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Cement & Cement Products company ACC announced Q3FY24 results:

Key Highlights:
- The company observed an 8.3% growth in revenue which now stands at Rs 4,914 crore.
- EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) in Q3 rose by 139% to Rs 905 crore.
- Profit After Tax (PAT) had a significant increase of 375% to Rs 538 crore.
- The Earnings Per Share (EPS) saw a substantial YoY increase of Rs 22.54 reaching Rs 28.55, marking a rise from Rs 6.01 in the previous year's December quarter.

Operational Highlights:
- A 16.5% growth in sales volume for clinker and cement, up at 8.9 million tonnes.
- A reduction in kiln fuel costs by 28%, with the cost going down from Rs 2.59 to Rs 1.86 per '000 kcal.
- Increased usage of waste heat recovery system (WHRS), which now accounts for 9.1% of the total power consumption, up by 2.7 percentage points.

Working Capital and Liquidity:
- The company reported Rs 4,282 crore as cash and cash equivalents, an improvement from the previous quarter's Rs 3,634 crore.
- The working capital cycle stands at 28 days, which is competitive within the industry.

Expansion and Sustainability:
- 1 MTPA cement grinding has started at the Ametha Integrated Cement Plant.
- Total WHRS capacity augmented to 46.3 MW with the newly commissioned 16.3 MW at Ametha.

Outlook and Growth:
- Cement demand in India is expected to grow at 7-8%, with the vision of the country's economic development progressing from a USD 3.5 trillion to a USD 7.3 trillion economy by 2030.

Environmental, Social, and Governance (ESG):
- ACC focuses on a low-carbon product portfolio and aims for a five-fold water-positive status by 2030.
- The company has introduced eco-friendly products and is working on transitioning towards green power as a major energy source.

Awards and Recognition:
- ACC won multiple awards acknowledging its excellence in sustainable practices, safety, and environmental management.

Ajay Kapur, Whole Time Director & CEO of ACC, stated, "ACC's financial performance has seen a complete turnaround in the last 12 months. Recent capacity additions have taken the Adani Group's cement capacity to 77.4 MPTA. This will enable volume and revenue growth on a sustainable basis."

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