Latest news with #IndiaCements
Time of India
14 hours ago
- Business
- Time of India
India Cements Capital sells 24.7% stake
CHENNAI: India Cements Capital (ICCL), a former associate company of India Cements, has sold 24.7% stake in the company to stock broking firm Paterson & Co. Chennai-headquartered ICCL is not part of India Cements, in which Ultratech Cement acquired the stake of N Srinivasan and family an year ago. Tired of too many ads? go ad free now In a stock exchange filing on Thursday, ICCL said Paterson & Co has acquired 53,72,000 shares comprising 24.7% stake. This will bring down the stake of majority shareholder Sri Saradha Logistics to 50.15% from 74.9%, though it will continue to hold the controlling stake. According to sources, the value of the deal was around Rs 8.5 crore. ICCL offers services in verticals including foreign exchange and share broking. India Cements forayed into financial services in 1990s by acquiring Aruna Sugar Finance and later renamed it as ICCL. The company commenced Full Fledged Money Changing activity in 1996. After UltraTech Cement took over India Cements last year, ICCL was hived off from the India Cements group. In July 2024, the promoter and promoter group comprising ICL Financial Services, ICL Securities and Srinivasan entered into agreements to sell their entire holdings of 1,04,21,750 equity shares constituting 48% of the paid-up equity share capital of the company to Sri Saradha Logistics, another entity in the promoter group. During FY25, ICCL recorded a revenue of Rs 4.6 crore.
Time of India
4 days ago
- Business
- Time of India
Sebi rule: UltraTech must sell 7% in India Cements
CHENNAI/MUMBAI: India Cements' new promoter, UltraTech Cement, will need to sell about 7 per cent of its stake, worth over Rs 667 crore, to meet the minimum public shareholding rules set by the capital market regulator. Tired of too many ads? go ad free now UltraTech currently owns about 82 per cent of India Cements, and the rules mandate that listed companies must have at least 25 per cent of their shares owned by the public. UltraTech's stake went over 75 per cent after an open offer that was triggered when its holdings in India Cements crossed a specific threshold. The open offer for an extra 26 per cent stake to India Cements' public shareholders was oversubscribed, which was rare in such offers. India Cements has until Feb 3, 2026, to ensure enough shares are held by the public. It can do this through a secondary share sale, preferential allotment, rights issue, or bonus issue. If it chooses rights or bonus issues, UltraTech will need to give up its rights to buy those shares. Currently, India Cements shares are trading at Rs 333 each, making the 7 per cent stake worth Rs 667 crore. An UltraTech spokesperson said according to Sebi regulations, at least 25 per cent of India Cements' equity must be held by the public within 12 months after the open offer ends, which was on February 4 of this year. "UltraTech will ensure compliance within the stipulated timeline." Data from Prime Infobase showed that in FY25, more than a dozen companies saw promoter holdings drop from over 75 per cent to 75 per cent or less. These companies include Sanghi Industries under Adani Group, Aditya Birla Sun Life AMC, Bikaji Foods International, and Cello World. UltraTech, part of the Aditya Birla conglomerate, took control of the loss-making India Cements in the Christmas of 2024. Tired of too many ads? go ad free now It paid Rs 9,060 crore for the acquisition, which expanded UltraTech's reach in the growing southern market. During its earnings call in April, UltraTech CFO Atul Daga shared that India Cements reached Ebitda breakeven in the first quarter after its takeover. It also sold over one million metric tons of cement in March, which he called a "second case of sweet success." Starting in April, with prices rising in the southern market, he believes this will lead to even better results for the company. In FY26, India Cements aims to surpass Rs 500 in Ebitda per metric ton. By FY27, it expects to cross Rs 800, and then hit a four-digit figure.
Mint
05-06-2025
- Business
- Mint
India Cements sets board meeting date to declare Q1 results 2025. Details here
Cement maker India Cements has announced that its Board of Directors will convene on Saturday, July 19, 2025, to consider and approve the standalone and consolidated unaudited financial results for the quarter ended June 30, 2025. "In terms of Regulation 29 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we write this to inform you that a meeting of our Board of Directors will be held on Saturday, 19th July, 2025, inter alia, to consider and approve the standalone and consolidated unaudited financial results of the Company for the quarter ending 30th June 2025," it said. The upcoming board meeting will provide an important update on the company's performance in the first quarter of the financial year 2025–26, especially in light of its turnaround in the previous quarter. As investors and analysts await the Q1 results, the focus will likely be on sustainability of earnings and operational performance under the stewardship of its new parent company. In line with its internal code of conduct and SEBI's guidelines to prevent insider trading, India Cements also announced the closure of the trading window from July 1, 2025. The window will remain shut for all designated persons, including insiders and their immediate relatives, until 48 hours after the Q1 results are publicly disclosed, i.e., until July 21, 2025. During this period, no trading in the company's securities will be permitted by persons having access to unpublished price-sensitive information. India Cements, now a subsidiary of Aditya Birla Group's UltraTech Cement, posted a consolidated net profit of ₹ 14.68 crore for the March 2025 quarter, marking a turnaround from a net loss of ₹ 60.55 crore in the same quarter last year. However, revenue from operations saw a 3.11 percent year-on-year decline to ₹ 1,197.30 crore, compared to ₹ 1,235.74 crore in Q4FY24. For the full fiscal year FY25, the company reported a narrower net loss of ₹ 143.88 crore, improving from a loss of ₹ 227.34 crore in FY24. The financial performance improvement is significant as it marks the company's efforts to stabilise operations after UltraTech Cement acquired the promoter's stake in December 2024, turning India Cements into its subsidiary. India Cements shares have delivered stellar returns over the past year, surging 85 percent. The stock gained 3 percent in May, following an 11 percent rise in April and a 9.3 percent uptick in March. However, earlier months had been turbulent, with a 4 percent dip in February and a sharp 30 percent fall in January. As of June 5, 2025, the cement stock was trading at ₹ 340.90, still about 11 percent below its 52-week high of ₹ 385.50 touched in July 2024. On the flip side, it has more than doubled from its 52-week low of ₹ 181.15, which was hit in June 2024. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
14-05-2025
- Business
- Mint
Shareholdings moves in Q4: Indian Inc's founders hike stakes in select small-cap firms
Capitalizing on the weak market sentiment in Q4FY25, promoters increased their holdings in several BSE-listed companies on a sequential basis. A Mint analysis of 3,716 such firms highlights these strategic moves, suggesting promoters consolidated their positions in their beaten-down companies. Roughly 12% of companies saw promoter stake increases in the March quarter, higher than 7.3% in the December quarter. Biggest increases Among the most striking examples was Flomic Global Logistics, a logistics and freight management company, where promoters ramped up their stake by over 42 percentage points—from 26.34% in Q3FY25 to 69.17% in Q4FY25. The stock has suffered a drop of 25.6% sequentially. In the cement sector, India Cements saw a similar show of promoter confidence, with holdings rising by more than 25 percentage points as the stock cracked 26.6% during the quarter. Jonjua Overseas, an IT consulting and solutions firm, also reported a comparable surge in promoter stake—up over 20 percentage points—while the stock declined 19%. Shriram Asset Management Co., a financial services company, saw promoter shareholding rise by 8.6 percentage points while its stock price declined by more than 26%. Also read Shareholding moves in Q4: Million new investors flocked to these firms The only exception among the top five was California Software Co., part of the IT services sector, where both metrics moved upward—its promoter holding rose over 26 percentage points to 62.26%, while the stock gained 11.2% during the quarter. 'Promoters are usually the most informed stakeholders in a company. An increase in their stake often signals confidence in future growth," said Bhavya Shah, head of research at Wallfort PMS. 'However, this should not be the only or dominant indicator driving investment decisions. Investors should look at the company in a holistic way and avoid investment solely based on one indicator." Trimming stakes While some promoters used the market dip as a buying opportunity, others went the opposite way, trimming their holdings—possibly due to funding needs, regulatory constraints, or strategic rebalancing. TTI Enterprise recorded the sharpest drop in promoter ownership, falling from 62.23% to 39.36% in the past two quarters. This was followed by Vodafone Idea, where promoter holding dropped from 38.8% to 25.57% alongside a 14.2% slide in share price. Ruchi Infrastructure saw its promoter stake dip by 968 basis points while its stock price plunged 44.8%—the steepest price drop among this select group of stocks, where promoter confidence waned. Indiabulls Enterprises also witnessed a 7-percentage-point decline in promoter holding, with shares falling 20.6%. Only India Steel defied this larger trend: its stock edged up 1.6% during the quarter, while promoter holding fell to 36.83% from 48.5% on a sequential basis. Also read Shareholdings moves in Q4: Mutual funds load up on 5 mid- & small-cap laggards Though Shah cautioned against oversimplifying promoter stake movements. 'Reductions in promoter shareholding aren't necessarily negative. They may stem from strategic reasons such as strengthening the balance sheet or regulatory compliance, rather than opportunistic profit-booking," he noted. 'Conversely, while a high promoter stake is often viewed positively, we've seen companies with low promoter holding excel through professional management and robust governance," he added. Overall trend Although some companies have experienced a rise in promoter ownership, a wider analysis of India Inc. indicates a persistent downward trajectory in promoter stakes. The aggregate promoter holding across the 3,716 firms analyzed fell to 45.9% in Q4FY25, from 48.94% a year ago. The decline was gradual throughout the year—from 48.84% in Q1 to 47.98% in Q2, and 47.57% in Q3. This shift likely reflects capital-raising efforts, strategic stake sales, or a move toward more diversified shareholder structures. Among companies with a market capitalisation above ₹500 crore, promoter buying was spread across varied sectors, including construction, steel, BFSI, auto ancillaries, chemicals, and IT. But analysts say the trend appears more company-specific than indicative of a sector-wide shift. 'Promoter actions this quarter reflect a mix of conviction and caution," Shah said. 'And, as always, the reasons behind stake changes matter more than the numbers themselves." This is the tenth part of a series of data stories on the latest shareholding pattern. Read previous parts of our shareholding series here.
Economic Times
12-05-2025
- Business
- Economic Times
Promoters increase stakes in Indian companies amid stock market weakness
ET Intelligence Group: At a time when the promoter holding in Indian companies have fallen to a record low, some promoters have used the recent weakness in the stock market to increase their stakes. The number of companies where the promoter holding increased sequentially reached a six-quarter high of 33 in the March 2025 quarter amid the selling pressure from foreign investors during the period. Major companies in the list include Jindal Steel and Power, Godrej Industries, IFCI, India Cements, Usha Martin, and Maharashtra Seamless. ADVERTISEMENT In addition, 60 companies showed higher promoter holding from the year-ago levels. These companies were part of a common sample of 431 companies from the BSE 500 index. The sample companies have reported shareholding data over the past five years and each of them had promoter stake of 25% or more. In the December 2024 quarter, 21 companies had reported a sequential increase in the promoter holding. The stock market remained volatile during the March quarter with benchmark indices losing over 1%. Foreign portfolio investors (FPI) remained net sellers of Indian equities in March for the third consecutive month though they turned bullish in the second half of the month and continued to invest through April. While select promoters used the weak market sentiment to increase their holdings, at a broader scale the promoter stake in India Inc has been dwindling. According to a recent report by Motilal Oswal Financial Services, promoter stake in Nifty 500 fell by 140 basis points year-on-year to 49.5% in March 2025, while the ownership of domestic institutions rose by 160 basis points to a record high of 19.2%, surpassing the FPI holding of 18.8%.Among sample companies, the promoter group of Godrej Industries, a conglomerate involved in various segments including consumer products, chemicals, agriculture, and real estate, raised its stake to 69.7% in the March quarter from 65.7% in the previous quarter. The company's stock had fallen to a low of ₹826 in the middle of the March quarter from ₹1,167 at the beginning of the quarter. The stock has recovered since, closing at ₹1,082 on the BSE on Friday. In the case of India Cements, UltraTech which acquired it in July 2024, raised the stake sequentially to 81.5% in the March quarter from 55.5%. UltraTech needs to reduce the stake to 75% or less by February 2026 to comply with the regulatory requirement of minimum public shareholding of 25%. (You can now subscribe to our ETMarkets WhatsApp channel)
