Ambuja Cements Q3 PAT slumps 69% YoY to Rs 138 cr

21 Oct 2022 , 03:03 PM

The companys sales volume grew by 12.3% YoY to 6.74 million tons and realizations stood at Rs 5,148 per ton in Q3 CY22 as against Rs 5,154 per ton in Q3 CY21.The growth in sales volume was driven by reduction in logistic costs, unleashing network synergy and various other cost efficiency measures. Profit before tax in Q3 CY22 stood at Rs 156.30 crore, down by 73.6% from Rs 592.21 crore in Q3 CY21. EBITDA dropped 56.76% to Rs 304 crore in Q3 CY22 from Rs 703 crore recorded in Q3 CY21. EBITDA margin declined to 8.4% in Q3 CY22 as against 22% in Q2 CY21. On consolidated basis, the companys net profit slumped 94% to Rs 51 crore despite of 8% increase in net sales to Rs 7,051 crore in Q3 CY22 over Q3 CY21. EBITDA fell 76% to Rs 334 crore during the quarter. EBITDA margin stood at 4.7% in Q3 CY22 as against 21.7% in Q3 CY21. Ajay Kapur, CEO of Ambuja Cements said, Cement industry has been facing significant margin pressure resulting from steep rise in global energy prices. However, recent cooling off in energy prices and post monsoon demand pick up appears like silver lining for coming quarters. Ambuja has embarked upon a transformational journey to gain both scale and market leadership, with focused efforts on ramping up capacity, and margin expansion. By taking advantage of the scope and resources of the Adani Group, we aim to expand more quickly and with greater impact to gain leadership position in cement industry. With the equity infusion by the promoter group in the company, the expansion program will gather pace in the coming time. Considering the promise, we made to double our manufacturing capacity over the next five years, our growth plans are ambitious and this will be evident in 2023. While cost pressures have not gone away, our growth plans remain strong. The companys cash and cash equivalent stood at Rs 3,479 crore as on 30 September 2022. Ambuja Cements is one of the leading cement companies in India. It is part of the Holcim Group, a global leader in building materials and solutions and active in four business segments: cement, aggregates, ready-mix concrete and solutions & products. Shares of Ambuja Cements declined 0.78% to currently trade at Rs 513.50 on the BSE. Powered by Capital Market – Live News