ACC Limited Records Cement Volume Growth of 4 Percent and Net Sales Increase of 7 Percent in Quarter Ended September 2022

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Business Wire India

EDITOR’S SYNOPSIS
  • Cement Volume growth of ~4% versus the same quarter, previous year.
  • Ready Mix Concrete (RMX) Volume growth of ~10% versus the same quarter, previous year.
  • Waste Heat Recovery System (WHRS) at Jamul and Kymore plants partially commissioned during the quarter ended September 2022.

 
ACC Limited (ACC), the building materials arm of the diversified Adani Group, today announced the financial results for the quarter ended September 30, 2022.
 
Operational Highlights:

 
  • During the quarter ended September 30, 2022, Cement Volume grew by 4% as compared to the same quarter last year. Ready Mix Concrete performed well with a volume growth of ~10% over the same quarter last year.
  • With a focus on operational excellence & unlocking potential, ACC has accelerated de-bottlenecking of various plants & improvement in efficiencies. Alternative Fuels & Raw materials (AFR) platforms are being leveraged to maximize usage of wastes to reduce power and fuel cost.

 
Financial Highlights:

 
  • ACC recorded net sales of Rs 3,910 Crore as compared to Rs 3,653 Crore in the same quarter last year.
  • EBITDA for the quarter ended September 30, 2022, stood at Rs 16 Crore largely due to steep rise in fuel cost.

“The post-monsoon quarter will see the traditional rebound for the cement sector, including for ACC. We have had significant cost pressures in the recent past due to steep fuel price rise. However, recent cooling off in energy costs will impact us positively in the coming quarters, said” Mr. B. Sridhar, Whole Time Director & CEO ACC Limited. “During the quarter, ACC recorded strong growth in RMX volume of 10% and RMX business remains a huge growth engine for future. We have aggressive growth plans and our capacity expansion initiative through our new green field projects at Ametha is progressing well and is expected to be commissioned by March 2023.”
 
Consolidated Financial Performance for the quarter ended September 30, 2022:
 

Particulars UoM Quarter
Jul-Sep
2022
Quarter
Jul-Sep
2021
Sales Volume – Cement Million Tonnes 6.85 6.57
Sales Volume – Ready Mix Concrete Million Cubic Meters 0.75 0.68
Net Sales Rs Crore 3,910 3,653
EBITDA Rs Crore 16 712
EBITDA Margin % 0.4% 19.5%

 
ESG Highlights:

Targeting ESG leadership, ACC’s Sustainability strategy is led by its Sustainable Development 2030 plan.

 
  • In September 2022, WHRS projects at Jamul and Kymore have been partially commissioned. Next wave of WHRS projects at Chanda and Wadi plants are progressing well. Scaling up of renewable power-solar, wind and hydro is underway.
  • ACC continues its focus to build low carbon portfolio through higher proportion of blended cement and accelerating green products & solutions through increasing usage of AFR.
  • High focus on water governance, sustainable livelihood and social inclusion for the community continues 4 lacs new beneficiaries were added during the quarter.