ACC Cement reports impressive financial performance in Q2FY24

ACC Limited, part of the Adani Group, has released its financial results for the quarter ending September 30, 2023, showing a significant increase in profits and operational efficiency.

In the first half of the year, ACC's sales volume saw a growth of 20.2% YoY, reaching 17.5 million metric tons. 

Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) and Profit After Tax (PAT) also exhibited substantial growth compared to the previous year. EBITDA jumped from Rs. 566 crore to Rs. 1,607 crore YoY, while PAT increased from Rs. 140 crore to Rs. 854 crore YoY. 

The company's Cash & Cash Equivalent stands at Rs. 3,634 crore as of September 2023, showing an increase of Rs. 538 crore.

In terms of financial highlights, in the first half of the year, ACC reported a 14% growth in revenue at Rs. 9,636 crore. EBITDA saw a significant increase of Rs. 1,041 crore, reaching Rs. 1,607 crore, and the EBITDA margin expanded by 9.6 percentage points, from 6.6% to 16.2%. 

In Q2FY24, revenue grew by 11.2% at Rs. 4,435 crore, and EBITDA stood at Rs. 759 crore, marking an increase of Rs. 673 crore, driven by cost savings and operational efficiency. The EBITDA margin expanded by 14.2 percentage points, from 2.1% to 16.3%.

ACC Cement's positive financial performance and robust demand environment reflect its growth ambitions and leading margins. The company anticipates a continued increase in demand for the cement industry, driven by housing and infrastructure development, supporting its growth trajectory.