ACC Limited (ACC), the building materials arm of the diversified Adani Group announced the financial results for the quarter ended September 30, 2022. During the quarter ended September 30, 2022, Cement Volume grew by 4% as compared to the same quarter last year. Ready Mix Concrete performed well with volume growth of ~10% over the same quarter last year. With a focus on operational excellence & unlocking potential, ACC has accelerated the de-bottlenecking of various plants & improvement in efficiencies. Alternative Fuels & Raw materials (AFR) platforms are being leveraged to maximize usage of wastes to reduce power and fuel cost.
ACC recorded net sales of ? 3,910 Crore as compared to ? 3,653 Crore in the same quarter last year. EBITDA for the quarter ended September 30, 2022, stood at ? 16 Crore largely due to steep rise in fuel cost.
“The post-monsoon quarter will see the traditional rebound for the cement sector, including for ACC. We have had significant cost pressures in the recent past due to steep fuel price rise. However, recent cooling off in energy costs will impact us positively in the coming quarters. said B. Sridhar, Whole Time Director & CEO ACC Limited. “During the quarter, ACC recorded strong growth in RMX volume of 10% and RMX business remains a huge growth engine for future. We have aggressive growth plans and our capacity expansion initiative through our new green field projects at Ametha is progressing well and is expected to be commissioned by March 2023.”
