ACC Limited records Cement Volume Growth of 4 per cent and net sales increase of 7 per cent in the Quarter ended September 2022
Oct 17, 2022
Ahmedabad (Gujarat) [India], October 17 (ANI/BusinessWire India): ACC Limited (ACC), the building materials arm of the diversified Adani Group, today announced the financial results for the quarter that ended September 30, 2022.
Operational Highlights:
- During the quarter that ended September 30, 2022, Cement Volume grew by 4 per cent as compared to the same quarter last year. Ready Mix Concrete performed well with volume growth of ~10 per cent over the same quarter last year.
- With a focus on operational excellence & unlocking potential, ACC has accelerated de-bottlenecking of various plants & improvement in efficiencies. Alternative Fuels & Raw materials (AFR) platforms are being leveraged to maximize usage of wastes to reduce power and fuel cost.
Financial Highlights:
- ACC recorded net sales of Rs 3,910 Crore as compared to Rs 3,653 Crore in the same quarter last year.
- EBITDA for the quarter that ended September 30, 2022, stood at Rs 16 Crore largely due to steep rise in fuel cost.
"The post-monsoon quarter will see the traditional rebound for the cement sector, including for ACC. We have had significant cost pressures in the recent past due to steep fuel price rise. However, recent cooling off in energy costs will impact us positively in the coming quarters, said" B. Sridhar, Whole Time Director & CEO ACC Limited. "During the quarter, ACC recorded strong growth in RMX volume of 10 per cent and RMX business remains a huge growth engine for future. We have aggressive growth plans and our capacity expansion initiative through our new green field projects at Ametha is progressing well and is expected to be commissioned by March 2023."
Consolidated Financial Performance for the quarter ended September 30, 2022:
ESG Highlights:
Targeting ESG leadership, ACC's Sustainability strategy is led by its Sustainable Development 2030 plan.
- In September 2022, WHRS projects at Jamul and Kymore have been partially commissioned. Next wave of WHRS projects at Chanda and Wadi plants are progressing well. Scaling up of renewable power-solar, wind and hydro is underway.
- ACC continues its focus to build low carbon portfolio through higher proportion of blended cement and accelerating green products & solutions through increasing usage of AFR.
- High focus on water governance, sustainable livelihood and social inclusion for the community continues 4 lacs new beneficiaries were added during the quarter.
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