17 Feb 2022 , 09:00 PM
Business Wire India
Standalone | Units | Oct-Dec’21 Quarter |
Oct-Dec’20 Quarter |
Jan-Dec’21 Full Year |
Jan-Dec’20 Full Year |
|
Sales Volume – Cement | Million Tons | 7.0 | 7.0 | 26.5 | 22.6 | |
Net Sales | Rs. Crore | 3,679 | 3,468 | 13,794 | 11,175 | |
Total operating costs | Rs. Crore | 3,167 | 2,747 | 10,757 | 8,725 | |
EBITDA | Rs. Crore | 568 | 768 | 3,207 | 2,647 | |
Operating EBIT | Rs. Crore | 398 | 642 | 2,656 | 2,125 | |
Profit after tax * | Rs. Crore | 252 | 497 | 2,081 | 1,790 |
Financial Performance for the year and quarter ended December 2021
Net Sales for the year stood at Rs. 13,794 Crore compared to Rs. 11,175 Crore in the previous year, registering a growth of 23% year on year supported by strong growth in sales volumes and product mix.
Efficiencies delivered under our flagship ICAN program partly mitigated the impact of cost headwinds. However, total operating cost per ton increased by 3% during the year.
Operating EBIT stood at Rs. 2,656 Crore compared to Rs. 2,125 Crore, recording a strong growth of 25% year on year.
Net Sales during the quarter stood at Rs. 3,679 Crore compared to Rs. 3,468 Crore in the corresponding quarter of the previous year, registering a growth of 6% year on year. Operating EBIT stood at Rs. 398 Crore.
We are continuously working towards the development of our communities based on their needs in the areas of water resource management, skill as well as agri- livelihood development, women empowerment, community health and education for all.
New Expansion Project
The Board has approved in principle an investment of Rs. 3,500 Crore for a cement grinding expansion plan of potential 7.0 million tons across our existing grinding units at Sankrail and Farakka and at a greenfield location at Barh, in Bihar. This is supported by a 3.2 million tons brownfield clinker expansion at our existing integrated plant in Bhatapara, Chhattisgarh.
Dividend
The Board of Directors have recommended a dividend on equity shares of Rs. 6.30 per equity share.
Consolidated Audited Financial Results for the quarter and year ended December 2021
Consolidated | Units | Oct-Dec’21 Quarter |
Oct-Dec’20 Quarter |
|
Jan-Dec’21 Full Year |
Jan-Dec’20 Full Year |
Net Sales | Rs. Crore | 7,503 | 7,350 | 28,548 | 24,094 | |
EBITDA # | Rs. Crore | 1,128 | 1,472 | 6,210 | 5,135 | |
Operating EBIT # | Rs. Crore | 798 | 1,188 | 5,058 | 3,973 | |
Net income attributable to Ambuja Group | Rs. Crore | 291 | 732 | 2,780 | 2,365 |
# Excluding Rs. 128.92 crore, one time charge, included in other expenses in the December 2020 quarter and year.
Performance of ACC Limited, a Material Subsidiary
For the year, Net Sales increased to Rs. 15,814 Crore compared to Rs. 13,487 Crore registering a growth of 17%. EBIT for the year 2021 improved by 40% to Rs. 2,397 Crore. Free Cash Flow improved by 14% during the year, supported by strong working capital management, with year-end cash balance in excess of Rs. 7,000 Cr.
Net Sales during the quarter increased to Rs. 4,137 Crore compared to Rs. 4,066 Crore last year. EBIT during the quarter stood at Rs. 396 Crore.
COVID-19 update
We continue to ensure strict adherence to the Union and State Government COVID-19 mitigation guidelines across all our plants and offices. We have focused on the vaccination of our employees, dependents and third-party workers. More than 98% are fully vaccinated now. We also encourage COVID-19 testing at periodic intervals to further strengthen COVID-19 mitigation related assurances around our operating sites.
Outlook
Economic activity continues to see improvement due to upbeat business confidence. The recently announced Union Budget focuses on growth led by substantial increase in the capex for the infrastructure sector. Cement demand growth is expected to remain positive backed by increased demand for housing combined with the government’s thrust on infrastructure development.
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