ACC logs 15% y-o-y growth in Q2 volumes

24 Oct 2024 , 07:50 PM

On October 24, Adani Group cement-making company ACC released its results for July to September 2024, with a profit of ₹199.7 Crore, down over 48% year on year. 

The cement maker’s sales increased by 4% year-on-year to ₹4,614 Crore, surpassing the projected figure and setting a new quarterly record.

According to ACC, volume increased by 15% year on year to 9.3 million tonnes, marking the largest volume in the Q2 series in the last five years.

The increase in volume was aided by an increase in trade volumes and higher premium product volumes (14% YoY), ensuring market leadership, the company said.

In Q2, the firm’s operating EBITDA (earnings before interest, taxes, depreciation, and amortisation) decreased by over 20% YoY to ₹436 Crore. The margin was 9.5%, a 290 basis point decrease from 12.4% in the same quarter last year.

In the September 2024 quarter, Adani Group’s cash and cash equivalents totalled ₹2,921 Crore, with a net worth of ₹16,725 Crore. According to the announcement, EPS fell to ₹10.5 for the quarter.

In terms of the prognosis, ACC stated that the industry as a whole expects an increase in demand in the second half of 2024-25, which will most likely be driven by a rise in building and housing activity following the monsoon.

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