ACC, part of Adani Group, has reported a growth of 300.93 per cent in its net consolidated profit during the quarter ended March 31, 2024. Its profit after tax stood at Rs 944.84 crore in Q4 FY24 as against Rs 235.66 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 5,528.45 crore, a growth of 12.59 per cent from Rs 4,910.06 crore it recorded in the similar quarter last year.The board of directors has recommended dividend of Rs 7.50 per equity share of face value of Rs 10 each fully paid-up for the financial year 2023-24.
In January 2024, the company acquired remaining 55% of the voting share capital of Asian Concretes and Cements (ACCPL) along with its wholly-owned subsidiary Asian Fine Cements (AFCPL) for a cash consideration of Rs 422.63 crore.
During the year ended March 31, 2024, the company has incorporated ACC Concrete South and ACC Concrete Wes as wholly owned subsidiaries.
During the year ended March 31. 2024, the company has commenced commercial production of Cclinker with capacity of 3.3 million ton per annum and cement with capacity of 1 million ton per annum at its integrated cement plant in Madhya Pradesh.
Its sales volume (cement and clinker) witnessed growth of 23.5% at 10.4 MioT in Q4 FY24.