Ambuja Cement EBITDA Surges By 70% To ₹1,732 Cr, PAT Soars 123% To ₹1,090 Cr In Q3FY24

Ambuja Cement EBITDA Surges By 70% To ₹1,732 Cr, PAT Soars 123% To ₹1,090 Cr In Q3FY24

In December 2023, Ambuja Cements completed the acquisitions of Sanghi Industries and ACCPL, strengthening the Adani Group's cement market leadership with a capacity of 77.4 MTPA, a 15 per cent increase from the previous year.

FPJ Web DeskUpdated: Wednesday, January 31, 2024, 01:42 PM IST
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Ambuja Cement EBITDA Surges By 70% To ₹1,732 Cr, PAT Soars 123% To ₹1,090 Cr In Q3FY24 | Image: Ambuja Cement (Representative)

Ambuja Cements, the cement and building materials flagship company of the diversified Adani Group, on Wednesday announced its financial results for Q3 FY’24, the company announced through an exchange filing.

Ajay Kapur, Whole Time Director & CEO, Ambuja Cements Limited, said, "Our performance is a reflection of our resilience and focused efforts. Our pursuit of excellence continues to propel us towards setting new benchmarks in our steady growth. We remain steadfast in our mission to deliver value for all stakeholders by redefining the industry landscape.”

Operational Highlights

In December 2023, Ambuja Cements completed the acquisitions of Sanghi Industries and ACCPL, strengthening the Adani Group's cement market leadership with a capacity of 77.4 MTPA, a 15 per cent increase from the previous year. Ongoing cement capacity expansion projects and a board-approved additional expansion outline a roadmap for 110 MTPA by FY 2028. Green power projects, costing Rs. 10,000 crores, aim to elevate the green power share to 60 per cent of expanded capacity, reducing operating costs. "

Notable cost reductions, efficient kiln fuel use, and secured long-term contracts for key raw materials contribute to improved financials. The Adani Group's synergy enhancements within its cement business optimize manpower productivity and cost. Micro-market analysis initiatives promise enhanced ground network performance in the upcoming quarters.

Financial Highlights

The business has demonstrated significant financial growth, with EBITDA, EBITDA PMT, and EBITDA margins surpassing revenue growth due to a sharp improvement in operating costs.

The EBITDA margin reached 21.3 per cent in Q3FY24, marking the highest in the last 10 quarters. The quarter generated an incremental Cash & Cash Equivalent of Rs. 562 crore, resulting in a total of Rs. 8,591 crore, the highest in the industry, even after accounting for outflows related to acquisitions and provided ICDs.

In the 9 months ending Dec’23, Net Worth increased by Rs. 4,067 crore, standing at Rs. 42,824 crore, maintaining a Crisil AAA (stable) / Crisil A1+ rating. At the Ambuja (standalone) business level, Working Capital stands at an efficient 26 days, positioning it favorably within the peer group.

Ambuja Cements shares

The shares of Ambuja Cements on Wednesday at 1:36 pm IST were at Rs 569.10, down by 0.31 per cent.

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