ACC Limited, the cement and building material company of the diversified Adani Group, announced the financial results for the quarter ended September 30, 2023, continuing its improved financial performance driven by volume growth and efficient business operations.
Clinker production started at the Ametha unit. Clinker & Cement sales Volume up by 17.3 % YoY @ 8.1 MioT. The operational excellence journey continues to deliver improved productivity & performance which have helped reduce operating costs and improve the bottom line. Kiln fuel cost was reduced by 42 %, driven by fuel mix optimization & higher Alternate fuel consumptions.
The Waste Heat Recovery System at Kymore & Jamul (22.4 MW) became fully operational. In addition, 16.3 MW at Ametha is expected to be commissioned by Q3 FY’24. The share of WHRS in total power consumption will increase to 9% by the end of FY 2024 as against 2.9% last Quarter.
Ajay Kapur, Whole Time Director & CEO, ACC Limited said, “In continuation of our strong performance from the first quarter, we are pleased to announce a spectacular second quarter of FY 2023-24, witnessing an 11.2% YoY surge in revenue, Rs 673 Cr jump in EBITDA and improvement in PAT to Rs. 388 Cr. This commendable growth is attributed to the improved demand for our premium cement products up by 1.5 pp YoY @ 32% of trade sales, Net dealer addition of 534 during the quarter across all markets, coupled with our commitment to enhancing operational efficiency and prioritizing environmental sustainability.
Operational efficiencies, Electrical energy consumption improved by 6.4 kWh/t @ 73.9 kWh/t with Clinker factor improvement from 57.2% to 56.6% coupled with the reduction in Kiln fuel cost from Rs.3.19 to Rs.1.85 /000 kcal. Our commitment to enhancing logistics efficiencies has resulted in a Road Direct Despatch increase from 52% to 58% and an increase in Rail coefficient by 5pp to 34% .
One of the highlights of this quarter was the commencement of the Ametha Integrated plant in Madhya Pradesh thereby boosting our clinker capacity with an additional 3.3 MPTA, while our journey of green power through WHRS and Renewable Power continues and will boost our profitability apart from helping to achieve ESG targets.
We are committed to reducing our carbon footprint and it remains at the forefront of our mission. In H1 FY’24, we have reduced Specific CO2 emissions by 13 kg/T of cementitious material to 466 kg/T of cementitious material YoY. Our strategies include optimizing our industry-leading green blended cement portfolio @ 93% of total sales, minimizing thermal and electrical energy intensity, introducing Waste Heat Recovery Systems across facilities, and a significant focus on boosting our renewable energy capacity and usage.
I firmly believe that our competitive advantage will create a path for sustained profitability within the industry. As we chart our course towards upcoming growth milestones, our strategic preparedness reaffirms our readiness to achieve promising results in the coming quarters”.
