Adani Group, India’s second-largest cement producer, has no plans to merge its two cement brands, ACC and Ambuja, according to Ajay Kapur, CEO of both companies.

What Happened? Adani Group, which acquired Ambuja Cements and ACC from Switzerland’s Holcim for $10.5 billion (₹86,039 crore) in 2022, will continue selling cement products under these established brands.

Despite reports earlier this year suggesting a possible merger between ACC and Ambuja, Kapur confirmed that the brands will remain distinct. The companies’ shares are trading lower than their January levels due to a report from a U.S. short-seller, which negatively impacted the Adani Group companies’ shares.

See also: Graphic: How India’s Homegrown UPI Is Going Global

The Broader Plan: Looking ahead, Kapur expressed plans to increase the cement business’s EBITDA margins by ₹400-450 per ton over the next two years.

This improvement will be achieved by reducing production costs and streamlining manufacturing and logistics processes. He further announced ACC’s plans to add 16 million tonnes of new capacity in the next two to five years, anticipating a 7-8% growth in India’s cement demand.

Additionally, a new plant in Ametha, Madhya Pradesh, will soon commence operations. This expansion aligns with the Adani Group’s strategy to double its overall cement production capacity over five years.

Read next: How To Read Open Interest: Become A Trading Pro In 5 Minutes