- Q4 Operating EBITDA up by 79% at Rs. 837 Crores
- Healthy Cash & Cash equivalent at Rs. 4,667 Crores
- Volume up by 23.5%, revenues up 13% YoY
- EBITDA (PMT) at Rs. 802 PMT, up 45% YoY
- EBITDA margin at 15.5% up by 5.7 pp YoY
- PAT at Rs 945 crores jumped 3x, YoY
- EPS for the year improved to Rs 124.1, last year Rs 26.0
- Dividend on equity shares at Rs. 7.50 per share
NE BUSINESS BUREAU
AHMEDABAD, APRIL 29
ACC Limited (ACC), the most trusted legacy brand and one of India’s largest Cement and Building materials company of the diversified Adani Group and a subsidiary of Ambuja Cements, on Thursday announced lifetime high annualised profit after tax (PAT) at Rs 2,337 crore in FY24, up a staggering 378 per cent (year-on-year). It registered operating EBITDA at Rs 837 crore for the fourth quarter (Q4) ended March 31, up 79 per cent.
The company attributed the improved performance for the fourth quarter and full year to an all-around improvement in volume, cost and efficiency parameters.
“We continue to solidify our position as a frontrunner in the cement industry. Our financial performance with a jump in EBITDA by 138 per cent during the year is a testament to the flexibility and strong foundation of our business model,” said Ajay Kapur, Whole Time Director and CEO, ACC Limited.
For the fourth quarter of FY24, the company registered PAT at Rs 945 crore, marking a three-time surge YoY.
In the context of the ongoing capex and growth plans of the company, the Board recommended a dividend on equity shares at Rs 7.50 per share, consistent with last year’s dividend on a 12-month basis.
According to the company, its kiln fuel cost improved with a change of fuel basket and higher consumption of alternative fuel.
“The work on waste heat recovery system (WHRS) facilities at Chanda (18 MW) and Wadi (21.5 MW) is on track and will be commissioned in Q2 this year, which will help take the total capacity to 86 MW or 25 per cent of total power,” the company informed.
Moreover, the ongoing green power initiatives of the company will help achieve 60 per cent green power by 2028, reduce cost, improve EBITDA, and accelerate its ‘SDP Plan 2030’.
ACC Limited has 20 cement manufacturing sites, over 86 concrete plants, and a nationwide network of channel partners to serve its customers.
Operational Highlights
| Particulars (YoY) | Q4 FY’24 | FY’24 |
| Sales Volume
(Clinker & Cement) |
Growth of
23.5% at 10.4 MioT |
Growth of
20.3% at 36.9 MioT |
| Kiln Fuel
Cost |
Down by 19%
(Rs 2.35 to Rs 1.91 per ’000 kCal) |
Down by 30%
(Rs 2.76 to Rs 1.94 per ’000 kCal) |
| WHRS as a % of total power Consumption | Up by
1.0 pp to 8.2% |
Up by
4.1 pp to 8.6% |
Consolidated Financial Performance for Q4 and FY 2023-24
| Particulars | UoM | Q4
FY’24 |
Q4
FY’23 |
FY’24 | FY’23
(12 M) |
| Sales Volume
(Cement & Clinker) |
Million
Tonnes |
10.4 | 8.5 | 36.9 | 30.7 |
| Sales Volume Ready Mix Concrete |
Million Cubic Meters | 0.66 | 0.71 | 2.68 | 3.08 |
| Revenue from Operations | Rs. Cr. | 5,409 | 4,791 | 19,959 | 17,784 |
| Operating EBITDA & Margin
(Excluding Other Income)
|
Rs. Cr | 837 | 469 | 3,062 | 1,290 |
| Rs. PMT | 802 | 554 | 830 | 421 | |
| % | 15.5% | 9.8% | 15.3% | 7.3% | |
| Other Income | Rs. Cr | 120 | 119 | 493 | 283 |
| EBIT | Rs. Cr | 721 | 411 | 2,671 | 886 |
| EBIT Margin | % | 13.3% | 8.6% | 13.4% | 5.0% |
| Profit after Tax | Rs. Cr | 945 | 236 | 2,337 | 489 |
| EPS (Diluted) | Rs. / Share | 50.2 | 12.5 | 124.1 | 26.0 |