Revenue from operations was at Rs 8,893.99 crore in the March quarter, up 11.65% from Rs 7,965.98 crore posted in the same period last year.
Profit before exceptional items and tax grew by 22.32% year on year to Rs 1,389.57 crore in the quarter ended 31 March 2024. The company reported an exceptional loss of Rs 211.57 crore in Q4 FY24.
Ambuja Cements’ sales volume (cement and clinker) stood at 16.6 million tons during the quarter, up 17.73% YoY from 14.1 million tons reported in the corresponding quarter previous year.
Operating EBITDA jumped 37.12% to Rs 1,699 crore in Q4 FY24 from Rs 1,239 crore reported in Q4 FY23. EBITDA margin improved to 19.1% in Q4 FY24 as compared to 15.6% recorded in the similar quarter previous year.
EBITDA PMT has grown by Rs 149 (17% YoY) and margin expanded by 3.5 PP. A total of Rs 1,945 crore cash flows generated from the operations in Q4 and Rs 5,646 crore in FY24.
Net worth increased by Rs 8,022 crore during quarter and stood at Rs 50,846 crore, the company remained NIL debt & continued to maintain Crisil AAA (stable) / Crisil A1+ ratings, said the firm.
The cash & cash equivalent was at Rs 24,338 cr (including warrant money of Rs 8,339 cr received in April ‘24), highest amongst peers in the industry, enables accelerated growth in future, the company stated.
The cement maker added that the volume expansion along with improved operational parameters have resulted in growth in all business performances viz. profitability, cash & cash equivalent and net worth.
On full year basis, the cement manufacturer's net profit grew 38.45% to Rs 35,76.79 crore despite of 14.84% decline in revenue to Rs 33,159.64 crore in FY24 over FY23.
The company's sales volume (cement+ clinker) increased by 8.23% YoY to 59.2 million tons in FY24.
On its outlook, Ambuja Cements said, “The cement industry’s outlook remains positive driven by pre-election spending, ongoing government emphasis on infrastructure development, and sustained real estate activity. Adani Cement will have advantage of accelerated growth, cost leadership, synergy with group businesses which will help to sustain market leadership”.
Ajay Kapur, Whole Time Director & CEO, Ambuja Cements, said, “We remain steadfast in delivering long-term value and sustainable growth as we soar towards doubling capacities, investment in efficiency improvement, green power, assured supplies of raw-material and fuel. We continue to play a vital role in the nation’s growth story. Our growth blueprint implemented in the previous year towards capacity-building through organic and inorganic way, operational efficiency, and decarbonisation measures are yielding excellent results. “Cost optimisation remains core part of our strategy”.
Meanwhile, the company’s board has recommended dividend of Rs 2 per share for the financial year 2023-24, subject to approval of shareholders. The company has fixed record date on Friday, 14 June 2024 and the dividend, if declared, will be paid on or after 1 July 2024.
Ambuja Cements is a major cement producing company in India. The principal activity of the company is to manufacture and market cement and clinker for both domestic and export markets.
Shares of Ambuja Cements shed 0.06% to Rs 619.35 on the BSE.