Adani-owned ACC Ltd on Thursday reported its fiscal second quarter earnings with a profit decline of 48.5 per cent at Rs 199.66 crore in comparison to Rs 387.85 crore recorded during the corresponding quarter of FY24, missing estimates. It posted revenue from operations at Rs 4,613.52 crore, up 4.0 per cent as against Rs 4,434.73 crore during the same period of previous financial year. Revenue growth was driven by higher trade sales volume (up by 2 per cent) and premium product as percentage of trade sales at 36 per cent (up by 3.7 pp YoY). The company EBITDA stood at Rs 436.4 crore.
According to a CNBC TV18 poll, ACC was expected to report Q2 profit at Rs 209 crore and revenue for the quarter in review was estimated at Rs 4269 crore.
ACC reported cash & cash equivalent at Rs 2,921 crore, with net worth at Rs 16,725 crore, up by Rs 172 crore during the current quarter.
Ajay Kapur, Whole Time Director & CEO, ACC Ltd, said, “Our performance in Q2 reinforces our standing as a frontrunner in the cement industry. Our financial results this quarter – fuelled by higher volumes, cost optimization, increasing efficiencies, and agility – build the momentum for our growth strategy for FY’25 and beyond. Our growth is being driven by robust demand for high-quality cement products across all markets, as well as our continuous efforts to optimise operations and lead on all ESG parameters. Our leadership status is highlighted in our drive for operational excellence supported by innovation, sustainability, and a customer-centric approach.”
ACC Ltd posted clinker and cement sales volume growth of 15 per cent YoY at 9.3 million T, which it added, was the highest ever volume in Q2 series in the last 5 years. “Volume increased by 15 per cent YoY supported by increase in trade volumes and higher premium product volumes (14 per cent YoY), ensuring market leadership,” it said. Thermal value reduced from 768 kCal to 735 kCal, and the company expects further improvement in the coming quarters.
From: financialexpress
Financial News
