ACC’s Another Robust Quarter With YoY 77% Growth In EBITDA
ACC Limited, the cement and building material company of the diversified Adani Group, today announced the financial results for the quarter ended June 30, 2023. The stronger financial performance in this quarter was driven by volume growth and business excellence. Volume increased by 23.2% YoY at 9.4 MioT supported by increase in blended cement and improvement in efficiency parameters. Market leadership maintained across key markets. Kiln fuel cost reduced by 15.5% from Rs. 2.52 per ‘000 kCal to Rs. 2.13 per ‘000 kCal WHRS at Jamul & Kymore plants (22.4 Mw) have become fully operational. WHRS share has improved from 2.0% to 8.4%. Further 16.3 Mw is expected to commission this year tacking total capacity to 46.3 Mw. Energy efficiency, manpower productivity and other operational efficiency improvement measures have helped to optimise cost. YoY basis, Net Revenue experienced a 16.4% increase, reaching Rs. 5,201 Cr, while EBITDA surged by 77% to Rs. 848 Cr. EBITDA margin expanded by 5.6% from 10.7% to 16.3%. EBITDA is expected to sustain with further improvement due to various efficiency & operational excellence initiatives. RMX & Construction Chemicals sectors are on robust growth trajectory and likely to grow faster driven by investments in construction segments & rapid urbanisation. Ametha Integrated Unit to be commissioned by Q2 FY24 which will increase Clinker capacity by 3.3 MTPA (EC approvals in hand for 2.75 MTPA) and Grinding capacity by 1 MTPA. Ajay Kapur, Whole Time Director & CEO, ACC Limited?said, “We are delighted to report a strong performance in the first quarter of FY 2023-24, with a 16.4% increase in revenue and 105% increase in PAT compared to the previous year same quarter. The growth was driven by robust demand for high-quality cement products across all markets, as well as our continuous efforts to optimize operations and reduce environmental impact.” “As?we are committed to delivering the best for every stakeholder, we are proud to be?ranked No.2 in ‘India’s Most Trusted Cement Brands 2023’ by TRA.?We thank our customers, partners, employees and shareholders for their trust and support, and we look forward to building on this momentum in the rest of the year,” he added.
Tags : ACC Limited cement and building material company diversified Adani Group financial performance growth business excellence RMX & Construction Chemicals Ajay Kapur Whole Time Director & CEO ACC Limited