Ametha Integrated Project expected to be commissioned by March 2023
· Cement Volume growth of ~4% versus the same quarter, previous year.
· Ready Mix Concrete (RMX) Volume growth of ~10% versus the same quarter, previous year.
· Waste Heat Recovery System (WHRS) at Jamul and Kymore plants partially commissioned during the quarter ended September 2022.
Ahmedabad, October 17, 2022: ACC Limited (ACC), the building materials arm of the diversified Adani Group, today announced the financial results for the quarter ended September 30, 2022.
· During the quarter ended September 30, 2022, Cement Volume grew by 4% as compared to the same quarter last year. Ready Mix Concrete performed well with a volume growth of ~10% over the same quarter last year.
· With a focus on operational excellence & unlocking potential, ACC has accelerated de-bottlenecking of various plants & improvement in efficiencies. Alternative Fuels & Raw materials (AFR) platforms are being leveraged to maximize usage of wastes to reduce power and fuel cost.
· ACC recorded net sales of ₹ 3,910 Crore as compared to ₹ 3,653 Crore in the same quarter last year.
· EBITDA for the quarter ended September 30, 2022, stood at ₹ 16 Crore largely due to steep rise in fuel cost.
“The post-monsoon quarter will see the traditional rebound for the cement sector, including for ACC. We have had significant cost pressures in the recent past due to steep fuel price rise. However, recent cooling off in energy costs will impact us positively in the coming quarters. said Mr. B. Sridhar, Whole Time Director & CEO ACC Limited. “During the quarter, ACC recorded strong growth in RMX volume of 10% and RMX business remains a huge growth engine for future. We have aggressive growth plans and our capacity expansion initiative through our new green field projects at Ametha is progressing well and is expected to be commissioned by March 2023.”
Consolidated Financial Performance for the quarter ended September 30, 2022:
Sales Volume – Cement
Sales Volume – Ready Mix Concrete
Million Cubic Meters
Targeting ESG leadership, ACC’s Sustainability strategy is led by its Sustainable Development 2030 plan.
· In September 2022, WHRS projects at Jamul and Kymore have been partially commissioned. Next wave of WHRS projects at Chanda and Wadi plants are progressing well. Scaling up of renewable power-solar, wind and hydro is underway.
· ACC continues its focus to build low carbon portfolio through higher proportion of blended cement and accelerating green products & solutions through increasing usage of AFR.
· High focus on water governance, sustainable livelihood and social inclusion for the community continues 4 lacs new beneficiaries were added during the quarter.