Ambuja Cements, part of Adani Group, has reported a decline of 52.10 per cent in its net consolidated profit during the quarter ended September 30, 2024. Its profit after tax stood at Rs 472.89 crore as against Rs 987.24 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 7,890.14 crore in Q2 FY25 as against Rs 7,899.99 crore it recorded in the similar quarter last year.
Ajay Kapur, whole time director & CEO of the company said, “Post successful completion of the orient cement transaction, we are well poised to achieve 100+ MTPA capacity by this fiscal year end.”The company’s net worth increased by Rs 450 crore during the quarter and stood at Rs 59,916 crore. It remains debt free & continues to maintain Crisil AAA (stable) / Crisil A1+ ratings. The cash & cash equivalent stands at Rs 10,135 crore as on September 30, 2024.
Its volume grew 9% year-on-year to 14.2 million tonne in Q2 FY25.
During the quarter ended September 30, 2024, the company has invested Rs 2,200 crore by subscribing 8% non- convertible cumulative redeemable preference shares (RPS) of Rs 10 each of it’s subsidiary, Sanghi Industries.
The company recently announced the signing of a binding agreement with Orient Cements for acquisition of
46.8% shares, at an equity value of Rs 8,100 crore.
