ACC’s Q2FY24 Quarter Results

ACC’s revenues grew 14% YoY
  • 27 Oct 2023
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  • ACC reported 12% quarter-on-quarter (QoQ) decline in its consolidated revenues for the quarter ended September (Q2FY24). On a year-on-year (YoY) basis, it witnessed a growth of 14%.
  • Its expenses for the quarter were down by 11% QoQ and 1% YoY.
  • The company had a net loss of Rs 87 crores in Q2FY23 as against a net profit of Rs 388 crore in Q2FY24.
  • The Earnings Per Share (EPS) for Q2FY24 stood at Rs 20.6.

ACC’s Financial Statements for Q2FY24:

(Rs crores) Q2FY23 Q1FY24 Q2FY24 QoQ (%) YoY (%)
Total income
4,057
5,278
4,634
-12%
14%
Total expenses
4,162
4,655
4,127
-11%
-1%
Profit before tax
-118
626
519
-17%
-
Tax
-31
159
132
-17%
-
Profit after tax
-87
466
388
-17%
-
Earnings per share
-
24.8
20.6

Result Highlights:

  • Clinker production started at Ametha unit.
  • Clinker & Cement sales Volume up by 17.3 % YoY at 8.1 MioT
  • Operational excellence journey continues to deliver improved productivity & performance which have helped reduced operating cost and improve bottomline.
  • Kiln fuel cost reduced by 42%, driven by fuel mix optimisation & higher Alternate fuel consumptions.
  • Waste Heat Recovery System at Kymore & Jamul (22.4 MW) became fully operational. In addition, 16.3 MW at Ametha is expected to commission by Q3 FY24.
  • Share of WHRS in total power consumption will increase to 9% by end of FY24 as against 2.9% last quarter.
  • Sales Volume grew by 20.2% YoY at 17.5 MioT.
  • Cash & Cash equivalent stands at Rs. 3,634 crore as at Sep’23, up by Rs. 538 crore.

Management Commentary One of the highlights of this quarter was the commencement of Ametha Integrated plant in Madhya Pradesh thereby boosting the company’s clinker capacity with additional 3.3 MPTA, while its journey of green power through WHRS and Renewable Power continues and will boost the company’s profitability apart from helping to achieve ESG targets.

Management Outlook

  • Cement industry to witness volumetric growth as demand environment remains robust on the back of increased housing and infrastructure spend.
  • Healthy growth and demand prospects augers well with company’s growth ambition with leading margins. ESG Highlights:
  • Boosting its WHRS capabilities and expanding renewable energy efforts.
  • Target set to attain a fivefold water-positive status by 2030.
  • Firm commitment to Water Management, Sustainable Livelihoods, and Social Inclusion. • Notable enhancements in energy efficiency led to diminished carbon emissions.

Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results

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