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ACC Q4 results: Net profit rises to ₹748.54 crore, revenue jumps 12.6% YoY
ACC Q4 results were declared today and it revealed a massive 216% increase in net profit to ₹748.54 crore.
Adani group-owned cement manufacturing company ACC Ltd has declared its fourth quarterly results. ACC Q4 results were declared today and it revealed a massive 216% increase net profit to ₹748.54 crore from ₹236.57 crore in the same period last year. The reason behind the performance boost are lower prices helping increase sales volumes. The company also announced that its revenue has increased by 12.6% year-on-year (YoY).
The company's board of directors has also declared that it will be distributing a dividend of ₹7.5 per equity share of face value of ₹10 each fully paid-up for the Financial Year 2023-24. This will be subject to approval at the AGM. Friday, June 14 has been fixed as ‘Record Date" for dividend. The dividend, if approved, will be paid on or after July 1.
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ACC revenue from operations in the quarter increased 12.67% to ₹5,398.11 crore from the earlier ₹4,790.77 crore (YoY).
At the same time, ACC’s consolidated sales volume increased to 10.4 million tonnes from 8.5 million tonnes in the year-ago quarter.
ACC sales volumes increased to 36.9 million tonnes in FY24 from the earlier 30.7 million tonnes.
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The good numbers just kept pouring in one after the other and that applied to ACC's Operating performance too. Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) increased 79.5% to ₹837 crore from ₹467 crore. EBITDA margin too expanded by as much as 570 basis points (bps) to 15.5% from 9.8%, YoY.
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Cement companies have benefitted from strong infrastructure and real estate demand in India over the last few quarters, Reuters reported. Having said that, the January-March quarter is a seasonally strong period, when cement makers resort to steeper-than-normal discounts to boost volumes and meet fiscal year-end targets.
In its statement the company said, “Outlook for the cement industry remains positive based on higher budgetary allocation to infrastructure and construction and government’s push for affordable housing along with green energy transition, demand-supply dynamics, and greater consolidation.”
