ACC Cement’s Q4FY24 Results (Image Source: iStockphoto)
ACC, the Adani group-owned cement giant, has showcased a remarkable performance in its latest financial results for Q4FY24. With a staggering 300 per cent year-on-year surge, the consolidated net profit soared to Rs 945 crore, while revenues climbed impressively by 13 per cent to Rs 5,409 crore.
This robust performance is further underscored by a significant uptick in volumes, which surged by 23.5 per cent to 10.4 million tonnes, compared to 8.5 million tonnes in Q4FY23.
One of the key highlights of ACC’s performance is its exemplary operational efficiency, with EBITDA (earnings before interest, taxes, depreciation, and amortization) margin witnessing a substantial increase to 15.5 per cent, marking a 5.7 percentage points rise year-on-year. The EBITDA per metric tonne also registered a remarkable growth, reaching Rs. 802, up by 45 per cent compared to the previous year.
Moreover, ACC’s prudent financial management is evident from its robust cash flow generation, with a total of Rs. 1,044 crore generated from operations in Q4 and Rs. 2,995 crore in FY24. The company boasts a healthy cash and cash equivalent reserve of Rs. 4,667 crore, along with a consolidated net worth of Rs. 16,333 crore, indicating a significant increase of Rs. 2,191 crore from FY23.
Furthermore, ACC’s focus on enhancing shareholder value is evident from its recommendation of a dividend of Rs. 7.50 per share. The company’s EPS (Earnings Per Share) has also witnessed a substantial improvement, reaching Rs. 50.2 in the March’24 quarter, compared to Rs. 12.5 in the same quarter of the previous year.
As per the company’s filing on the NSE, “The Board has recommended Dividend of Rs.7.50 (Rupees Seven and Fifty Paise only) per Equity Share of face value of Rs.10 each fully paid-up for the Financial Year 2023-24, subject to approval of shareholders of the Company. Pursuant to the Regulation 42 of SEBI Listing Regulations, it is hereby informed that the Company has fixed Friday, 14th June 2024 as ‘Record Date’ for the purpose of determining entitlement of the members of the Company to receive Dividend of Rs.7.50 (Rupees Seven and Fifty Paise only) per Equity Share having face value of Rs.10/- each fully paid-up for the financial year 2023-24.”
On Thursday, the shares of ACC Cement closed at Rs 2,573, .65 per cent up from the previous day’s closing. The 52 week high and low of the share is Rs 2,746.40 and Rs 1,700 respectively. According to the BSE analytics, the shares of ACC Cement have given returns of 49.21 per cent.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. TT Research DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
