India Cements unit to pare entire stake in Indonesian arm

3 Dec 2025 , 11:45 AM

India Cements Ltd announced that its subsidiaries — PT Coromandel Minerals Resources, Indonesia, and Raasi Minerals Pte Ltd, Singapore — have signed a share sale and purchase agreement. This pact underlines divestment of their entire shareholding in PT Adcoal Energindo, Indonesia.

The transaction has a proposed consideration of IDR 10 Billion (approximately ₹5.4 Crore).

On completion of this transaction, PT Adcoal will not be a subsidiary, and PT Mitra Setia Tanah Bumbu, in which PT Adcoal holds a 49% stake, will also cease to be an associate company.

PT Adcoal is not a major subsidiary and contributed only about 0.5% to the company’s turnover in FY25. India Cements commented that the sale agreement was entered into on December 2, 2025. The company expects to complete the project within a period of six months.

The company also stated that the transaction is not a related-party transaction. The buyers – two Indonesian citizens are not in any way linked to the promoter group.

This update came after India Cements posted a sharp turnaround in its results for the quarter ended September 2025. The company registered a net profit of ₹8.80 Crore as compared to ₹339 Crore in the previous corresponding period. Revenue registered a 9.30% year-on-year growth at ₹1,117 Crore. EBITDA for the quarter stood at ₹81.70 Crore.

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