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Ambuja Cements Q3 results: Net profit more than doubles on Government sops

Ambuja Cements Q3 results: Net profit more than doubles on Government sops


Ambuja Cements, part of Adani Group company, has reported that its net profit more than doubled this December quarter to ₹2,620 crore against ₹1,091 crore logged in the same period last year on the back of sops from the Government.

Revenue was up four per cent at ₹8,415 crore against ₹8,052 crore logged in the same period last year.

In addition, the company has registered a revenue of ₹913 crore (₹76 crore) as government grants including duty credits and refunds. It has also registered a net tax credit of ₹284 crore.

Management has assessed that there are no appeals in matters against refunds received against certain assessment years in the past years. Accordingly, interest received and interest provision was reversed, said the company.

EBITDA was down at ₹1,712 crore (₹1732 crore) while realisation per tonne was down at ₹1,038 (₹1,225).

Increased use of low cost imported petcoke and efforts to reduce cost of domestic coal has helped to reduce kiln fuel cost by 10 per cent from ₹1.84 to ₹1.66 per 1000 Kcal.

Waste Heat Recovery System power share increased from 12.6 per cent to 16.6 per cent and solar power mix increased to 4.4 per cent from 2.5 per cent, taking the green power share up to 21 per cent from 15 per cent. The company has road map and investment commitments to achieve 60 per cent green power by FY‘28.

Logistics costs reduced by 5 per cent to ₹1,228 a tonne, driven by efficiency improvement journey. The company has deployed 5 BCFC (bogie covered fly ash/cement) rakes against the order for 26 rakes placed earlier for transportation of dry fly ash. It plans to order another 32 BCFC rakes to cater the rising fly ash demand of existing and upcoming plants.

Supply from Krishnapatnam Grinding Unit to Cochin and Mangalore market through sea route has commenced and this will help in optimising freight costs and boost profitability. Penna plants operations getting stabilised and the Clinker capacity utilisation has gone up to 85 per cent.

Ajay Kapur, Whole Time Director & CEO, Ambuja Cements, said the strategic acquisitions have significantly increased market presence and this will be dove-tailed with ongoing expansion projects to propel the company in achieving over 104 MTPA capacity by Q4 FY’25 and 118 MTPA by FY’26.





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