Ambuja Cements' net profit up y-o-y by 63.61% in March quarter

2 May 2024 , 01:34 PM

Ambuja Cements reported a significant surge in its consolidated net profit, soaring by 63.61% to ₹1,055.16 Crore in Q4 FY24 compared to ₹644.94 Crore in Q4 FY23.

Revenue from operations witnessed a notable increase, reaching ₹8,893.99 Crore in the March quarter, marking an 11.65% rise from ₹7,965.98 Crore in the same period last year.

Profit before exceptional items and tax grew by 22.32% year-on-year to ₹1,389.57 Crore in the quarter ended March 31, 2024, with an exceptional loss of ₹211.57 Crore reported in Q4 FY24.

Ambuja Cements’ sales volume (cement and clinker) surged to 16.6 million tons during the quarter, up by 17.73% year-on-year from 14.1 million tons reported in the corresponding quarter of the previous year.

Operating EBITDA witnessed a remarkable jump of 37.12% to ₹1,699 Crore in Q4 FY24 from ₹1,239 Crore in Q4 FY23. EBITDA margin improved to 19.1% in Q4 FY24 compared to 15.6% in the similar quarter of the previous year.

EBITDA per metric ton (PMT) increased by ₹149 (17% year-on-year), with a margin expansion of 3.5 percentage points. Cash flows generated from operations totaled ₹1,945 Crore in Q4 and ₹5,646 Crore in FY24.

The company’s net worth witnessed a significant increase by ₹8,022 Crore during the quarter, standing at ₹50,846 Crore. Ambuja Cements remained debt-free and maintained Crisil AAA (stable) / Crisil A1+ ratings.

With cash and cash equivalents at ₹24,338 Crore (including warrant money of ₹8,339 Crore received in April 24), the company boasts the highest among peers in the industry, enabling accelerated growth in the future.

Ambuja Cements attributed the volume expansion and improved operational parameters to growth in all business performances, including profitability, cash and cash equivalents, and net worth.

On a full-year basis, the cement manufacturer witnessed a 38.45% growth in net profit to ₹35,76.79 Crore despite a 14.84% decline in revenue to ₹33,159.64 Crore in FY24 compared to FY23. Sales volume increased by 8.23% year-on-year to 59.2 million tons in FY24.

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