Ambuja Cements Limited (Ambuja), the building materials arm of the diversified Adani Group, announced the financial results for the quarter that ended September 30, 2022. Robust volume growth of 12% as compared to the same quarter last year. Reduction in logistic costs driven by unleashing network synergy and various other cost efficiency measures.
Net sales of ? 3,631 Crore, an increase of 14% as compared to ? 3,193 Crore in the same quarter last year. EBITDA for the quarter that ended September 2022 stood at ? 304 Crore.
“Cement industry has been facing significant margin pressure resulting from steep rise in global energy prices. However, the recent cooling off in energy prices and post-monsoon demand pick-up appears like a silver lining for coming quarters. Ambuja has embarked upon a transformational journey to gain both scale and market leadership, with focused efforts on ramping up capacity, and margin expansion. By taking advantage of the scope and resources of the Adani Group, we aim to expand more quickly and with greater impact to gain leadership position in the Cement industry.With the equity infusion by the promoter group in the company, the expansion program will gather pace in the coming time. Considering the promise, we made to double our manufacturing capacity over the next five years, our growth plans are ambitious, and this will be evident in 2023. While cost pressures have not gone away, our growth plans remain strong,” said Ajay Kapur, CEO of Ambuja Cements.