Business Wire India
April – June Quarter 2022
- Waste Heat Recovery (WHRS) projects at Marwar, Darlaghat and Bhatapara plants on track, to be commissioned in Q3 2022; next phase of WHRS projects progressing well
- Net sales growth of 18% and volume growth of 15% during the quarter compared to previous year
- EBITDA at Rs 685 Crore, impacted by significant rise in fuel prices which has been partly mitigated by efficiency initiatives under ‘I CAN’ program
Standalone Unaudited Financial Results for the quarter and half year ended 30th June 2022
|Sales Volume – Cement + Clinker||Million Tonnes||7.39||6.42||14.89||13.66|
|Net Sales||Rs Crore||3,958||3,342||7,813||6,921|
|Total operating costs||Rs Crore||3,309||2,411||6,444||5,056|
|Operating EBIT||Rs Crore||531||829||1,170||1,681|
|Operating EBIT Margin||%||13.4%||24.8%||15.0%||24.3%|
|Profit before tax||Rs Crore||1,138||967||1,792||1,853|
|Profit after Tax||Rs Crore||1,048||723||1,543||1,388|
Mr. Neeraj Akhoury, CEO, Holcim India and Managing Director & Chief Executive Officer, Ambuja Cements Limited said:
"Ambuja has recorded robust volume growth of 15% and top line growth of 18%. Ambuja Kawach, our green cement, demonstrated a growth of 22% year on year.
The April to June 2022 quarter was impacted by rising fuel prices and related inflationary impacts. This was partly mitigated by improved efficiencies delivered under our ‘I CAN’ program which continues to deliver strong results. In addition, the Master Supply Agreement with ACC also led to strong performance on logistics costs.
Our expansion projects of 8.5 million tonnes of cement capacity at Ropar and Bhatapara are on track. The ongoing Waste Heat Recovery projects of ~ 53 MW are to be commissioned in the third quarter of 2022, which will support our efficiency initiatives and lead to the delivery of our sustainability goals.
Our sustainability campaign ‘Change The Story’ of Ambuja Cements and ACC, has been widely appreciated and won multiple awards. The campaign aimed to create awareness about sustainability and showcase technology-backed solutions that offer effective and measurable outcomes."
Standalone Financial performance for the quarter ended 30th June 2022
Consolidated unaudited financial results for the quarter and half year ended 30thJune 2022
|Net Sales||Rs Crore||7,943||6,899||15,697||14,516|
|Operating EBIT||Rs Crore||796||1,551||1,915||3,120|
|Operating EBIT Margin||%||10.0%||22.5%||12.2%||21.5%|
|Net income attributable to Ambuja Group||Rs Crore||752||877||1,411||1,824|
Performance of ACC Limited, a Material Subsidiary
The Reserve Bank of India, during its June meeting, noted that the domestic economic recovery is gaining strength. Investment activity is to be aided by improving capacity utilisation, the government’s capex push, and strengthening bank credit; this bodes well for cement demand. Further, rural consumption should benefit from a normal monsoon owing to improvement in agricultural prospects.
This press release may contain “forward-looking statements” – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and may contain words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “should” or “will.” For us, uncertainties may arise from fluctuations in material costs, availability of limestone, demand of cement and other factors affecting the demand including those of a political, economic, business, competitive or regulatory nature. Actual future results may differ substantially or materially than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
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