Ambuja Cements Q1 Results FY2024, Profit at Rs. 1135.46 Crores
On 2nd August 2023, Ambuja Cement announced its quarterly results for the last quarter of FY2023.
Ambuja Cement Financial Highlights:
- Net Revenue up by 9% YoY, at Rs. 8,713 Crores.
- EBITDA rose by 55%, at Rs. 1,930 Crores and EBITDA margin expanded by 6.7% to 22.2%
- Cost reduced by Rs, 348 PMT mainly driven by cost reduction journey and expected to further reduce given the various initiatives outlined.
- PAT rose by 31% to Rs. 1135.46 Crores as compared to Rs. 865.49 Crores last year same quarter
Ambuja Cement Business Highlights:
- An increase in blended cement and an improvement in efficiency parameters are supporting long-term volume growth. In all major markets, strong market leadership has been maintained.
- Reduced by 17% from Rs. 2.49 per '000 kCal to Rs. 2.07 per '000 kCal, the cost of kiln fuel. Future mix optimization will further reduce the cost of fuel.
- WHRS of 18 MW have been put into operation at Bhatapara, Suli, and Rauri this quarter. At Suli, Ametha, and Maratha, an additional 33 MW is anticipated this year. By the end of the year, the WHRS total capacity will be 121 MW.
Commenting on the results, Mr. Ajay Kapur, Whole Time Director & CEO, Ambuja Cements said, “We are delighted to report a strong performance in the first quarter of FY 2023-24, with a 9% increase in revenue, 55% increase in EBITDA and 31% increase in PAT compared to the previous year same quarter. Along with the strong demand for our premium cement products, growth was fueled by our various competencies in operational excellence, supply chain management, and sales & marketing excellence. Our synergies with the Adani Group companies are lowering input costs, which is boosting EBITDA growth. Furthermore, our blueprint of improvements through Group synergies and CAPEX for efficiency and decarbonization whilst creating opportunities, will redefine the cement industry landscape.”
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