FY 2024-25 has been transformative, pushing us to rethink our business strategies and synergies in a comprehensive manner. Our unwavering commitment to propelling India's growth has been solidified through the synergies of Sanghi Industries Limited (SIL) with Ambuja Cements and ACC, marking a significant leap towards our objectives.

The accelerated pace of growth of India's economy, driven by increasing construction activities across the country bodes well for SIL's production capabilities. Strong infrastructure demand and ongoing needs from the housing and commercial sectors are anticipated to boost cement demand. The Government's commitment towards higher capital spending in the Budget 2025-26 is a positive for the infrastructure sector. Further, increased allocation towards Pradhan Mantri Awas Yojana, Pradhan Mantri Gram Sadak Yojana augur well for the cement sector. Strategic investments in roads, railways, and urban and commercial amenities, are poised to drive robust growth.

At the core of this momentum is a milestone that signifies more than just numbers — Adani's Cement Business crossing 100 MTPA capacity in just 30 months, making it the fastest growing cement business in India and ninth-largest globally.

Our dedication to India's growth trajectory remains steadfast, continually supporting efforts to achieve the nation's vision of sustained growth. In alignment with the government's infrastructure development initiatives, SIL now plays a pivotal role in our cement business strategy. By exclusively supplying to Ambuja Cements and ACC, SIL effectively mitigates the demand fluctuations it previously faced.

The Master Supply Agreement (MSA) between SIL and Ambuja Cements, has been a key driver of growth for SIL. This strategic step has also elevated SIL's capacity utilisation, aligning with the Group's demand.

As a vital part of Ambuja Cements, a leader in the cement industry, growing responsibly is fundamental to our transformation journey. With Waste Heat Recovery Systems (WHRS) in place coupled with our transformational efficiency measures, we are further strengthening our vision for a sustainable, carbon-neutral future. We are also increasing our WHRS capacity to drive down operational costs even further.

Beyond our core business, we have made a significant positive impact on society. We have enhanced the lives of 3.48 million people through initiatives in healthcare, education and community development. By fostering sustainable livelihoods and creating employment opportunities, we contribute to the well-being of the communities where we operate.

As we are on a continuous transformative journey, I am filled with optimism about the future, confident that it is a path we can all be proud of. We sincerely hope for your continued support in crafting a better future and embracing new horizons for Sanghi Industries Limited.

Regards, Ajay Kapur Chairman