premium and solution-oriented offerings, anchored in disciplined cost management and integration synergies across the cement business and the wider Group platform is expected to support steady profitability and improved returns.
Strong Distribution Network
Ambuja Cements has established a robust pan-India channel partner network comprising approximately 15,000 dealers and 40,000 retailers and sub-dealers. This extensive distribution footprint plays a vital role in meeting the rising demand for quality cement and building materials nationwide, while ensuring reliable supply of materials at competitive prices. During the reporting period, the network contributed around 55% of the Companys cement sales within the retail segment.
Sustainable Products
Ambuja Cements innovative products, including Adani Ambuja Plus, Adani Ambuja Kawach, Adani Ambuja Compocem and Adani Ambuja Cool Walls, support sustainable construction practices. Blended cement remains a key focus, reducing carbon emissions by around 30% compared with Ordinary
Portland Cement.
It not only conserves natural resources such as limestone but also incorporates industrial by-products like fly ash and slag. Aligned with the Companys sustainability objective, these products are featured in GRIHAs Green Product Catalogue, supporting green building design and regulatory compliance.
Adani Ambuja Kawach
In 2020, Ambuja Cements launched Adani Ambuja Kawach, a premium water-repellent cement positioned as the highest-priced product in its portfolio. The product is promoted through outdoor and in-store branding, on-ground engagement by Technical Services teams, and digital platforms, including the Companys website and online campaigns. Adani Ambuja Kawach is one of four products listed in GRIHAs Green Product Catalogue. In addition, the Companys blended cement range has secured GreenPro certification from the Confederation of Indian Industry (CII) and recognition from the Solar Impulse Foundation, further reinforcing its sustainability credentials.
Customer Engagement and Relationship
Home ownership is a source of immense pride in India, and for many, building a strong and enduring home is a lifelong aspiration. Individual home builders often invest a substantial share of their savings to realise this goal. Ambuja Cements is committed to supporting this journey by facilitating access to high-quality materials, offering advice on appropriate construction practices and connecting customers with skilled and experienced contractors.
Customer-centric Approach
Ambuja Cements prioritises transparent, trust-led and long-term customer relationships, supported by consistent engagement and value-added solutions. Focusing on Individual Home Builders, the Company extends beyond product supply to offer technical guidance and end-to-end construction support through Ambuja Certified Technology
(ACT). Implemented across 59,865 sites in FY 2025-26, ACT strengthens loyalty through structured engagement under the IEAR (Identify, Enrol, Acquire, Retain) framework. A robust grievance redressal mechanism ensures timely resolution of concerns via multiple accessible channels. Regular brand and satisfaction surveys further enhance service quality. By integrating customer feedback and sustainability expectations into decision-making, Ambuja Cements fosters responsible practices, inclusive growth and enduring stakeholder value.
Instant Concrete Mix Proportioning Solution
Ambuja Cements provides an instant concrete mix proportioning solution that optimises the use of aggregates, sand and water according to their specific properties. During the year, 47,966 of the solutions were given across construction sites, conserving water.
Modular Curing Solution
To improve the efficiency of concrete curing practices, Ambuja Cements developed innovative modular curing systems, also referred to as zero-water curing solutions. This advancement substantially reduces water consumption during construction. During the year, 1,122 of the solutions were given across construction sites, conserving water.
Rainwater Harvesting Guidance and Solutions
Ambuja Cements continues to promote awareness of rainwater harvesting solutions by providing technical expertise to support the installation of harvesting structures at customer sites. This initiative enables customers to manage their water requirements more sustainably and independently, while contributing to responsible water stewardship and long-term resource conservation.
Influencer Engagement and Relationship
Ambuja Knowledge Sharing Initiative
Ambuja Cements has established the Ambuja Knowledge Sharing e-platform for architects and engineers, promoting sustainable construction practices, advanced materials and innovative techniques. Through a blend of in-person and virtual engagements, the platform has reached over 22,525 professionals nationwide. Ambuja Knowledge Centres (AKCs), located across 18 cities in India, serve as dedicated hubs for technical learning and collaboration, engaging more than 22,525 professionals.
Executive Excellence
Programmes for Construction Professionals
The engineering and architectural community plays a pivotal role in shaping the nations infrastructure. In recognition of their contribution, the Company, in collaboration with IIT Kanpur, introduced the Executive Excellence Programme (EEP). This four-day residential certification course, designed and delivered by IIT faculty, strengthens technical capabilities with a focused curriculum covering advanced and emerging industry topics.
Celebration of Engineers Day
On Engineers Day, Ambuja Cements honours the engineers shaping Indias nation-building journey. Across functions, they deliver scalable, precise and responsible solutions for landmark projects such as the Chenab Bridge and Atal Setu. Guided by #Reimagination, they continuously innovate to embed sustainability and long-term resilience into every structure, building a stronger future for generations.
Ambuja Rewards Connect initiative
Ambuja Cements contractor loyalty programmes have evolved into the enhanced and integrated Ambuja Rewards Connect initiative. Designed to deepen engagement with contractors, the programme promotes Ambuja Certified
Technology (ACT) and supports the construction of durable, high-quality homes. Extending beyond cement, it introduces innovative initiatives aimed at empowering and uplifting contractors. Today, nearly three lakh contractors are enrolled, benefittingfrom structured rewards, recognition and sustained partnership opportunities.
Channel Partner and Contractor Engagement
Customer-centric engagement remains central to Ambujas approach. The Company conducts structured contractor and channel partner meets across India, recognising contributions through standardised appreciation platforms and impactful on-ground initiatives. These programmes strengthen relationships, foster loyalty and reinforce a performance-driven partner ecosystem.
DHANVARSHA
Dhanvarsha is a quarterly flagship platform uniting Adani Cements channel partners, influencers and contractors through transparent, performance-linked rewards. Combining digital and on-ground engagement, it recognises both individuals and families across nationwide celebrations. Engaging over 50,000 stakeholders, Dhanvarsha strengthens trust, partnership and collective growth across the Adani Cement ecosystem.
Dealer CEO Club
Under the Dealer CEO Club platform, Adani Cement engaged top-performing channel partners through strategic dialogues and recognition ceremonies. Dealers achieving record milestones were honoured, while leadership shared expansion and premiumisation plans. Enhanced privileges, regional initiatives and productivity programmes strengthened collaboration, reinforcing a future-ready, performance-driven ecosystem built on trust and shared growth.
Contractor CEO Club
Ambuja Cements introduced the
Contractor CEO Club, a first-of-its-kind initiative in the Indian cement industry, to strengthen engagement with leading contractors nationwide. As a strategic collaboration platform, it recognises excellence, aligns partners with growth ambitions and fosters shared value creation. Through leadership interactions, structured programmes, certified skills training and safety initiatives, the Club builds long-term partnerships. Encompassing over 1,800 contractors across India, it has enhanced trust and accelerated premium product adoption.
Strengthening Contractor Trust through NEEV Abhiyaan
Ambuja Cements reinforced contractor engagement and trust through structured plant visits across multiple locations under the NEEV Abhiyaan. Contractors were invited to experience the manufacturing process first-hand, gaining insights into quality control, safety standards and operational excellence. Guided tours, interactive sessions with plant teams and formal recognition enhanced transparency, strengthened confidencein product quality and deepened long-term relationships.
Digitalisation and Innovation
Driven by its RESQ philosophy -
Reliability, Efficiency, Sustainability and Quality, the Companys digital strategy is built around three key priorities: modernising core platforms, transforming processes
Digital Strategy and Approach for scalable growth and building future-ready intelligent systems. This evolving approach reflects the transition from using digital as an enabler to embedding it at the core of the business, allowing decisions, processes and operations to become increasingly data-driven, agile and resource efficient.
Pillar 1 - Reimagining and Re-engineering the Core
The Company continued to strengthen its digital foundation through the development of an
AI-first and cloud-native ecosystem designed to support scale, agility and intelligent decision-making. Platforms such as the Adani Ambuja Intelligence Platform and CiNOC are enabling enterprise-wide integration of ERP, IoT, analytics and fleet systems to improve operational visibility and decision throughput. A standardised ERP
266 backbone and software-network architecture are further enhancing resilience, operational consistency and financial governance. At the same time, the Company reinforced digital trust and cyber resilience through a comprehensive OT cyber security framework covering asset visibility, risk monitoring and automated recovery systems, supported by ISO
27001 certification.
Pillar 2 - Strategic Differentiation at Scale
The Company continued to leverage digital technologies to improve efficiency, responsiveness and customer experience across operations. Intelligent and touchless processes, including ePOD and automated invoice- to-pay systems, are streamlining workflows, improving accuracy and strengthening planning capabilities through AI-enabled forecasting tools. Enhanced digital visibility across a fleet ofmore than 60,000 trucks along with initiatives such as DIGIPIN, is improving logistics efficiency, route discipline and delivery precision. Manufacturing operations are also evolving through the deployment of over 10,000 IoT sensors across 38 units, enabling predictive maintenance, AI-led optimisation and automated control systems that enhance throughput and equipment reliability. In parallel, digital engagement platforms are simplifying dealer onboarding, improving customer interactions and strengthening service responsiveness across touchpoints.
Pillar 3 - Future-Proofing with
Sustainable Intelligence
The Company is embedding intelligence and sustainability across the value chain to build more agile, connected and future-ready operations. AI-enabled systems are supporting faster decision-making, improving operational responsiveness and strengthening control across functions. Digital integration from quarry to lorry, including the use of drone-based inspections, voice-enabled interfaces and automated traceability solutions, is enhancing visibility, execution and safety on the ground. The adoption of digital twins is improving lifecycle visibility and enabling more efficient planning and operational management, while sustainability dashboards are supporting better monitoring of greenhouse gas emissions, material efficiency and greener logistics planning. Alongside technology adoption, the Company continues to invest in workforce capability building through structured learning initiatives and cross-functional collaboration, ensuring digital transformation is embedded across the Company.
Read more about our digital initiatives on Page 120 .
Advancing Intelligent Digital Operations
The Company continues to strengthen its digital infrastructure to support more efficient and sustainable operations. The initiative also enables the gradual adoption of advanced digital solutions, including Digital Twins, aimed at enhancing reliability, forecasting capabilities and operational efficiency across plants.
Ambuja Cements also continued to advance its digital manufacturing capabilities through the implementation of the Technical Information System (TIS), a centralised platform designed to improve operational visibility and efficiency across the value chain. The platform enables real-time monitoring, predictive maintenance and data-driven decision-making, while supporting improved resource efficiency and more streamlined operations.
Consolidated Business Performance
| Particulars | FY 2025-26 | FY 2024-25 |
| Sales Volume cement (MMT) | 73.7 | 63.5 |
| Revenue from operations ( C crore) | 40,656 | 35,336** |
| Operating EBITDA ( C crore) | 6,539 | 5,971 |
| Operating EBITDA Margin (%) | 16.1 | 16.9 |
Key Financial Ratios (Standalone)
| Particulars | FY 2025-26 | FY 2024-25** |
| Operating EBITDA Margin (%) | 12 | 14 |
| Net Profit Margin (%) | 14 | 13 |
| Return on Net Worth (%) | 7 | 6 |
| Net Worth (crore) | 52,558 | 48,960 |
| Net Debt Equity Ratio | NA | NA |
| Debtors Turnover (Times) | 21.84 | 23.48 |
| Inventory Turnover (Times) | 6.00 | 6.01 |
| Debt Service Coverage Ratio (Times) | 11.19 | 2.85 |
**Restated, refer Note 68 of Standalone Financial Statement
Costs
Overall costs witnessed a reduction of 1% on an annual basis driven by reduction in power & fuels cost led by optimised fuel mix, higher share of green power and improved logistics costs. Further, ongoing integration, efficiency initiatives, digitalisation, and strategic cost optimisation measures across materials, energy, logistics and operations are expected to drive a gradual reduction in costs going forward. Margins remained impacted by input cost volatility and pricing dynamics, particularly in the latter part of the year, underscoring the importance of ongoing cost optimisation initiatives.
Cost of Materials Consumed
Costs increased primarily due to higher purchased clinker consumption at select plants and increased clinker production, resulting in elevated closing stock. Costs are projected to decline through long-term raw material arrangements, infrastructure upgrades such as BCFC projects and greater use of lower-cost materials, including activated gypsum.
Power and Fuel
Costs lower by 6% annually driven by optimised fuel mix, strategic sourcing of coal leading to lower kiln fuel cost by 8 paisa at H 1.61/000 kCal and increased share of green power by 7 percentage points at 31%, while ongoing operational integration and synergy realisation are anticipated to drive cost efficiencies. As operational integration advances and synergies are realised, costs are projected to moderate. Key initiatives include increasing captive coal share, enhancing fuel flexibility, reducing kiln fuel costs, expanding green power usage, maximising lower-cost AFR consumption, and improving operational efficiency through targeted capex programmes.
Freight & Forwarding
Logistics costs continue to decline, supported by focused cost optimisation, digitalisation and automation initiatives. This downward trajectory is expected to persist through ongoing logistics excellence programmes. Key drivers include strategic modal shifts with increased use of waterways, improved truck utilisation, greater direct dispatches, footprint optimisation through new grinding units, in-plant automation and GPS tracking. Long-term contracts and freight rate renegotiations further strengthen cost efficiency.
Other Expenses
Other expenses increased mainly due to focused branding spends to support the increasing scale, supported by the new business model and synergies across cement and group companies. As integration progresses and synergy benefits are further realised, these expected to moderate gradually, subject to input cost trends and operational efficiencies.
Master Supply Agreement (MSA)
Ambuja Cements maintains a robust framework of Master Supply Agreements (MSAs) with its subsidiaries including ACC Limited (ACC), Asian Fine Cement Private Limited, and Adani Cement Industries Limited (ACIL). These agreements establish a structured system for the movement of cement, clinker and other materials among group companies, facilitating efficient inter-company transactions. During the year, the Company transacted CLC Sales 39.5 million tonnes of Cement and Clinker (CLC) under these arrangements, underscoring the significanceand scale of this integrated supply network. The current year marked a further enhancement of this collaborative ecosystem with the introduction of a new MSA involving Orient Cement Limited (OCL). This agreement with OCL strengthens intra-group collaboration within the Adani portfolio. It enables reciprocal sourcing of specified materials and services, governed by transparent pricing methodologies, clearly defined operational parameters and arms length principles, supported by requisite related-party approvals. The framework allows either party to operate as manufacturer or procurer, optimising capacity utilisation, improving network efficiencies and enabling agile allocation of cement, clinker, fly ash, coal and other critical inputs. Cement supplied under the arrangement is marketed under the procuring entitys brand, safeguarding brand identity while leveraging shared infrastructure and resources.
Collectively, these MSAs enhance synergies across business operations, unlock cost efficiencies and promote environmentally responsible resource utilisation. Ambuja Cements remains committed to strengthening these collaborative models, aiming to enhance competitiveness, resilience and long-term sustainable value creation.
Capacity Expansion
During the year, total cement capacity increased to 109 MTPA, driven by the commissioning of 10.7 MTPA of new grinding capacity across Marwar, Farakka, Sankrail, Sindri and Krishnapatnam. In addition, clinker capacity was enhanced by 7 MTPA at Jodhpur and Bhatapara, taking the Companys total clinker capacity to 69 MTPA.
Branding
On-ground Activation
Adani Cement enhanced its on-ground brand presence through a strategic, multi-touchpoint approach spanning high-footfall locations, transit ecosystems and culturally significant clusters.
By combining site-level branding with targeted deployments across urban and semi-urban markets, the Company supported brand visibility and customer engagement. A key pillar of this strategy was the effective leveraging of Group synergies, with Ambuja and ACC products prominently showcased across Adani Airports and CNG stations, complemented by partnerships such as Agrifresh. This enabled wider reach and delivered a cohesive brand experience across diverse touchpoints. The Company further deepened its connect with communities through targeted branding in pilgrimage corridors and participation in major cultural events such as Rath Yatra and Pandharpur Wari. High-impact activations, including branded utilities and sponsorships, reinforced visibility and enhanced premium positioning. Additionally, a strong focus on out-of-home (OOH) media and point-of-purchase visibility, supported by hoardings, transit media and innovative site branding such as green net installations, amplified on-ground presence. Campaigns like Saara Aakash blended festive engagement with social responsibility, promoting road safety while fostering stakeholder participation.
Digital Engagement
Adani Cement continues to strengthen brand affinity through purposeful storytelling, culturally resonant campaigns and integrated digital engagement initiatives. By celebrating people, traditions and shared values, the Company has built meaningful emotional connections with its stakeholders across diverse platforms.
Festive campaigns, including Ganesh Chaturthi and Diwali, effectively blended cultural relevance with brand values, creating deeper engagement and reinforcing emotional resonance. The Diwali film, centred on themes of home, belonging and relationships, exemplified the Companys focus on storytelling that connects at a personal level. Similarly, Independence Day and thematic content around Childrens Day and International Mens Day contributed to over 25 million views, enhancing digital engagement and visibility. Targeted campaigns such as Black Friday delivered strong performance, achieving over 29 million impressions and significant audience reach, supported by focused content and effective segmentation. The Company further expanded its reach through a multi-platform strategy, engaging over 200 million audiences via television, cinema, news integrations and digital channels, ensuring sustained brand salience. In addition, Adani Cement explored emerging platforms, piloting its presence on quick commerce channels and generating over 40 million impressions within a short span, enhancing brand discoverability among urban consumers.
High-impact Sports Engagement
Adani Cement strengthened brand visibility through strategic sports associations, including the Indian Premier League, Womens Premier League and Adani Marathon. These initiatives enabled extensive reach, connecting with over 400 million viewers and engaging diverse audiences nationwide. Through compelling storytelling and on-ground activation, the Company enhanced brand recall while aligning with themes of performance, aspiration and community engagement.
Driving Partner Engagement through Dhanvarsha
Dhanvarsha, a quarterly flagship initiative, brings together channel partners, influencers and contractors to celebrate shared success through a transparent and structured reward platform.
Blending digital and on-ground engagement, the programme recognises contributions across stakeholders and their families, engaging over 50,000 participants nationwide.
It stands as a strong testament to partnership, trust and collective growth within the Adani Cement ecosystem.
Channel Enablement
Adani Cement continues to reinforce its partner ecosystem through structured engagement platforms that promote collaboration, recognition and shared growth. Initiatives such as the Dealer CEO Club and Gruh Laxmi Utsav brought together top-performing partners, enabling strategic dialogue, recognising excellence and aligning stakeholders with the Companys growth vision. These efforts are complemented by regional meets and annual conferences that foster trust, strengthen relationships and reinforce a sense of belonging among partners and their families. The Company has also leveraged innovative approaches such as influencer marketing and festive engagement to enhance visibility and deepen connections. Campaigns like Maha Dhanvarsha and curated festive gifting initiatives have strengthened goodwill, improved in-store visibility and amplified brand recall across the channel network. Focused engagement with professionals and contractors has further strengthened the ecosystem. Engineers Day initiatives, featuring technical sessions and knowledge-sharing platforms, enhanced brand affinity among industry stakeholders. Meanwhile, large-scale contractor programmes such as Reward Connect witnessed record participation, driving loyalty and preference for premium offerings. Additionally, unique storytelling initiatives, such as the launchpremium of Adani Cement Playing Cards, have reinforced brand identity by celebrating shared values, heritage and partnerships.
Product-led Communications
Adani Cement strengthened its brand presence through a cohesive blend of cultural activations, creative refreshes and multi-channel media strategies, enhancing premium positioning and consumer engagement. High-impact digital campaigns and influencer initiatives drove strong visibility while sports marketing and regional outreach extended reach across diverse audiences.
The Company reinforced brand equity through refreshed creatives for key products, improving differentiation and recall. A comprehensive 360° media approach, including digital, outdoor, cinema and innovative audio formats amplified messaging, reaching over 300 million audiences and strengthening brand salience across markets.
Logistics
Ambuja Cements advanced a strategic logistics transformation in FY 2025-26 to reduce delivered costs, enhance service and support capacity expansion. Through coastal modal shift, rolling-stock investments, network densification control, it shortened lead distances and increased direct dispatch to 61%.
Lead distance is set to decline further with increased footprints, with sea logistics targeted at 5%.
Major Developments across Logistics
y Marine Expansion y Terminal network & coastal footprint y Rolling-stock modernisation y Blenders & localisation y Digital control & visibility y Demand-supply optimisation y Strategic partnerships y Greening logistics y Process automation
Internal Control Systems and their Adequacy
The Company has established robust internal control systems and best-in class commensurate to its size and operational scale. These comprise: y Well-formulated policies and procedures that facilitate effective business operations with governance across all major activities. y Well-defined delegation of power with authority limits for approving revenues and capex expenditures at the level of organisational hierarchy to enable ease of decision-making in day-to-day affairs and realising long-term and short-term business goals y The Company effectively exerts financial control through the annual budgeting process and monitors it through monthly reviews of all operating and service functions y A state-of-the-art ERP system to record data for accounting, consolidation and management and connect different locations for efficient exchange of information y A well-established online compliance management system that provides comprehensive compliance with all laws applicable to the business and updates the same at each operating unit through the management dashboard y Well-established multidisciplinary management audit and assurance services delivered via qualified accountants, engineers and SAP-experienced executives who carry out extensive audits throughout the year across all functional areas and submit reports to the management and Audit Committee about the compliance with internal controls and efficiency and effectiveness of operations and critical process risks y An AI-based potential duplicate invoice detection system was implemented by Management Audit & Assurance Services during the year, thereby allowing review of the entire population of vendor invoices, instead of reviewing selected samples, with Internal Audit in collaboration with the Digital Team has rolled out several dashboards of critical audit exceptions which are of a recurring nature. This helps in identifying audit exceptions in real time basis y A risk-based annual internal audit plan whose scope is reviewed and approved by the Audit Committee of the Board of Directors y The Company conducts audits based on stringent standards to review the design effectiveness of internal control systems and procedures to manage risks, ensure monitoring control, comply with relevant policies and procedures, and recommend improvement measures y The Audit Committee of the Board of Directors regularly reviews the execution of the audit plan and the adequacy and effectiveness of internal audit systems. It monitors the implementation of internal audit recommendations, including those relating to strengthening risk management policies and systems In terms of governance, the Company has deployed independent committees for monitoring the effectiveness of internal controls
Risk Management Committee
The Risk Management Committee is constituted in line with the Companies Act, 2013 and SEBI (LODR) Regulations, 2015 and reports to the Board of Ambuja Cements Limited. It assists the Board in overseeing risk appetite, risk management frameworks and governance structures. The Committee comprises of four members with three members (75%) are Independent Directors and is chaired by an Independent Director elected from among them.
Mergers & Acquisitions Committee
A sub-committee of the Risk Management Committee of Ambuja Cements Limited, reviews acquisition strategy, proposed mergers, investments, divestments and related due diligence processes. Accountable to the RMC, it comprises three members with two members (66.67%) are Independent Directors and is chaired by an Independent Director elected from among them. The Committee meets as required, follows defined quorum norms and reports its recommendations to the RMC.
Legal, Regulatory & Tax Committee
The Legal, Regulatory & Tax Committee, a sub-committee of the Risk Management Committee of Ambuja Cements Limited, reviews legal, tax and regulatory matters, including compliance programmes. Accountable to the RMC, it comprises of four members with three members (75%) are Independent Directors and is chaired by an Independent Director elected from among them. The Committee meets at least twice annually, follows defined quorum norms, and reports its recommendations to the RMC.
Reputation Risk Committee
The Reputation Risk Committee, a sub-committee of the Risk Management Committee of Ambuja Cements Limited, oversees risks related to the Companys reputation while fostering a culture of strong conduct and risk awareness. Accountable to the RMC, it comprises at least three members with two members (66.67%) are Independent Directors and is chaired by an Independent Director elected from among them. The Committee meets at least twice annually, follows defined recommendations to the RMC.
Commodity Price Risk Committee
The Commodity Price Risk
Committee, a sub-committee of the Risk Management Committee of Ambuja Cements Limited, reviews risks arising from commodity price exposures and promotes strong risk awareness and conduct standards. Accountable to the RMC, it comprises of three members with two members (66.67%) are
Independent Directors and is chaired by an Independent Director elected from among them.
Stakeholders Relationship Committee
The Stakeholders Relationship Committee is constituted in accordance with the Companies Act, 2013 and SEBI (LODR) Regulations, 2015, and reports to the Board of Ambuja Cements Limited. It oversees effective servicing and protection of stakeholder interests, including shareholders and other security holders. The Committee comprises of three members, with two members (66.57%) are Independent Directors, and is chaired by an Independent Director.
Corporate Responsibility Committee
The Corporate Responsibility Committee is a voluntary body constituted by and accountable to the Board of Ambuja Cements
Limited. It oversees significant strategies, policies and programmes relating to social responsibility and sustainability. The Committee comprises of four members with three members (75%) are
Independent Directors and is chaired by an Independent Director. The Committee meets at least four times annually, and follows defined quorum norms, with the Company Secretary serving as Secretary.
Nomination and
Remuneration Committee
The Nomination and Remuneration Committee is constituted in accordance with the Companies Act, 2013 and SEBI (LODR) Regulations, 2015, and reports to the Board of Ambuja Cements Limited. It evaluates the Boards skill, knowledge and experience, considering diversity, time commitment and suitability, identifies and recommends candidates with the requisite roles and capabilities. The committee comprises of four members, all being Non-Executive and Independent Directors and is chaired by an Independent Director from among them. The Company Secretary serves as a Secretary to the committee.
Information Technology and Data Security Committee
The Information technology and Data Security Committee is a voluntary committee constituted by and accountable to the Board of Ambuja Cements Limited. It oversees the adoption of advanced IT tools to drive process automation and value creation across the Company, while ensuring robust cybersecurity, data protection policies and sustainable safeguarding of critical information. The Committee comprises of four members with three members (75%) are Independent Directors and is chaired by an Independent Director.
Public Consumer Committee
The Public Consumer Committee is a voluntary committee constituted by and accountable to the Board of Ambuja Cements Limited. It formulates the consumer services policy and oversees consumer relationship management to ensure fair treatment and effective delivery of the Companys consumer-facing policies, practices and services. The Committee comprises of four members all being Independent Directors and is chaired by an Independent Director.
Corporate Social Responsibility
The Company advances community development through its CSR arm, Ambuja Foundation, driving strategic social investments for sustainable impact. Focused on enhancing the well-being and dignity of communities around its operations, its programmes have scaled through strong partnerships and stakeholder engagement. Key initiatives span water conservation, livelihoods, healthcare, education and sports, women empowerment, and infrastructure, delivering measurable and long-term social value.
Ambuja Cements places community engagement at the heart of its CSR strategy, impacting 3.72 million outreach across numerous villages through structured, evidence-based interventions. Guided by its CSR Committee and Community Advisory Panels, initiatives align with the UN SDGs and prioritise long-term value creation. Using participatory appraisals and baseline assessments, the Company designs region-specific programmes spanning water management, livelihoods, skills, health, womens empowerment, education, sports promotion and rural infrastructure.
Water Resource Management
Water security remains central to the Companys CSR strategy, particularly in water-stressed rural regions. Through a holistic water stewardship approach, it promotes safe drinking water, rainwater harvesting, groundwater governance and efficient irrigation practices in partnership with communities and government agencies. Key initiatives include rooftop harvesting systems, check dams, pond revival and micro-irrigation coverage. Flagship project is in term of providing access to potable drinking water by way of facilitating drinking water distribution system in water scares region including in Rajasthan, Gujarat and Chhattisgarh. The comprehensive water works have expanded storage capacity, strengthened irrigation, improved livelihoods and reduced the burden of water collection, reinforcing long-term rural resilience and sustainable water management.
Agro-based Livelihoods
Agriculture remains central to rural livelihoods and the Companys initiatives promote sustainable farm development through agri-technology awareness, soil testing, crop diversification and climate-smart practices. Promotion of animal husbandry for supplementary income clean energy irrigation and farmer collectives strengthens earnings and resilience. In Himachal Pradesh, under watershed project supported by NABARD, FPO-led market linkages have empowered over 1,100 farmers, while land revitalisation expanded cultivable areas by 191%. In Uttarakhand, the Bhu Amrit FPO has enabled 630 organic farmers to access national markets, improving their profitability and positively contributing towards long-term rural sustainability.
Skill and Entrepreneurship
Ambuja Cements empowers rural youth through structured skill development and entrepreneurship initiatives delivered via its 14 Skill and Entrepreneurship Development Institutes across multiple states. Offering future-ready courses, including EV assembly and healthcare training, the programmes emphasise placement, self-employment and one-year post-training support. Case studies from Chhattisgarh, Maharashtra and Gujarat highlight improved employability, financial independence and pathways to green industries and national service careers. For over 19 years, the initiative has created sustainable livelihood opportunities among underserved communities.
Community Health
The Company delivers healthcare through a last-mile, community-led model that reduces access barriers and provides care through mobile units, clinics, camps and telemedicine. Local health workers and institutional partnerships support preventive outreach and ensure long-term sustainability of healthcare projects. A nationwide blood donation drive was also organised by Adani Cement which resulted in the collection of 8,021 units of blood. Besides, initiatives like tobacco-free schools in Bathinda and the development of kitchen gardens have benefitted 400 families, improving nutrition, health awareness and community resilience. The focus is on maternal health care, curative health services, non-communicable diseases and targeted intervention for vulnerable groups.
Women Empowerment
Ambuja Cements advances womens inclusion by strengthening Self-Help Groups and expanding SHG-led enterprises. It has led to the independence of numerous women. In partnership with NABARD, it enables credit access through Joint Liability Groups and supports womens federations with governance and financial
Initiatives have been undertaken for promoting leadership and entrepreneurship among women. The success of several, agri-enterprises in West Bengal, Maharashtra, Chhattisgarh, Gujarat and Himachal Pradesh is in continued support to SHGs and local women federation in building their capacities in operational and governance aspects that reinforce the Companys commitment to supporting sustainable livelihoods and community empowerment.
Quality Education and Sports Promotion
Ambuja Cements promotes holistic education by upgrading school infrastructure. By offering access to safe water, promoting sanitation in schools and the development of STEM labs, libraries and sports facilities, these schools support the growth and development of students. Issues related to school dropouts are also addressed, especially among girls and awareness initiatives for menstrual hygiene and teacher capacity-building are undertaken. Initiatives such as Khel Mahotsav, inclusive athlete mentorship and rural library revitalisation reflect its commitment to equitable,confidence-buildingand future-ready learning environments. Through Ambuja Manovikas Kendra, it supports children with special needs through life, sports and vocational training. Special focus is in terms proving support to facilitate the participation of AMK students in national competitions and special Olympics. literacy training.
Rural Infrastructure
The Company strengthens rural infrastructure through a need-based, community-led approach that enhances mobility, safety, water access and access to shared public assets. Projects for the development of roads, solar lighting, water storage and community facilities foster collective ownership.
In Chhattisgarh, water and infrastructure initiatives significantly reduced water scarcity and improved health outcomes. In Rajasthan, water conservation enabled year-round farming and income growth. Nutrition centres in Punjab promote preventive healthcare, while renovated libraries have encouraged learning, thereby promoting resilient, self-sustaining rural communities where people can lead dignified lives.
Human Resources
At the Adani Group level, people philosophy is anchored in building a future-ready, values-driven workforce that contributes meaningfully to Indias sustainable socio-economic progress. Guided by a vision of safety, inclusivity, empowerment and continuous learning, the Group focuses on nurturing technically strong, digitally fluent and ethically grounded professionals aligned to long-term nation-building goals. A cornerstone of this strategy is structured cadre hiring and leadership pipeline development. Over the past three years, more than 3,000 graduate and postgraduate engineers have been onboarded, supported by rigorous induction, technical training and performance-linked development pathways. A lean and agile operating model enables faster decision-making, broader role ownership and cross-functional exposure, creating an adaptive workforce equipped for scale and complexity.
The Group also integrates business growth with social advancement through large-scale skilling and livelihood initiatives, training over 10,000 individuals and enabling first-timeemployment for thousands, while continuously upskilling existing employees for digital readiness. Workforce welfare remains a priority with significant investments in safe accommodation, sanitation, healthcare access and remote-site amenities, reinforcing ESG commitments. Accessibility and inclusion are strengthened through 100% compliance with the RPwD Act, alongside infrastructure upgrades and inclusive workplace policies. Advanced HR analytics, digital platforms and AI-enabled tools support data-driven talent management, while proactive compliance with New Labour Codes ensures governance readiness. Employee engagement is driven by leadership-led initiatives such as the Group-wide Your Voice survey, pay-for-performance reforms, internal mobility platforms and digital HR services. Anchored in the philosophy of Growth with Goodness, the Adani Groups Employee Value Proposition combines purpose-led careers, early leadership ownership, cross-business mobility and technology-enabled transformation creating a resilient, ethical and high-performance human capital ecosystem designed for sustained future growth.
Ambuja Cements continues to build upon the Groups approach and believes in nurturing human potential to achieve organisational success. It undertakes several initiatives for fostering an inclusive culture where every individual is given the opportunity to excel professionally as well as personally. To remain future-ready, various learning and development initiatives have been developed. Besides, collaborations and industry partnerships help employees to hone individual skills and remain aligned with industry requirements. With a diverse workforce across operations, engineering, logistics and leadership, including persons with disabilities, employees drive technical excellence, resilience and long-term growth at Ambuja Cements.
The Company remains committed to building a resilient, future-ready workforce anchored in capability, meritocracy and cultural alignment. During the year, focused initiatives were undertaken to strengthen talent acquisition, accelerate internal progression and ensure seamless organisational integration.
Cadre Hiring and Future Talent Pipeline
Cadre hiring continued as a strategic priority with focused induction of Graduate Engineer Trainees (GETs), Diploma Engineer Trainees (DETs) and Management Trainees (MTs). This approach strengthened the long-term talent pipeline and ensured sustained availability of technical, operational and leadership capabilities aligned to evolving business needs.
Internal Career Progression and Promotions
The Cement Business recorded impressive number of promotions in a single financial year. This achievement reflects a strong commitment to internal career growth, merit-based progression and structured performance evaluation and succession planning processes across functions and geographies.
M&A Workforce Integration
Following the M&A transition, the Orient Cement workforce was smoothly integrated into the Adani Cement ecosystem. The process ensured continuity of employment, operational stability and alignment with shared people policies, governance standards and organisational values.
Diversity, Equity and Inclusion
Diversity, Equity and Inclusion (DEI) is central to Ambuja Cements human capital strategy, fostering a respectful and representative workplace grounded in equal opportunity and zero tolerance for discrimination. Supported by regular training and a robust POSH framework, the Company advances inclusive practices across functions. It is strengthening gender diversity, with women holding a growing share of critical roles, and aims to enhance representation by 2030 through initiatives such as BeConnected. Fair, performance-linked and equitable pay practices further reinforce trust, transparency and workforce empowerment.
Talent Acquisition and Development
Ambuja Cements adopts a multi-channel recruitment strategy across digital platforms, professional networks, internal mobility and campus engagement drives to attract diverse, high-performing talent aligned with its culture and long-term vision. Employee retention is prioritised through structured career pathways, continuous learning and recognition programmes that foster engagement and growth. A robust digital learning ecosystem, including the e-Vidyalaya portal, offers virtual masterclasses and customised modules to strengthen technical and leadership capabilities, supported by active managerial involvement during onboarding.
The Companys Digital Dexterity Programme enhances future-ready skills through IoT, cloud and AI-enabled tools, improving operational efficiency and safety. Complementing this, the #Dronacharya Spirit initiative blends mentorship with advanced training technologies such as simulators and digital learning labs, reinforcing a culture of knowledge-sharing, innovation and continuous professional development.
Employee Engagement
Ambuja Cements fosters strong employee engagement through inclusive initiatives such as sports events, cinema evenings and open town halls that encourage dialogue and collaboration. Recognition programmes, including spot awards, Employee of the Month and Long Service Awards, celebrate performance and loyalty. Regular surveys support well-being and continuous improvement.
Employee Well-being
Ambuja Cements promotes holistic employee well-being through comprehensive physical, emotional and social support programmes. Flexible working arrangements, health insurance, regular checkups, childcare support and fitness initiatives encourage work–life balance and active lifestyles. Mental well-being is also supported through the Adani Cares platform, in partnership with professional counsellors. The Adani Emcare app provides easy access to healthcare for employees and their families. Eligible employees are also granted parental leaves, reiterating the Companys belief in nurturing an inclusive work culture.
Community-building initiatives such as the Adani Ahmedabad Marathon (#Run4OurSoldiers) and the Adani Cement Cricket League foster unity, pride and inclusivity across locations and functions. Recognition platforms like Dhanvarsha celebrate performance, safety and environmental excellence, reinforcing engagement, shared purpose and a strong culture of appreciation across the organisation.
Performance and Productivity
Ambuja Cements performance management system aligns individual goals with organisational priorities through SMART-based target setting, clear milestones and regular tracking. Continuous feedback, including half-yearly, annual and 360-degree reviews, promotes transparency and improvement. The appraisal framework uses merit-based evaluation to differentiate performance, identify development needs and guide rewards, promotions and career progression. Annual appraisals cover all eligible employees, ensuring accountability and high performance.
Industrial Relations
The Company has implemented a range of initiatives to foster strong and meaningful relationships between employees and management, grounded in open communication, mutual respect and collaboration. Regular feedback sessions, team-building activities and transparent decision-making processes nurture trust and align objectives. These efforts support an inclusive, engaged workplace culture that drives shared success.
Health and Safety
At Ambuja Cements, health and safety is considered integral to employee well-being and it remains committed to achieve zero harm through a comprehensive Occupational Health and Safety (OHS) management system.
Industry-first innovations such as drone-based confined-space inspections, automated clinker sampling, portable safety cages and AI-enabled monitoring reduce downtime and enhance process reliability. It also plays an important role in supporting clear policies for implementing advanced safety systems.
The ROKO-TOKO initiative, for instance, empowers employees to stop unsafe acts and encourages near-miss reporting via a dedicated app. Over 10,000 IoT sensors and advanced surveillance systems support real-time risk management. The RESQ (Reliability, Environment, Safety and Quality) framework, combined with continuous employee training, global benchmarking of safety procedures and standards and a focus on mental well-being embeds a strong safety culture within the organisation.
RedefiningSilo Safety
Adani Cement has transformed silo overhauling, traditionally a high-risk and complex activity, through structured planning, cross-functional coordination and clearly defined accountability of safety standards. By integrating drone-assisted inspections and Cardox blast systems with safety protocols, the Company has significantly enhanced operational control and risk mitigation across Ambuja Cements sites. This safety-first approach ensures predictable execution of safety measures while reinforcing a culture of continuous improvement and engineering excellence. The Silo Championship Workshop 2025 brought together 43 champions to advance Zero Harm, standardise best practices and promote man-less cleaning innovations. Demonstrated during critical shutdowns, robust safety governance procedures enabled controlled execution of processes. These initiatives reduced cleaning time from over 150 days to 90 days, lowered dead stock and achieved zero injuries—positioning safety as a true business enabler for driving organisational resilience, efficiency and ensuring sustained performance.
Driving Safety through Governance
Ambuja Cements upholds a robust safety governance framework that embeds occupational health and safety across all operations.
Guided by clear policies, defined responsibilities and structured oversight, safety is integrated at every organisational level. A multi-tier Safety Management System supports this approach, with senior leadership setting strategic priorities and dedicated councils translating them into actionable plans. Taskforces and site-level safety committees drive execution, review risks and monitor performance. Regular committee meetings and the integration of safety KPIs into senior leadership appraisals further reinforce accountability, strengthening a culture of safety excellence throughout the organisation.
Embedding Zero Harm
In FY 2025-26, Ambuja Cements strengthened its Zero Harm culture by celebrating safety excellence across sites through structured recognition and engagement initiatives. The Company honoured 300 Safety Heroes for exemplary conduct, extending recognition to their families through Letters of Honour. A festive Dhanvarsha Lucky Draw rewarded Safety
Heroes, Safety Evangelists and drivers, promoting vigilance during high-risk periods.
Targeted campaigns addressing road, electrical and tools safety, alongside initiatives such as ROKO-TOKO and NO Repeat, embedded safe behaviours through micro-learning, toolbox talks and peer recognition. These efforts enhanced procedural compliance, increased near-miss reporting and reduced repeat incidents, fostering a proactive, ownership-driven safety culture.
Leadership Commitment and Governance
y Huge investment on structural integrity on enhancing safety in plant infrastructures y No budget constrains for safety related improvements y In the projects, integrating safety by design in ongoing and upcoming projects y Investment in safety capability building across sites and functions y A five days, 6-8 members and led by Unit head from another unit first party safety audit for strengthening the safety system. With 420 man-days invested in first party safety audit which is lead by site head of another plant and supported by 6-8 members from different disciplines and different sites
Training and Capability Building
y Subject Matter Experts were deployed for strengthening capability building at sites. y Process safety, incident investigation, and controls for silo cleaning, coal mills y Conducted safety workshops on process safety, silo cleaning, coal mill safety, and shared incident-learning videos y Conducted Saksham training for contract workers using video-based learning modules
Technological
Intervention for System Assurance
Ambuja Cements uses the SafeX tool for reporting safety indicators, aligning with group standards. The Company also adopted advanced technologies like drones for high-risk processes such as shutdowns and silo cleaning, Life Saving Control, Boots on Ground Critical safety parameters are managed and monitored through the One India dashboard, enabling effective safety oversight. Additionally, system compliances are ensured through regular safety management system audits.
#WeCare
Ambuja Cements prioritises people and is committed to achieving zero harm across its workforce, including employees, associates, and contractors. By focusing on hard controls safety audits, and robust reviews, the Company drives its WeCare framework—a care-based safety management system. competency building, and cultural shift initiatives at the core, Ambuja fosters a robust safety culture. Additionally, various programmes and assurance audits are implemented to strengthen risk awareness and mitigation across its plants.
Business Risks and Opportunities
Risks and Areas of Concern
At Ambuja Cements, an Adani Group company, Enterprise Risk Management (ERM) is an annual, structured process designed to identify risks and opportunities while strengthening the Companys ability to build a sustainable business and a robust risk intelligence ecosystem across functions. The ERM framework involves a comprehensive assessment of the business environment to identify and prioritise key risks. The Company embraces a risk aware culture, where in the entire organisation formally practices a standard framework, speaks the same risk language and is proactive and well ahead of the curve in terms of identifying and treating risks effectively. A functional approach is adopted, with each department assessing current and future operations to identify potential risks and opportunities. These inputs are consolidated to create a company-wide risk profile. For critical risks, mitigation plans are developed and closely monitored by senior management to ensure operational efficiency, regulatory compliance and business continuity. While growth opportunities remain strong, the business continues to operate in an environment characterised by cost volatility, competitive intensity and regulatory evolution.
Key Risks and Mitigation Measures
Maintaining Market Position in a Dynamic Industry Environment
| Description | Mitigation Measures |
| The Indian cement market is evolving rapidly, with consolidations and ongoing capacity additions increasing competitive pressure on market share and profitability. | To mitigate this risk, Ambuja Cements is focusing on capacity expansion, thereby strengthening its market position across India. In addition, the Company is enhancing its brand equity through innovation and digitalisation to remain competitive and profitable. |
R2 Compliance with Changes in Regulatory Landscape
| Description | Mitigation Measures |
| Regulatory requirements are evolving rapidly across countries in response to climate and environmental concerns. Non-compliance with these new standards introduces significant complexity, with potential reputational and financial consequences. Addressing these challenges necessitates transformation, which entails upgrading and modifying strategies, which can often involve substantial costs. | The Company is investing in various initiatives across its operations to lower carbon emissions and comply with the new emission standards for dust, SOx and NOx, as mandated by the Ministry of Environment, Forest and Climate Change (MoEF&CC). These initiatives help ensure compliance with environmental regulations and minimise any adverse impact. |
R3 Fuel and Raw Material Security Challenges
| Description | Mitigation Measures |
| The cement industry is capital- intensive and heavily reliant on energy and resources (like limestone, fly ash and coal), which constitute of operating significant costs. Consequently, effective cost management and efficiency improvements are critical to the industry\u2019s sustainability and competitiveness. | Ambuja Cements prioritises long-term supply agreements to ensure business continuity by optimising its fuel mix, enhancing plant the use of alternative fuels such as WHRS and solar energy, while also ensuring reliable fly ash availability through long-term sourcing agreements. |
R4 Cybersecurity Threats
| Description | Mitigation Measures |
| Cybersecurity is of utmost importance within the organisation. Ambuja Cements continuously identifies and mitigates potential data leakages that could threaten its information systems. Simultaneously, measures are being implemented to establish a secure and monitored environment for the use of AI tools and solutions. As the digital landscape evolves nationally and globally, Ambuja Cements recognises the need for the construction sector to adapt, driving the development of more efficient and effective solutions. | Ambuja Cements operates within a secure environment, supported by advanced cybersecurity solutions and air-gapped, cyber-safe backup procedures to protect critical systems. Regular upgrades, patching, policy reviews and user awareness programmes strengthen resilience across networks, cloud infrastructure, data centres, business applications and cybersecurity frameworks. |
R5 Health and Safety Priorities
| Description | Mitigation Measures |
| Health and safety are fundamental to how Ambuja Cements operates, requiring a multidisciplinary, collaborative approach, with a strong commitment from all stakeholders across every level of the organisation. | Ambuja Cements continuously reviews systems and processes to enhance frontline safety. Initiatives such as Unchaai Kendra and Life-saving Safety Rules raise awareness and help prevent accidents, while regular risk assessments further support onsite and offsite measures in Ambuja Cements\u2019 commitment to achieving \u2018Zero Harm\u2019. |
R6 ESG Risks
| Description | Mitigation Measures |
| The main ESG Risks fall under the category of climate risk, water risk and biodiversity risk. Climate risks consists of physical risks (acute: flooding, droughts, etc; chronic: heat stress, water stress, etc.) and transitional risks (regulatory, technology, market, and reputation risks) which may impact operations and supply chains. The water stress in certain areas may impact water availability for operations as well as communities around. The dependencies and impact of our operations on the surrounding ecosystems may cause biodiversity risks. | A strong climate governance mechanism is in place, supported by clear metrics, resilient infrastructure planning, emergency preparedness, and continuous monitoring aligned with climate targets, water efficiency and conservation initiatives and biodiversity conservation and enhancement. |
R7 Natural Resource Availability
| Description | Mitigation Measures |
| The cement industry is heavily reliant on natural resources such as limestone and coal. Ensuring a continuous supply of these essential materials, while maintaining optimal cost and quality standards, is critical for smooth business operations. | To mitigate risks associated with natural resources, Ambuja Cements is enhancing operational efficiency to optimise resource utilisation. The Company is also prioritising resource conservation, reuse and recycling, implementing initiatives to improve the clinker factor and thermal substitution rate, alongside investments in renewable energy and WHRS systems to reduce reliance on non-renewable sources. Additionally, Ambuja Cements is investing in coal and limestone mines to secure the supply of key raw materials, aiming to enhance sustainability, minimise environmental impact and build a more resilient supply chain. |
R8 Energy Security
| Description | Mitigation Measures |
| Energy security is critical for Ambuja Cements, as it directly affects both operations and overall production costs. With energy expenses portion constituting a significant of production costs, particularly during the energy-intensive kilning and grinding processes, efficient management of energy consumption is essential for the Company. | Recognising the significance price inflation, Ambuja Cements implements a strategy to diversify fuel sources, including deploying alternative fuels. This approach minimises the impact of fluctuating energy prices and supports sustainability. The Company continually evaluates energy procurement options and implements innovative technologies to improve energy efficiency and operational resilience, ensuring it remains competitive in a dynamic cement industry. |
R9 Project Execution
| Description | Mitigation Measures |
| Project execution is central to the Company\u2019s vision of achieving 119 MTPA by FY 2026-27, with large- scale projects already underway at multiple sites. Ensuring timely completion, upholding the highest safety and quality standards, and adhering to budgetary targets remain Ambuja Cements\u2019 foremost priorities. | The Company leverages synergies with the Adani Group\u2019s project management arm to execute large-scale projects efficiently. Strong cash flow through internal accruals and an EPC-led project delivery model with global suppliers and streamlined processes under the Projects team\u2019s 5S approach help achieve maximum efficiency, speed and scale. |
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