Sanghi cement plans get proxy thumbs-up
Mint Mumbai|February 07, 2024
InGovern said the deal would allow higher capacity utilization for Sanghi
Nehal Chaliawala
Sanghi cement plans get proxy thumbs-up

<25% Installed capacity utilization by Sanghi Industries

Cement maker Sanghi Industries Ltd has received support from proxy advisory firm InGovern for its proposals to purchase bulk coal from Adani Enterprises Ltd as well as sell cement it produces in bulk to Ambuja Cements Ltd and its subsidiary ACC Ltd. 

Ambuja Cements had acquired a majority stake in Sanghi Industries last year. The Adani Group in 2022 acquired Ambuja Cements and ACC.

InGovern observed that although the price decided for the sale of cement and clinker was below market benchmarks, the transaction would ensure higher capacity utilisation at Sanghi Industries, helping it return to profitability.

"Given that the capacity of Sanghi is grossly underutilized, receiving of advance payment for confirmed bulk purchase from (Ambuja) and ACC will translate into profits for the company," InGovern said in a report.

Other major domestic proxy advisory firms do not cover Sanghi Industries. 

Denne historien er fra February 07, 2024-utgaven av Mint Mumbai.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra February 07, 2024-utgaven av Mint Mumbai.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA MINT MUMBAISe alt
Unregulated and volatile: Is crypto worth the gamble?
Mint Mumbai

Unregulated and volatile: Is crypto worth the gamble?

India’s crypto landscape is a complex mix of volatility, cybersecurity risks and regulatory gaps

time-read
3 mins  |
November 29, 2024
A 'dark' tour of Ukraine's war-ravaged cities
Mint Mumbai

A 'dark' tour of Ukraine's war-ravaged cities

Tour companies are offering thrill-seeking tourists packages to visit sights of tragic events, hoping to make money and raise awareness

time-read
2 mins  |
November 29, 2024
Shades of art and coffee
Mint Mumbai

Shades of art and coffee

A Mint guide to what's happening in and around your city

time-read
1 min  |
November 29, 2024
Mint Mumbai

AI effect: Business efficiency but puffed-out workers?

Upskill. Upgrade. Retrain. Reskill. Words that are sprinkled liberally in the business updates of many listed firms of India Inc. While companies have begun to boast of their fast-increasing count of workers skilled in the use of artificial intelligence (AI) tools, for us employees, the quickened pace of upskilling seems to be a race. A race that many did not volunteer to participate in, but cannot afford to watch from the sidelines. It is ironical that AI, which is expected to ease business complexities, may end up exhausting employees being pushed to Upskill, Upgrade and Retrain.

time-read
3 mins  |
November 29, 2024
Here's how India can address the emerging scarcity of fresh water
Mint Mumbai

Here's how India can address the emerging scarcity of fresh water

It's time for the country to invest in future supplies through desalination plants that could be set up along our vast coastline

time-read
3 mins  |
November 29, 2024
It won't be easy for Bessent to fix US finances but he should
Mint Mumbai

It won't be easy for Bessent to fix US finances but he should

Trump's chosen Treasury secretary will face a daunting challenge

time-read
3 mins  |
November 29, 2024
India should consider a jobs-linked incentive scheme
Mint Mumbai

India should consider a jobs-linked incentive scheme

Employees Provident Fund Organisation (EPFO) data shows that around 12-13 million formal jobs are added every year. This is good news. On the other hand, data from the Centre for Monitoring Indian Economy reveals an unemployment rate that has ranged from 7.2% to 9% this year.

time-read
3 mins  |
November 29, 2024
Small government: Back with a bang or whimper?
Mint Mumbai

Small government: Back with a bang or whimper?

Trump's push for a drastic scale-back of the American state could be a test case for others. Get it right, the economy booms. Get too radical, and big-bang reforms could backfire badly

time-read
2 mins  |
November 29, 2024
How to keep your FIRE alive: Smart financial planning tips
Mint Mumbai

How to keep your FIRE alive: Smart financial planning tips

Financial experts came together at the Mint Money Festival 2024 to discuss FIRE (financial independence, retire early), how to execute it, and things to look out for along the way.

time-read
3 mins  |
November 29, 2024
Mint Mumbai

Who doesn't love cash transfers but are these really the answer?

These schemes are easy to run and popular but do little to reduce the disadvantages women face

time-read
3 mins  |
November 29, 2024