Ambuja Cement Q1 Results FY2023, PAT at Rs. 1048 crores

On 19th July 2022, Ambuja Cement announced its quarterly results for the first quarter of FY2023

Q1FY23 Key Highlights:

- Net Sales during the quarter increased to Rs. 3,958 Crore compared to Rs. 3,342 Crore in the corresponding quarter of the previous year, resulting in a growth of 18%

- Total operating costs increased due to a significant rise in fuel costs

- EBITDA at Rs. 685 Crore, impacted by a significant rise in fuel prices which has been partly mitigated by efficiency initiatives under the 'I CAN' program, and Operating EBIT is Rs. 531 Crore

- Cash & Cash Equivalent stood at Rs. 3,625 Crore as of 30th June 2022

-  PBT was reported at Rs. 1138 crore with a growth of 17.68%

- The company reported PAT at Rs. 1048 crore with a growth of 44.95%

- Waste Heat Recovery (WHRS) projects at Marwar, Darlaghat, and Bhatapara plants are on track, to be commissioned in Q3 2022; the next phase of WHRS projects progressing well.

Commenting on the results Mr. Neeraj Akhoury, CEO, Holcim India, and Managing Director & Chief Executive Officer, Ambuja Cements Limited said: “Ambuja has recorded robust volume growth of 15%, and top-line growth of 18%. Ambuja Kawach, our green cement, demonstrated a growth of 22% year on year. The April to June 2022 quarter was impacted by rising fuel prices and related inflationary impacts. This was partly mitigated by improved efficiencies delivered under our 'I CAN' program which continues to deliver strong results. In addition, the Master Supply Agreement with ACC also led to strong performance on logistics costs. Our expansion projects of 8.5 million tonnes of cement capacity at Ropar and Bhatapara are on track. The ongoing Waste Heat recovery projects of - 53 MW are to be commissioned in the third quarter of 2022, which will support our efficiency initiatives and lead to the delivery of our sustainability goals.”