On consolidated basis
Quarter ended December 2023 compared
with Quarter ended December 2022.
Net sales (including other operating income) of Ambuja Cements has increased
2.81% to Rs 8128.8 crore.
Operating profit margin has jumped
from 12.92% to 21.31%, leading to 69.58% rise in operating profit to Rs
1,732.10 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 12.01% to 12.78%. Purchase of
finished goods cost rose from 1.26% to 2.24%. Employee cost
decreased from 4.81% to 3.92%. Other expenses fell from 68.52% to
59.85%. Power and Oil fuel cost fell from 30.69% to 23.46%.
Freight charges fell from 24.10% to 22.89%.
Other income rose 66.11% to Rs
193.65 crore. PBIDT rose 69.22% to Rs 1925.75
crore. Provision for interest rose 62.96% to Rs 70.14
crore.
PBDT rose 69.47% to Rs 1855.61
crore. Provision for depreciation rose 23.80% to Rs 417.7
crore.
Profit before tax grew 89.81% to Rs
1,437.91 crore. Share of profit/loss was 62.06% higher at Rs 10.21
crore. Provision for tax was expense of Rs 358.57 crore, compared to
Rs 135.54 crore. Effective tax rate was 24.76% compared to 21.74%.
Minority interest increased 398.41%
to Rs 266.50 crore. Net profit attributable to owners of the company
increased 89.46% to Rs 823.05 crore.
Promoters’ stake was 63.15% as of 31
December 2023 ,compared to 63.15% as of 31 December 2022 .
Operational Highlights:
Q3FY2024
Clinker & Cement sales volume
growth of 3% YoY at 14.1 Million Ton.
Kiln Fuel cost reduced by 25%, (Rs
2.45/’000 kCal to Rs 1.84/’000 kCal).
WHRS power mix has gone up by 6.5 pp
to 12.7%.
Others
Committed investment of ~ Rs. 10,000
crores in 1 GW solar and wind power projects, Additional 243 MW WHRS projects
(built-in for new Integrated plants), will increase green power share to 60%
towards the 140 MTPA planned capacity.
In December 2023, Ambuja Cements
successfully completed the acquisition of Sanghi Industries having 6.1 MTPA
capacity. This month, Ambuja’s subsidiary ACC completed the acquisition of the
balance 55% stake in Asian Concretes and Cements Private Ltd (ACCPL) having 2.8
MTPA capacity.
There is an ongoing Cement capacity
expansion of 20 MTPA at various stages. Board has also approved additional
Cement capacity expansion of 12 MTPA, which outlines a road map for 110 MTPA
(80% of 140 MTPA capacity targeted by FY 2028)
Management
Commentary
Mr. Ajay Kapur, Whole Time Director & CEO,
Ambuja Cements said, “"Our performance is a reflection of our resilience
and focused efforts. Our pursuit of excellence continues to propel us towards
setting new benchmarks in our steady growth. We remain
steadfast in our mission to deliver value for all
stakeholders by redefining the industry landscape.”
| Ambuja Cements : Consolidated Results | | | Quarter ended |
|---|
| Particulars | 202312 | 202212 | Var.(%) |
|---|
| Net Sales (including other operating income) | 8,128.80 | 7,906.74 | 2.81 | | OPM (%) | 21.31 | 12.92 | 839 bps | | OP | 1,732.10 | 1,021.42 | 69.58 | | Other Inc. | 193.65 | 116.58 | 66.11 | | PBIDT | 1,925.75 | 1,138.00 | 69.22 | | Interest | 70.14 | 43.04 | 62.96 | | PBDT | 1,855.61 | 1,094.96 | 69.47 | | Depreciation | 417.7 | 337.39 | 23.80 | | PBT | 1,437.91 | 757.57 | 89.81 | | Share of Profit/(Loss) from Associates | 10.21 | 6.3 | 62.06 | | PBT before EO | 1448.12 | 763.87 | 89.58 | | EO Income | 0 | -140.45 | - | | PBT after EO | 1448.12 | 623.42 | 132.29 | | Taxation | 358.57 | 135.54 | 164.55 | | PAT | 1089.55 | 487.88 | 123.32 | | Minority Interest (MI) | 266.5 | 53.47 | 398.41 | | Net profit | 823.05 | 434.41 | 89.46 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | | Net profit after discontinued operations | 823.05 | 434.41 | 89.46 | | EPS (Rs)* | 4.15 | 2.68 | 54.76 | | | * EPS is on current equity of Rs 397.13 crore, Face value of Rs 2, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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