Ambuja Cements, the cement and building materials arm of Adani Group, has reported a growth of 99.89% in its net consolidated profit during the quarter ended March 31, 2024. Its profit after tax stood at Rs 1,525.78 crore in Q4 FY24 as against Rs 763.30 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 9,127.45 crore in Q4 FY24, a growth of 10.63 per cent from Rs 8,250.45 crore it recorded in the similar quarter last year.
Ajay Kapur, whole time director & CEO of the company said, “Cost optimisation remains core part of our strategy.”
The board of directors have recommended dividend of Rs 2 per equity share of face value of Rs 2 each fully paid-up for the financial year 2023-24.
During the year ended March 31. 2024, the company has incorporated LOTIS IFSC, Ambuja Concrete North and Ambuja Concrete West as wholly-owned subsidiaries.
During the year ended March 31. 2024, the company has completed acquisition of 14,08,21,941 equity shares representing 54.51% of the equity share capital of Sanghi Industries for a cash consideration of Rs 1,716.61 crore (at Rs 121.90 per share).
Subsequent to the quarter and year ended March 31. 2024, the company has entered into a definitive agreement with My Home Industries (MHIPL) for acquisition of its 1.5 MTPA cement grinding unit in Tuticorin, Tamil Nadu on slump sale basis at a total value of Rs 413.75 crore.
Thermal value (consolidated) reduced from 755 kCal to 742 kCal. Out of 1 GW renewable power, 200 MW Solar power will be operational in May 2024, green power share will improve to ~30 %, cost saving / EBITDA
improvement by ~Rs 30 PMT annualised.
A total of Rs 1,945 crore cash flows generated from the operations in Q4, Rs 5,646 crore in FY24. Net worth increased by Rs 8,022 crore during quarter and stands at Rs 50,846 crore, company remains NIL debt & continues to maintain Crisil AAA (stable) / Crisil A1+ ratings.