ACC Q3 operating EBITDA grows 139% to Rs 905 crores; PAT up 375% at Rs 538 cr

Ahmedabad, January 25, 2024:  ACC Limited, on Thursday announced robust Q3 FY’24 financial results.

Ajay Kapur, Whole Time Director & CEO, ACC Limited, said, “ACC’s financial performance has seen a complete turnaround in the last 12 months. Recent capacity additions have taken the Adani Group’s cement capacity to 77.4 MPTA. This will enable volume and revenue growth on a sustainable basis.” 

Operational Highlights:

• 1 MTPA cement grinding commenced at the Ametha Integrated Cement Plant. Earlier, in Sept 2023, 3.3 MTPA clinker production facility was commissioned. (In January 2024, ACC announced acquisition of 55% stake in Asian Concretes and Cements Private Ltd (ACCPL), which along with its subsidiary Asian Fine Cements Pvt Ltd (AFCPL), has 2.8 MTPA cement capacity). 
• Kiln fuel cost reduced, driven by optimization of fuel mix and higher consumption of alternative fuels.
• 16.3 MW of waste heat recovery system (WHRS) at Ametha commissioned in Q3 FY’24, resulting in increase in WHRS capacity to 46.3 MW. Work on WHRS facility at Chanda (18 MW) & at Wadi (21.5 MW) is on track and will be commissioned in FY’25. This will take the total capacity of WHRS to 85.8 MW. This will result in WHRS share in total power mix ~@25%.

Financial Highlights: 

The company has achieved significant improvements in all financial matrices, says a press release issued by ACC.  Revenue has grown 8.3%, Operating EBITDA (excl. other income) has grown 139%, EBITDA margin expanded by 10 pp from 8.4% to 18.4%.   

Cash & Cash equivalent at Rs. 4,282 crore is an improvement over previous quarter (Rs. 3,634 crore). The Company’s consolidated net worth has improved by Rs.538 crore and stands at Rs.15,361 crore. Working capital is amongst the best in comparison with peers and stands at 28 days cycle.

Sharp jump in EPS from Rs. 6.01 in Dec’22 to Rs. 28.55 in Dec’23. Shareholder’s net worth reflects turnaround in all KPIs, resulting in a robust financial performance and balance sheet strength.  

Consolidated Financial Performance for Q3 and 9M FY ‘24: