ACC's Financial Results For FY 23-24; Record-Breaking Performance?

ACC Financial Results Shatter Records with Highest-Ever Annualized Profit After Tax

ACC Limited (ACC), a key player in India’s cement and building materials sector and a subsidiary of the Adani Group, has released its financial results for the fourth quarter and full year ending March 31, 2024. The company has achieved remarkable milestones, showcasing a robust financial performance across various metrics.

Operational Efficiency Propels ACC's Quarterly Operating EBITDA to New Heights

ACC has reported its highest-ever annualised Profit After Tax (PAT) at Rs. 2,337 Crores, marking an outstanding 378% increase year-on-year. Additionally, the company witnessed a significant surge in its quarterly Operating EBITDA, soaring by 79% to reach Rs. 837 Crores. With a healthy cash reserve of Rs. 4,667 Crores, ACC stands in a formidable financial position.

The company has experienced a notable increase in both sales volume and revenue. Sales volume, comprising clinker and cement, saw a substantial growth of 23.5% year-on-year, reaching 10.4 million tonnes in the fourth quarter and 20.3% annually, totaling 36.9 million tonnes for the fiscal year. Kiln fuel costs have been effectively managed, witnessing a reduction of 19% and 30% year-on-year for the quarter and the fiscal year, respectively. Moreover, ACC has made significant strides in enhancing its operational efficiency, with the EBITDA (PMT) surging by 45% year-on-year to Rs. 802.

CEO Ajay Kapur Hails ACC's Financial Triumph Amidst Industry Challenges

Mr. Ajay Kapur, the Whole Time Director & CEO of ACC Limited, expressed his satisfaction with the company's performance, attributing it to a combination of factors including improved volume, cost, and efficiency parameters. He emphasized ACC's commitment to sustainability and investment in efficiency improvements, which has contributed to the company's success.

Financial Metrics Skyrocket as ACC Continues Growth Trajectory

ACC has witnessed substantial improvements in its financial indicators, with revenue growth at 13%, Operating EBITDA soaring by 79%, and EBITDA margin expanding from 9.8% to 15.5%. The company generated significant cash flows from operations, amounting to Rs. 1,044 Crores in the fourth quarter and Rs. 2,995 Crores for the fiscal year. Moreover, ACC's EPS (Diluted) for the quarter stood at Rs. 50.2 compared to Rs. 12.5 in the corresponding quarter of the previous year.

ACC's ESG Initiatives Cement its Position as a Sustainability Leader

ACC has made noteworthy strides in environmental, social, and governance (ESG) initiatives. Its commitment to sustainability is evident through various initiatives such as achieving 7x plastic negativity by co-processing plastic waste in cement kilns and committing to planting 8.3 million trees by 2030. The company's focus on embracing the circular economy and its range of innovative products underscores its dedication to environmental stewardship.

Bright Outlook Ahead as ACC Capitalizes on Industry Dynamics

Looking ahead, the outlook for the cement industry appears promising, supported by higher budgetary allocations to infrastructure, government initiatives for affordable housing, and the transition to green energy. ACC is poised to capitalize on these opportunities, leveraging its accelerated growth, lower costs, and group synergies to maintain sustainable performance and market leadership.

ACC's Achievements and Accolades Cement its Reputation as a Trusted Brand

ACC share price  The Adani Group held ACC has garnered accolades for its outstanding performance and initiatives, including being ranked as 'India’s Most Trusted Cement Brand' by TRA Research for the second consecutive year and receiving the 'Global Brand Excellence Award' for its inspirational social media campaign.

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