Ambuja Cements ’ Q2 results show that the integration of Sanghi Industries, Penna Cement and Orient Cement has started reflecting meaningfully in volume growth, realisations and operating costs, analysts said.

The company posted its highest-ever Q2 sales volume at 16.6 million tonnes, up 20% y-o-y — nearly five times the industry growth — which brokerages attributed to the ramp-up and consolidation of the acquired assets.

“Orient, Penna and Sanghi have moved ~100% into Adani Cement brands,” analysts from Prabhudas Lilladher noted, adding that the shift has strengthened both Ambuja’s distribution reach and its ability to command higher pricing on the acquired capacities.

Similarly, experts from ICICI Securities highlighted acquisition benefits as a key driver, stating that volumes sur

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