Team News Riveting
New Delhi, October 26
ACC Limited, the cement and building material company of the diversified Adani Group, today reported that profit after tax (PAT) in the first half of the fiscal on year-on-year (YoY) basis jumped significantly from Rs 140 crore to Rs 854 crore, registering a growth of whopping 510 per cent.
The company today announced the financial results for the quarter and first half (H1) ended September 30, 2023, continuing its improved financial performance driven by volume growth and efficient business operations. While company’s revenue grew by 14 per cent at Rs 9,636 crore, the EBITDA was up by Rs 1,041 crore to Rs 1,607 crore.
In the second quarter Q2 YoY, revenue grew by 11.2 per cent at Rs 4,435 crore while EBITDA stood at Rs 759 crore (up by Rs 673 crore), driven by cost savings and operational efficiency.
Ajay Kapur, Whole Time Director and 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 a 11.2 per cent YoY surge in revenue, Rs 673 crore 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 534 during quarter across all markets, coupled with our commitment to enhancing operational efficiency and prioritizing
environmental sustainability. “
“In operational efficiencies, Electrical energy consumption improved by 6.4 kWh/t @73.9 kWh/t with Clinker factor improvement from 57.2 per cent to 56.6% per cent coupled with reduction in Kiln fuel cost from Rs. 3.19 to Rs. 1.85 /000 kcal “Our commitment to enhance logistics efficiencies has resulted in Road Direct Despatch increase from 52 per cent to 58 per cent and increase in Rail coefficient by 5pp to 34 per cent,” Kapur added.
One of the highlights of the quarter was commencement of Ametha Integrated plant in Madhya Pradesh thereby boosting our clinker capacity with 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 reduce our carbon footprint and it remains at 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 optimising our industry leading green blended cement portfolio @ 93 per cent of total sales, minimizing thermal and electrical energy intensity, introduction of Waste Heat Recovery Systems across facilities, and a significant focus on boosting our renewable energy capacity and usage,” Kapur said.
