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ACC’s net profit dips 40.54% in Q4 FY23

ACC, the cement and building material company of Adani Cement and part of the diversified Adani Group, has reported a dip of 40.54 per cent in its net profit during the quarter ended March 31, 2023. Its profit after tax (PAT) stood at Rs 235.66 crore in Q4 FY23 as against Rs 396.33 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company’s total income from operation was Rs 4,910.06 crore in Q4 FY23, a growth of 9.48 per cent from Rs 4,485.01 crore it recorded in the similar quarter last year.

The board of directors recommended payment of dividend of Rs 9.25 per equity share of Rs 10 each for the financial year ended March 31, 2023.

Ajay Kapur, whole time director & CEO of the company said, “Our transformation journey fuelled by sizeable operational efficiencies, improved synergies and business excellence has led to substantial improvement in our financial performance and overall business indicators. We have a detailed blueprint on each of the cost factors and initiatives to reduce & improve. This along with capex program will position the company back into growth momentum.”

Volume increased by 9% quarter-on-quarter at 8.5 MT, supported by an increase in blended cement (clinker factor reduced from 56.1% to 54.8%) ), better route planning and higher operational synergies with Ambuja Cements, the company said in a media release.

Kiln fuel cost reduced by 10% from Rs. 2.61 per ‘000 kCal to Rs 2.35 per ‘000 kCal with change in coal basket, group synergies on coal procurement, higher Alternate Fuel and Raw Materials (AFR) factor. Manpower cost reduced quarter-on-quarter from Rs 262 PMT to Rs 250 PMT.

While fuel cost is on a declining curve, EBITDA is lower year-on-year due to higher fuel cost compared to last year. Fuel cost is expected to further reduce in the coming months through synergies with the group, it said in the release.

Company’s Ametha Integrated Unit will be commissioned by Q2 FY24, which will increase clinker capacity by 3.30. MTPA (EC approvals in hand for 2.75 MTPA) and grinding capacity by 1 MTPA.


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