On consolidated basis
Quarter ended December 2024 compared
with Quarter ended December 2023.
Net sales (including other operating income) of Ambuja Cements has increased
14.76% to Rs 9328.56 crore. Sales of Cement segment has gone up
14.62% to Rs 9,009.36 crore (accounting for 96.26% of total
sales). Sales of Ready Mix Concrete segment has gone up 16.82% to Rs
350.49 crore (accounting for 3.74% of total sales). Inter-segment
sales came down from Rs 31.70 crore to Rs 31.29 crore.
Profit before interest, tax and
other unallocable items (PBIT) has slumped 24.70% to Rs 1,064.33
crore. PBIT of Cement segment fell 25.67% to Rs 1,053.94 crore
(accounting for 99.02% of total PBIT). PBIT of Ready Mix Concrete
reported profit of Rs 10.39 crore compared to loss of Rs 4.51
crore.
PBIT margin of Cement segment fell
from 18.04% to 11.70%. PBIT margin of Ready Mix Concrete segment
rose from negative 1.50% to 2.96%. Overall PBIT margin fell from
17.32% to 11.37%.
Operating profit margin has declined
from 21.31% to 18.35%, leading to 1.17% decline in operating profit to Rs
1,711.85 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 15.38% to 15.55%. Purchase of
finished goods cost rose from 2.24% to 2.49%. Employee cost
increased from 3.92% to 4.15%. Other expenses rose from 57.25% to
59.20%. Power and Oil fuel cost fell from 23.46% to 22.62%.
Freight charges fell from 22.89% to 22.21%.
Other income rose 598.29% to Rs
1352.24 crore. PBIDT rose 59.11% to Rs 3064.09
crore. Provision for interest fell 4.49% to Rs 66.99
crore.
PBDT rose 61.52% to Rs 2997.1
crore. Provision for depreciation rose 59.56% to Rs 663.98
crore.
Profit before tax grew 62.08% to Rs
2,333.12 crore. Share of profit/loss was 71.11% lower at Rs 2.95
crore. Provision for tax was credit of Rs 284.02 crore, compared to
debit of Rs 358.97 crore. Effective tax rate was negative 12.16% compared
to 24.76%.
Minority interest increased 89.42%
to Rs 504.76 crore. Net profit attributable to owners of the company
increased 156.64% to Rs 2,115.33 crore.
Promoters’ stake was 67.53% as of 31
December 2024 ,compared to 63.15% as of 31 December 2023 .
Year-to-date (YTD) results analysis.
Net sales (including other operating income) of Ambuja Cements has increased
3.67% to Rs 25156.15 crore. Sales of Cement segment has gone up
3.75% to Rs 24,267.13 crore (accounting for 96.14% of total
sales). Sales of Ready Mix Concrete segment has gone up 0.31% to Rs
974.56 crore (accounting for 3.86% of total sales). Inter-segment
sales came down from Rs 96.39 crore to Rs 85.54 crore.
Profit before interest, tax and
other unallocable items (PBIT) has slumped 31.65% to Rs 2,494.13 crore. PBIT
of Cement segment fell 32.62% to Rs 2,457.44 crore (accounting for 98.53% of
total PBIT). PBIT of Ready Mix Concrete segment rose 1,655.50% to Rs
36.69 crore (accounting for 1.47% of total PBIT).
PBIT margin of Cement segment fell
from 15.59% to 10.13%. PBIT margin of Ready Mix Concrete segment
rose from 0.22% to 3.76%. Overall PBIT margin fell from 14.98% to
9.88%.
Operating profit margin has declined
from 19.37% to 16.31%, leading to 12.72% decline in operating profit to Rs
4,103.10 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 14.80% to 16.42%. Purchase of
finished goods cost rose from 1.28% to 2.58%. Employee cost
decreased from 4.25% to 4.17%. Other expenses rose from 60.42% to
60.52%. Power and Oil fuel cost fell from 24.94% to 23.72%.
Freight charges fell from 24.08% to 23.72%.
Other income rose 123.06% to Rs
2080.99 crore. PBIDT rose 9.77% to Rs 6184.09
crore. Provision for interest rose 9.91% to Rs 201.65
crore.
PBDT rose 9.76% to Rs 5982.44
crore. Provision for depreciation rose 44.77% to Rs 1691.99
crore.
Profit before tax grew 0.21% to Rs
4,290.45 crore. Share of profit/loss was 56.03% lower at Rs 8.56
crore. Provision for tax was expense of Rs 266.64 crore, compared to
Rs 1087.64 crore. Effective tax rate was 6.44% compared to 25.29%.
Minority interest decreased 3.71% to
Rs 665.02 crore. Net profit attributable to owners of the company
increased 27.28% to Rs 3,211.15 crore.
Promoters’ stake was 67.53% as of 31
December 2024 ,compared to 63.15% as of 31 December 2023 .
Full year results analysis.
Net sales (including other operating income) of Ambuja Cements has declined
14.84% to Rs 33159.64 crore.
Operating profit margin has jumped
from 13.16% to 19.30%, leading to 24.93% rise in operating profit to Rs
6,399.51 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 12.16% to 14.79%. Purchase of
finished goods cost rose from 1.23% to 1.74%. Employee cost
decreased from 4.75% to 4.08%. Other expenses fell from 68.74% to
60.07%. Power and Oil fuel cost fell from 30.11% to 24.47%.
Freight charges fell from 24.38% to 24.15%.
Other income rose 58.11% to Rs
1166.4 crore. PBIDT rose 29.11% to Rs 7565.91
crore. Provision for interest rose 41.81% to Rs 276.38
crore. Loan funds rose to Rs 699.01 crore as of 31 March 2024 from
Rs 522.73 crore as of 31 March 2023. Inventories rose to Rs 3,608.55
crore as of 31 March 2024 from Rs 3,272.79 crore as of 31 March
2023. Sundry debtors were higher at Rs 1,213.14 crore as of 31 March
2024 compared to Rs 1,154.36 crore as of 31 March 2023. Cash and
bank balance rose to Rs 11,068.87 crore as of 31 March 2024 from Rs 2,961.04
crore as of 31 March 2023. Investments rose to Rs 848.55 crore as of
31 March 2024 from Rs 213.65 crore as of 31 March 2023 .
PBDT rose 28.67% to Rs 7289.53
crore. Provision for depreciation fell 1.02% to Rs 1627.9
crore. Fixed assets increased to Rs 26,050.04 crore as of 31 March
2024 from Rs 18,207.67 crore as of 31 March 2023. Intangible assets
increased from Rs 7,869.69 crore to Rs 8,802.75 crore.
Profit before tax grew 40.82% to Rs
5,661.63 crore. Share of profit/loss was 18.27% lower at Rs 22.9
crore. Provision for tax was expense of Rs 1161.47 crore, compared
to Rs 705.11 crore. Effective tax rate was 19.70% compared to
18.91%.
Minority interest increased 163.33%
to Rs 1,161.23 crore. Net profit attributable to owners of the
company increased 38.32% to Rs 3,573.40 crore.
Equity capital increased from Rs
397.13 crore as of 31 March 2023 to Rs 439.54 crore as of 31 March
2024. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 66.70% as of 31
March 2024 ,compared to 63.15% as of 31 March 2023 .
Operational Highlights:
Q3FY2025
Volume growth of 17% YoY, at 16.5 Mn
T, Highest ever cement sales Volume in a quarter.
Kiln Fuel cost reduced by 10%, (Rs 1.84/’000
kCal to Rs 1.66/’000 kCal).
Green Power as a % of power
Consumption increased by 5.7 pp to 21.5%.
9MFY2025
Volume growth of 9% YoY at 46.6
million ton.
Kiln Fuel cost reduced by 13%, (Rs 1.92/’000
kCal to Rs 1.66/’000 kCal).
Green Power as a % of power
Consumption increased by 3.7 pp to 19.4%.
Others
Commissioned 200 MW Solar Power at
Khavda, will lead to reduction in power cost in upcoming quarters.
Addition of 631 Mn MT Limestone
reserves during Dec 2024 quarter, taking total reserves to 8.3 Bn MT.
Orient Cement acquisition expected
to be closed in Q4 FY’25. Merger of Penna and Sanghi under progress.
Management
Commentary
Mr. Ajay Kapur, Whole Time Director & CEO,
Ambuja Cements said, “We are pleased to report a quarter of sustainable
performance, aligned with our growth plan. With focus on innovation,
digitisation, customer satisfaction, and ESG, our vision drives our expansion
into new geographies. Our strategic acquisitions have significantly increased
our capacity and market presence. This will be dove-tailed with our ongoing
expansion projects, delivering exceptional value for our stakeholders and
propelling us towards achieving over 104 MTPA capacity by Q4 FY’25 and 118 MTPA
by FY 26.”
| Ambuja Cements : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202412 | 202312 | Var.(%) | 202412 | 202312 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 9,328.56 | 8,128.80 | 14.76 | 25,156.15 | 24,265.65 | 3.67 | 33,159.64 | 38,937.03 | -14.84 | | OPM (%) | 18.35 | 21.31 | -296 bps | 16.31 | 19.37 | -306 bps | 19.30 | 13.16 | 614 bps | | OP | 1,711.85 | 1,732.10 | -1.17 | 4,103.10 | 4,700.87 | -12.72 | 6,399.51 | 5,122.37 | 24.93 | | Other Inc. | 1,352.24 | 193.65 | 598.29 | 2,080.99 | 932.94 | 123.06 | 1,166.40 | 737.71 | 58.11 | | PBIDT | 3,064.09 | 1,925.75 | 59.11 | 6,184.09 | 5,633.81 | 9.77 | 7,565.91 | 5,860.08 | 29.11 | | Interest | 66.99 | 70.14 | -4.49 | 201.65 | 183.47 | 9.91 | 276.38 | 194.90 | 41.81 | | PBDT | 2,997.10 | 1,855.61 | 61.52 | 5,982.44 | 5,450.34 | 9.76 | 7,289.53 | 5,665.18 | 28.67 | | Depreciation | 663.98 | 416.12 | 59.56 | 1691.99 | 1168.74 | 44.77 | 1627.9 | 1644.67 | -1.02 | | PBT | 2,333.12 | 1,439.49 | 62.08 | 4290.45 | 4281.6 | 0.21 | 5661.63 | 4020.51 | 40.82 | | Share of Profit/(Loss) from Associates | 2.95 | 10.21 | -71.11 | 8.56 | 19.47 | -56.03 | 22.9 | 28.02 | -18.27 | | PBT before EO | 2336.07 | 1449.7 | 61.14 | 4299.01 | 4301.07 | -0.05 | 5684.53 | 4048.53 | 40.41 | | EO Income | 0 | 0 | - | -156.2 | 0 | - | 211.57 | -319.04 | LP | | PBT after EO | 2336.07 | 1449.7 | 61.14 | 4142.81 | 4301.07 | -3.68 | 5896.1 | 3729.49 | 58.09 | | Taxation | -284.02 | 358.97 | LP | 266.64 | 1087.64 | -75.48 | 1161.47 | 705.11 | 64.72 | | PAT | 2620.09 | 1090.73 | 140.21 | 3876.17 | 3213.43 | 20.62 | 4734.63 | 3024.38 | 56.55 | | Minority Interest (MI) | 504.76 | 266.48 | 89.42 | 665.02 | 690.61 | -3.71 | 1161.23 | 440.98 | 163.33 | | Net profit | 2115.33 | 824.25 | 156.64 | 3211.15 | 2522.82 | 27.28 | 3573.4 | 2583.4 | 38.32 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 2115.33 | 824.25 | 156.64 | 3211.15 | 2522.82 | 27.28 | 3573.4 | 2583.4 | 38.32 | | EPS (Rs)* | 7.66 | 3.35 | 128.82 | 13.53 | 10.24 | 32.08 | 13.99 | 11.38 | 22.89 | | | * EPS is on current equity of Rs 492.62 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 |
|
| Ambuja Cements : Consolidated Segment Results | | | Quarter ended | Year to Date |
|---|
| % of (Total) | 202412 | 202312 | Var.(%) | % of (Total) | 202412 | 202312 | Var.(%) |
|---|
| Sales | | Cement | 96.26 | 9,009.36 | 7,860.48 | 14.62 | 96.14 | 24,267.13 | 23,390.47 | 3.75 | | Ready Mix Concrete | 3.74 | 350.49 | 300.02 | 16.82 | 3.86 | 974.56 | 971.57 | 0.31 | | Total Reported Sales | 100.00 | 9,359.85 | 8,160.50 | 14.70 | 100.00 | 25,241.69 | 24,362.04 | 3.61 | | Less: Inter segment revenues | | 31.29 | 31.70 | -1.29 | | 85.54 | 96.39 | -11.26 | | Net Sales | 100.00 | 9,328.56 | 8,128.80 | 14.76 | 100.00 | 25,156.15 | 24,265.65 | 3.67 | | PBIT | | Cement | 99.02 | 1,053.94 | 1,417.88 | -25.67 | 98.53 | 2,457.44 | 3,646.87 | -32.62 | | Ready Mix Concrete | 0.98 | 10.39 | -4.51 | LP | 1.47 | 36.69 | 2.09 | 1,655.50 | | Total PBIT | 100.00 | 1,064.33 | 1,413.37 | -24.70 | 100.00 | 2,494.13 | 3,648.96 | -31.65 | | Less : Interest | | 66.99 | 70.14 | -4.49 | | 201.65 | 183.47 | 9.91 | | Add: Other un-allcoable | | 1,338.73 | 106.47 | 1,157.38 | | 1,850.33 | 835.58 | 121.44 | | PBIT Margin(%) | | Cement | | 11.70 | 18.04 | -633.98 | | 10.13 | 15.59 | -546.46 | | Ready Mix Concrete | | 2.96 | -1.50 | 446.77 | | 3.76 | 0.22 | 354.97 | | PBT | 100.00 | 2,336.07 | 1,449.70 | 61.14 | 100.00 | 4,142.81 | 4,301.07 | -3.68 |
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