ACC Limited, Part of Adani Group, Achieves Record Annual Profit of Rs 2,337 Crore in FY24

The subsidiary of the Ambuja Cements NS:ABUJ, ACC Limited, had sealed a record FY24 with an annualized PAT of Rs 2,337 crore after tax, registered to grow 378 percent YoY. It was the swell in profitability that describes the strong performance and strategic maneuvering of ACC Limited, a subsidiary of the Adani Group and one of the largest players in the cement industry.

The operating EBITDA of ACC during Q4 grew massively by a whopping 79 percent and stood at Rs 837 crore as per the release. The key parameters driving this commendable performance, as informed by ACC Limited, include improved turnaround in volume, cost efficiencies, and improved operational parameters across the board.

“We continue to solidify our position as a frontrunner in the cement industry. Our financial performance with a jump in EBITDA by 138 per cent during the year is a testament to the flexibility and strong foundation of our business model,” said Ajay Kapur, Whole Time Director and CEO, ACC Limited.

For the fourth quarter of FY24, the company registered PAT at Rs 945 crore, marking a three-time surge YoY.

In the context of the ongoing capex and growth plans of the company. The Board recommended a dividend of Rs 7.50 per equity share, which was the same payout as that of the previous year on a 12-monthly basis.

ACC Limited reported, "We have continuously improved the kiln fuel costs with a revised fuel basket and increased utilization of alternative fuels." The company also provided information regarding its WHRS projects. The 18 MW project at Chanda and the 21.5 MW project at Wadi are going as planned and will be commissioned in the second quarter of the current year. These projects shall add 86 MW of power to the company's capacity, thereby contributing 25 percent to the total power generated.

The company also reaffirmed its dedication towards being a leader in sustainable practices, and there are ongoing initiatives on the usage of green power to achieve 60 percent by 2028. The move is said to save costs, but more importantly, to maximize the level of EBITDA and take the 'SDP Plan 2030' forward.

Moreover, the company can be said to have continued on the growth and innovation path in an attempt to serve its customers and stakeholders. With a strong base of more than 20 cement manufacturing sites, over 86 concrete plants, and a vast network of channel partners in the country, ACC Limited is in a solid position.