ACC Ltd Q3 Results FY2024, Net profit at Rs.538 crores

Shreya Anaokar 25th January 2024 - 04:09 pm

On 25th January, ACC Ltd announced its quarterly results.

Key Highlights:

- In Q3FY24, Revenue stood at Rs.4914 crores
- EBITDA was reported at Rs.905 crores
- The company reported its Net profit at Rs.538 crores

Business Highlights:

- Ametha Integrated Cement Plant started grinding cement at a rate of 1 MTPA. A 3.3 MTPA clinker manufacturing facility was previously put into service in September 2023.
- ACC announced in January 2024 that it will buy a 55% share in Asian Concretes and Cements Private Ltd (ACCPL), which has a 2.8 MTPA cement capacity together with its subsidiary Asian Fine Cements Pvt Ltd (AFCPL). This will make it possible for volume growth to improve even more in the upcoming quarters.
- Ametha's 16.3 MW waste heat recovery system (WHRS) was put into service in Q3 of FY'24, increasing the system's capacity to 46.3 MW. The WHRS facilities at Wadi (21.5 MW) and Chanda (18 MW) are progressing as planned, with a commissioning date of FY 25. This will raise WHRS's overall capacity to 85.8 MW. As a result, WHRS will make up around 25% of the overall power mix.

Commenting on the results, Mr. 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.”