ACC Ltd, a prominent cement manufacturer under the Adani Group umbrella, recently released its financial results for the fourth quarter of FY24. The company’s performance during this period showcased remarkable growth and positive indicators, reflecting its robust position in the industry.
Financial Highlights
Standalone net profit surged by 216% to ₹748.54 crore from ₹236.57 crore in the same period last year.
Revenue from operations in Q4FY24 increased by 12.67% to ₹5,398.11 crore from ₹4,790.77 crore YoY.
Consolidated sales volume rose to 10.4 million tonnes from 8.5 million tonnes in the year-ago quarter, marking a significant uptick in sales momentum.
Operating performance witnessed a substantial improvement, with EBITDA increasing by 79.5% to ₹837 crore and EBITDA margin expanding by 570 bps to 15.5% YoY.
EBITDA per tonne in Q4 rose by 45% to ₹802 compared to ₹554 in the previous year.
Outlook and Strategic Positioning
ACC expressed optimism about the cement industry’s future outlook, citing various factors such as increased budgetary allocation to infrastructure, government initiatives for affordable housing, and the green energy transition. The company highlighted its advantageous position within the Adani Group, expecting accelerated growth, cost efficiencies, and synergies that will contribute to sustainable performance and market leadership.
Dividend Declaration
The Board of Directors recommended a dividend of ₹7.50 per equity share for the Financial Year 2023-24, subject to shareholder approval. The dividend’s record date is Friday, 14 June 2024, and the payout is scheduled for or after 1 July 2024.
Summary
ACC Ltd’s impressive performance in Q4FY24 underscores its resilience and strategic acumen in navigating market dynamics. With robust financials, a positive outlook, and strategic positioning within the Adani Group, ACC is poised for sustained growth and market leadership in the cement industry.
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