Ambuja Cement Announces 18% Growth in Revenues
Ambuja Cement has released its H1 and Q2 Financial Results for 2022. Sales volume has grown by 15% when compared to the same period last year, whereas the company has seen a top-line growth of 18% over the same time-frame. The company’s total revenue for H1 is reported at INR78.13 billion (US$977.4 million), up INR8.92 billion (US$11.59 million) from last year’s H1 revenues. Holcim India CEO, Neeraj Akhoury, also noted that “Ambuja Kawach, our green cement, demonstrated a growth of 22% YoY”. This year has also seen increased operating costs for the companies across the board due to increased fuel prices and inflationary pressures, with Ambuja cement’s total operating costs increasing by 27% to INR64.44 billion (US$806 million). Akhoury commented on this trend, that, “The April to June 2022 quarter was impacted by rising fuel prices and related inflationary impacts. This was partly mitigated by improved efficiencies delivered under our ‘I CAN’ program which continues to deliver strong results. In addition, the Master Supply Agreement with ACC also led to strong performance on logistics costs. Our expansion projects of 8.5 million t of cement capacity at Ropar and Bhatapara are on track. The ongoing Waste Heat Recovery projects of 53 MW are to be commissioned in the third quarter of 2022, which will support our efficiency initiatives and lead to the delivery of our sustainability goals.”
Tags : Ambuja Cement Growth Revenues Financial Results Holcim India CEO Neeraj Akhoury Waste Heat Recovery projects