Star Cement has dismissed recent reports suggesting acquisition talks with Adani Group’s Ambuja Cement. The company categorically denied the claims, labelling them speculative and inaccurate. Star Cement reaffirmed its commitment to transparency and compliance with SEBI disclosure norms.
In a filing to the stock exchanges, Star Cement responded to reports regarding a possible acquisition by Adani-led Ambuja Cement, clarifying that no discussions are currently taking place, nor are any planned.
On December 5, 2024, Star Cement’s share price (NSE: STARCEMENT) was trading 2% lower at ₹203.47 at 10:15 AM on the NSE. The stock opened at ₹209, slightly above its previous close of ₹207.64. This follows a surge of over 9% yesterday, driven by acquisition speculation, and the stock has gained 17.38% over the past five days.
In Q2 FY25, Star Cement reported a revenue of ₹642 crore from cement and clinker sales, a 10% increase from ₹585 crore in Q2 FY24.
However, the EBITDA declined by 7% year-over-year to ₹97 crore, with the EBITDA per ton dropping by 13% to ₹1,011.
Net profit also saw a significant decline of 86%, falling to ₹6 crore from ₹41 crore in Q2 FY24, reflecting challenges in profitability despite higher sales volume, which rose by 9% to 9.77 lakh tons.
Star Cement is a prominent manufacturer of cement and clinker in India, particularly recognised for its strong presence in the northeastern region of the country. With a focus on producing high-quality cement, the company caters to a diverse range of construction needs, including residential, commercial, and infrastructure projects. Known for its operational efficiency and sustainability initiatives, Star Cement has established itself as a trusted name in the industry.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
