ACC posts 4% growth in cement volume for Sept quarter
Oct 24, 2022
New Delhi [India], October 24 : ACC has reported a 4 per cent growth in its cement volume to 6.85 million tonne (mt) for the quarter ended September 30, against 6.57 mt in the year-ago period.
The company has posted volume growth of 10 per cent in its ready-mix concrete to 0.75 mt for the reviewed quarter, against 0.68 mt in the corresponding quarter the previous year.
The company also announced the waste heat recovery system (WHRS) at Jamul and Kymore plants was partially commissioned during the September quarter.
The cement company recorded net sales of Rs 3,910 crore as compared to Rs 3,653 crore in the same quarter last year. Earnings before interest, taxes, depreciation, and amortisation (Ebitda) for the quarter ended September 30, stood at Rs 16 crore largely due to steep rise in fuel cost.
B. Sridhar, Whole Time Director & Chief Executive Officer, said "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.
He said, "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."
