Ambuja Cement Q4: Leading cement manufacturer Ambuja Cement today reported that its profit after tax for the January-March quarter jumped 100% over the corresponding quarter previous year. During the period, its consolidated net profit surged to Rs 1,525.8 crore - up from Rs 763 crore.
In Q4, Ambuja’s revenue from operations grew 11.6% year-on-year to Rs 8,894 crore, over Rs 7,966 crore that it had posted in the same quarter previous year. Operating EBITDA (earnings before interest, tax, depreciation & amortisation) grew 37% year-on-year to Rs 1,699 crore. As result, its EBITDA margin expanded by 350 basis points to 19.1% in Q4, FY2024 from 15.6% in Q4, FY2023. Sales volume of its clinker & cement grew 17.3% to 16.6 million tonnes.
For the year ended 31 March 2024, Ambuja’s annualised net profit jumped 119% to Rs 4,738 crore - up from Rs 2,168 crore in FY2023. While its EBITDA grew 73% over the previous year to Rs 6,400 crore. As a result, EBITDA margin improved by a whopping 740 basis points to 19.3% in FY2024 from 11.6% in FY2023.
Operating revenue, during FY2024, grew in single digit over the previous year. In the year, its operating revenue stood at Rs 33,160 crore - 7% higher than Rs 31,037 crore in FY2023.
“We remain steadfast in delivering long-term value and sustainable growth as we soar towards doubling capacities, investment in efficiency improvement, green power, assured supplies of raw-material and fuel. 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,” said Ajay Kapur, Whole Time Director & CEO, Ambuja Cements. The Board of Directors of the company have recommended a dividend on equity shares at Rs 2.00 per share.
According to Ambuja Cement management, the cement industry’s “outlook remains positive driven by pre-election spending, ongoing government emphasis on infrastructure development, and sustained real estate activity. Adani Cement will have advantage of accelerated growth, cost leadership, synergy with group businesses which will help to sustain market leadership,” it said in a statement.