ACC Limited reported lower profit at Rs281cr in the last quarter of 2021 calendar year (Q4CY21) against Rs472cr in Q4CY20, a decline of 40.5% yoy. Net sales during the quarter ended December 31, 2021 increased to Rs4,137cr compared to Rs4,066cr last year.
EBITDA during the quarter at Rs556cr showed a decline of 2.8% vs previous year. For the year, net sales increased to Rs15,814cr showing a growth of 17%.
Full year EBITDA improved by 27% at Rs2,998cr. Free Cash Flow improved by 14% during the year, supported by strong working capital management with year end cash balance in excess of Rs7,000cr
Ata round 10.10 am, ACC Ltd was trading at Rs2321.65 per share up Rs11.60 or 0.50% from its previous closing of Rs2,310.05 per share on the BSE.
Full Year 2021
December Quarter 2021
Covid 19 Update
Health and Safety continues to remain our key priority. Strict adherence to government guidelines and Covid appropriate behaviour are ensured across our locations. Adequate infrastructure and medical support is made available to cater to any requirement that may arise. Our teams continuously monitor the situation and take proactive steps to build a safe working environment. 99.9% of our employees and contract workers have already been fully vaccinated.
Dividend
The Board of Directors has recommended payment of dividend at Rs58/- per share of Rs10/- aggregating to Rs1,089cr.
Outlook
Our economy has witnessed a steady recovery during the last few quarters. The adverse impact on the economy of recurring Covid waves is gradually waning, driven by rising vaccinations and adaptation to the new normal. The Union Budget 2022 is likely to provide further impetus to India’s growth driven by the Government’s commitment to investment in infrastructure across the board.
“The year 2021 was a challenging one on many counts. The global economy witnessed major supply chain disruptions resulting in high inflation especially led by fuel costs. Cement demand was also muted during the quarter driven by multiple regional factors across India.
Despite these challenges, ACC was able to deliver another year of strong performance. We delivered a sales growth of 17% during the year with an EBIT growth of 40%. Efficiency measures under Project ‘Parvat’ coupled with product premiumization initiatives have enabled to mitigate inflationary impacts and expand margins,” said Sridhar Balakrishnan, Managing Director and CEO.
“With the launch of our Green products such as ‘ECOPact’ and signing of Net Zero Pledge validated by SBTi, we have further accelerated our Sustainability journey during the year. I am confident, with our upcoming capacity and efficiency projects, we will continue to deliver strong value for all our stakeholders,” he added.
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