April – June Quarter 2022
- Ametha project to add ~5 MTPA capacity progressing as per schedule; Integrated unit to be commissioned in Q4 2022
- Waste heat recovery projects at Jamul and Kymore plants on track for commissioning in Q3 2022; Orders placed for next wave of projects at Chanda and Wadi plants
- Strong volume growth of 10.5% vs previous year during the quarter
- EBITDA at ₹ 426 Crore lower by 51% vs previous year due to significant impact of fuel cost increase despite strong efficiencies delivered under project ‘Parvat’
Consolidated Financial Results for second quarter (April-June) 2022
|Sales Volume – Cement||Million Tonnes||7.56||6.84||15.26||14.81|
|Sales Volume – Ready Mix Concrete||Million Cubic meters||0.83||0.58||1.70||1.41|
|Net Sales||₹ Crore||4,393||3,810||8,715||8,024|
|Operating EBIT||₹ Crore||262||723||742||1,440|
|Operating EBIT Margin||%||6.0%||19.0%||8.5%||17.9%|
|Profit before tax||₹ Crore||305||758||837||1,513|
|Profit after Tax||₹ Crore||227||569||624||1,132|
ACC continues its journey of capacity growth with the Ametha integrated project being on track. The integrated unit at Ametha will be commissioned in Q4 2022. Land acquisition and other actions for the grinding unit project at Salai Banwa are progressing as per schedule.
The April to June 2022 quarter was impacted by rising global fuel costs and related inflationary impacts. We were able to mitigate part of this impact through our efficiency project ‘Parvat’. The cost reduction journey will be further accelerated with commissioning of waste heat recovery projects in Jamul, Kymore & Ametha plants taking the share of green power to 15%.
Sustainability continues to be one of our key focus areas. ACC is committed to making a tangible difference in the areas of carbon footprint reduction, protection of natural resources, and enabling progress and welfare of our communities through our various initiatives. I am pleased to inform that our ‘#ChangeTheStory’ campaign, which seeks to free our water bodies of plastic waste, has been widely appreciated at multiple forums.
I am confident that with all the projects that are underway, we will continue to deliver strongly on all our strategic priorities”- said Sridhar Balakrishnan, Managing Director and CEO.
- Net Sales during the quarter increased by 15% to ₹ 4,393 Crore compared to ₹ 3,810 Crore last year
- Profit after tax at ₹ 227 Crore, 60% lower vs previous year
- ‘Parvat’ journey with rigor on improvement of efficiency levers continues.
- Cash & Cash Equivalent stood at ₹ 4,517 Crore as at June 30, 2022.
Government’s concerted efforts to stimulate investment across several sectors will have a favorable impact on improving the overall economic environment in the country. Prediction of a normal monsoon will augur well for the rural economy. We maintain a positive outlook for demand in the coming months.