Ambuja Cement Q3 Results FY2024, Net profit at Rs.1089.55 crores

Shreya Anaokar 31st January 2024 - 05:03 pm

On 31st January, Ambuja Cement announced its quarterly results.

Key Highlights:

- Consolidated Revenue from Operations was at Rs.8182.80 crores.
- Profit before tax at Rs.1448.12 crores
- Net Profit was reported at Rs.1089.55 crores

Business Highlights:

- Ambuja Cements effectively concluded the acquisition of Sanghi Industries, which had a 6.1 MTPA capacity, in December 2023. Ambuja's subsidiary ACC finished buying the remaining 55% of Asian Concretes and Cements Private Ltd (ACCPL), which has a capacity of 2.8 MTPA, this month. The Adani Group's market dominance is strengthened by these purchases, which increase its cement capacity to 77.4 MTPA—a 15% increase over the previous year. Integration of these acquired businesses is progressing satisfactorily.
- Cement capacity is now being expanded by 20 MTPA at various stages. The Board authorized expanding cement capacity by 12 MTPA, with an aim of 110 MTPA (80% of 140 MTPA by FY 2028).
- On a consolidated basis, the total cost of PMT was decreased by Rs. 491. Continued investments in efficiency enhancement initiatives are projected to result in more savings.

Commenting on the results, Mr. Ajay Kapur, Whole Time Director & CEO, Ambuja Cements Limited, said, "Our performance is a reflection of our resilience and focused efforts. Our pursuit of excellence continues to propel us towards setting new benchmarks in our steady growth. We remain steadfast in our mission to deliver value for all stakeholders by redefining the industry landscape.”