Ambuja Cements Q4 Results (Image Source: iStockphoto)
Ambuja Cements, a leading player in the cement industry, has reported a robust standalone net profit of Rs 532 crore for the quarter ending March 2024. This represents a notable 6 per cent increase compared to the same period last year, where the company recorded a profit of Rs 502 crore.
The company’s revenue from operations during the fourth quarter also saw a commendable growth of 12 per cent year-on-year, reaching Rs 4,780 crore, up from Rs 4,256 crore in the corresponding quarter of the previous year.
The Board has proposed a dividend of Rs 2 per equity share for the financial year 2023-24, subject to shareholder approval. The record date for determining shareholder eligibility has been set for June 14, with dividend payment scheduled after July 1.
In terms of operational performance, Ambuja Cements witnessed a significant 17.3 per cent growth in sales volume (Clinker and Cement) during the fourth quarter, reaching 16.6 million tonnes. Moreover, the company achieved a commendable reduction of 17 per cent in Kiln fuel cost, amounting to Rs 1.84/’000 kCal.
Ambuja Cements continues to maintain a strong financial position, with cash and cash equivalents standing at an impressive Rs 24,338 crore at the end of the March quarter, the highest among industry peers. This financial strength positions the company for accelerated growth in the future.
Furthermore, Ambuja Cements has achieved significant milestones in its expansion plans. The promoter group has fully subscribed to warrants, infusing Rs 20,000 crore into the company. The completion of three acquisitions, including Sanghi, Asian Cements, and GU in Tuticorin, has increased the company’s cement capacity by 11.4 million tonnes per annum (MTPA), reaching a total capacity of 78.9 MTPA.
Mr. Ajay Kapur, Whole Time Director & CEO, Ambuja Cements, said, “We continue to play a vital role in the nation’s growth story. Our growth blueprint implemented in the previous year towards capacity-building through organic and inorganic way, operational efficiency, and decarbonisation measures are yielding excellent results. “Cost optimisation remains core part of our strategy.”
On Monday, the shares of Ambuja Cements closed at Rs 618.95, 1.70 per cent down from the previous day’s closing. The 52 week high and low of the share is Rs 649 and Rs 375.75 respectively.
