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As a member of the Adani Group, ACC continues to spearhead India's infrastructure development while adhering to the highest standards of corporate governance and environmental stewardship.
ACC Limited, a cornerstone of India's cement industry and a prominent member of the Adani Group, has announced unprecedented financial results for the fiscal year ending March 31, 2024. The company's stellar performance, marked by a lifetime high in annualised Profit After Tax (PAT), underscores its robust position in the market and its commitment to sustainable growth.
Financial Triumphs for FY 2023-24
ACC's Annualized PAT soared to a staggering Rs. 2,337 crore, reflecting a remarkable 378% increase year-on-year (YoY). This milestone is a testament to the company's adept management of resources and strategic vision.
Key financial highlights include a 79% surge in Q4 Operating EBITDA to Rs. 837 Crores, showcasing a substantial improvement in operational efficiency. Additionally, the company boasts a healthy Cash & Cash equivalent reserve of Rs. 4,667 Crores, indicating a strong financial foundation.
Operational Excellence
The fiscal year witnessed a 23.5% increase in sales volume, with revenues climbing by 13% YoY. Notably, the EBITDA margin rose to 15.5%, up by 5.7 percentage points from the previous year. ACC's relentless pursuit of excellence is further evident in its EBITDA (PMT) figure, which reached Rs. 802, marking a 45% YoY increase.
Ajay Kapur, Whole Time Director & CEO of ACC Limited, attributed the company's success to a combination of factors, including improved volume, cost efficiency, and enhanced operational performance. He emphasized ACC's unwavering commitment to sustainability and innovation as driving forces behind its accomplishments.
Sustainable Growth and ESG Commitment
ACC's commitment to environmental, social, and governance (ESG) principles remains unwavering. The company's initiatives include the enlistment of several products in GRIHA's green product catalogue, ongoing efforts to achieve 60% green power by 2028, and a net-zero commitment by 2050 validated by the Science Based Targets initiative (SBTi).
Moreover, ACC's Corporate Social Responsibility (CSR) initiatives have positively impacted over 1.4 million lives through various sustainable development projects, including water management and social inclusion schemes. The company's dedication to environmental conservation is underscored by its achievement of 7x plastic negativity through the co-processing of plastic waste in cement kilns.
Strategic Branding and Partnerships
ACC's strategic branding initiatives, such as the 'Bharosa Atoot' campaign, reinforce its image as a trusted partner in nation-building. Collaborations with prominent sporting events like the ICC Cricket World Cup 2023 and partnerships with teams in leagues like Pro Kabaddi League and International League T20 demonstrate the company's commitment to engaging with diverse audiences.
Outlook and Recognition
Looking ahead, ACC remains optimistic about the cement industry's prospects, buoyed by government initiatives and demand-supply dynamics. The company's recent accolades, including being ranked as 'India’s Most Trusted Cement Brand' and receiving the 'Global Brand Excellence Award' for its social media campaign, affirm its position as an industry leader.
About ACC Limited
Established in 1936, ACC Limited is a subsidiary of Ambuja Cements and a vital player in India's cement and ready-mix concrete sector. With a nationwide presence comprising 20 cement manufacturing sites and over 86 concrete plants, ACC is renowned for its commitment to quality, innovation, and sustainability. As a member of the Adani Group, ACC continues to spearhead India's infrastructure development while adhering to the highest standards of corporate governance and environmental stewardship.