Hot Pursuit     25-Apr-24
ACC records four-fold jump in Q4 PAT to Rs 945 cr
ACC reported that its consolidated net profit zoomed more than four times to Rs 944.84 crore in Q4 FY24 as compared with Rs 235.63 crore posted in Q4 FY23.
Revenue from operations grew by 12.9% year on year (YoY) to Rs 5,408.72 crore in the quarter ended 31 March 2024.

Clinker & cement sales volume increased by 23.5% YoY at 10.4 million tonne during the March 2024 quarter. Ready mix concrete registered a decline of 7.04% YoY in volume to 0.66 million cubic meters, during the period under review.

Profit before tax in fourth quarter of FY24 soared 167.10% to Rs 885.04 crore from Rs 331.35 crore recorded in corresponding quarter previous year.

In Q4 FY24, operating EBITDA increased 78.46% to Rs 837 crore from Rs 469 crore posted in same quarter last year while EBITDA margin improved to 15.5% from 9.8% posted in Q4 FY23.

On outlook front, the cement maker said that cement industry remains positive based on higher budgetary allocation to infrastructure and construction and government’s push for affordable housing along with green energy transition, demand-supply dynamics, and greater consolidation. Adani Cement will have the advantage of accelerated growth, lower cost, group synergies which in turn will help to sustainable performance & market leadership.

On a full year basis, the company’s net profit soared by 163.98% to Rs 2,336.37 crore in FY24 over FY23. However, revenue from operation declined 10.14% YoY to Rs 19,958.92 crore in the financial year ended 31 March 2024.

Ajay Kapur, whole time director & CEO, said, “We continue to solidify our position as a frontrunner in the cement industry. Our financial performance with jump in EBITDA by 138% during the year is a testament to the flexibility and strong foundation of our business model. The trust of our customers and our commitment to building a sustainable future with investment in efficiency improvements, green power etc. has furthered our success, as we emerge even stronger than before. With passing time ACC is getting younger and stronger with the expansion and performance efficiency plans.”

Cash & cash equivalent stood at Rs 4,667 crore and consolidated net worth improved by Rs 2,191 crore to reach Rs 16,333 crore as on 31 March 2024.

Meanwhile, the board has recommended a dividend of Rs 7.50 per equity share for the financial year 2023-24, subject to approval of shareholders. The company has fixed 14 June 2024 as ‘record date’ for the said dividend and it shall be paid on or after 1 July 2024.

ACC is a part of Adani Cement and one of India's leading producers of cement and ready-mix concrete. ACC has 16 cement manufacturing sites, over 85 concrete plants and a nationwide network of channel partners to serve its customers.

The scrip settled 0.85% higher at Rs 2,579.70 on the BSE.

Previous News
  ACC schedules AGM
 ( Corporate News - 25-Apr-24   16:59 )
  ACC records four-fold jump in Q4 PAT to Rs 945 cr
 ( Hot Pursuit - 25-Apr-24   16:32 )
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 ( Results - Announcements 25-Apr-24   15:45 )
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