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Radhakishan Damani bets big on cement sector, hopes demand to be on track again

As of April 28, 2022, Radhakishan Damani individually holds 3,51,32,665 equity shares in India Cements. The cumulative holding of the family stands at 6,44,98,180 shares. This stake is worth Rs 1,335 crore.

April 28, 2022 / 02:23 PM IST
Radhakishan Damani (File Image)

Radhakishan Damani (File Image)

 
 
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Centre and states have been pushing for infrastructure spending and affordable housing. On the back of the positive outlook, cement companies have been pushing for volumes to meet demand targets. At the same time, headwinds like - elevated input costs, high fuel prices, and constraints in the availability of coal - are staring at the industry.

While the negative factors are expected to put pressure on output and earnings margins of cement companies in the coming months, Radhakishan Damani, promoter of Avenue Supermarts, which owns and operates the DMart chain of retail stores, hopes the cement demand to pick up and be on track again.

On this hope, Radhakishan Damani and his family have been increasing their stake periodically in India Cements for the past more than one year.

And, on April 28, there is also a report citing sources in Business Standard that RK Damani is planning to team up with other potential bidders to invest up to Rs 10,000 crore as a financial partner in Ambuja Cements.

As the ace investor looks, as per the publication report, to form a partnership with any group interested in bidding for India's second-largest cement company, it should be noted that the family owns nearly 23% stake in India Cements.

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Here is a look at how the retail tycoon has been marginally increasing his stake in the cement giant.

A significant rise in Damani & family members' stake in India Cements

- He held 19.89 percent shares in the company in the March quarter of 2020, followed by a marginal increase to 20.4 percent in July 2020.

- In January 2021, Damani and family had increased his stake to 21.14 percent

- As of June 30, 2021, Radhakishan Damani individually held 11.34 per cent stake in India Cements.

- As on September 30, 2021, RK Damani and family collectively held 21.14 per cent stake in India Cements.

- As of December 31, 2021, Damani & family increased their stake in India Cements to 22.76 percent, up from 21.14 percent at the end of September 2021 quarter. Until December 31, 2021, the family had 6,54,98,190 shares.

- As of March 2022, Radhakishan Damani's stake was at 3,51,32,665 equity shares or 11.34 per cent. And, during the period under review, Damani and family separately owned another 41,49,029 equity shares or a 1.34 per cent stake in the company. Their cumulative holding stood at 7,93,31,008 shares or 25.6 per cent stake in the recently concluded quarter. This stake was worth Rs 1,741.71 crore.

- As of April 28, 2022, Radhakishan Damani individually holds 3,51,32,665 equity shares in India Cements. The cumulative holding of the family stands at 6,44,98,180 shares. This stake is worth Rs 1,335 crore.

Last year, there were also reports of Damani planning to acquire a controlling stake in India Cements. However, India Cements managing director N Srinivasan had dismissed the reports.



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