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Ambuja Cements Limited records robust Cement Volume growth of 12% and Net Sales increase of 14% in quarter ended September 2022
SYNOPSIS
· Net Sales increase of 14% versus the same quarter, previous year.
· Cash and Cash Equivalent at the end of quarter is ₹ 3479 Crore
Ahmedabad, October 21, 2022: Ambuja Cements Limited (Ambuja), the building materials arm of the diversified Adani Group, today announced the financial results for the quarter ended September 30, 2022.
Operational Highlights:
· Robust volume growth of 12% as compared to the same quarter last year.
· Reduction in logistic costs driven by unleashing network synergy and various other cost efficiency measures.
Financial Highlights:
· Net sales of ₹ 3,631 Crore, an increase of 14% as compared to ₹ 3,193 Crore in the same quarter last year.
· EBITDA for the quarter ended September 2022 stood at ₹ 304 Crore.
“Cement industry has been facing significant margin pressure resulting from steep rise in global energy prices. However, recent cooling off in energy prices and post monsoon demand pick up appears like silver lining for coming quarters. Ambuja has embarked upon a transformational journey to gain both scale and market leadership, with focused efforts on ramping up capacity, and margin expansion. By taking advantage of the scope and resources of the Adani Group, we aim to expand more quickly and with greater impact to gain leadership position in Cement industry, said Mr. Ajay Kapur, CEO Ambuja Cements. With the equity infusion by the promoter group in the company, the expansion program will gather pace in the coming time. Considering the promise, we made to double our manufacturing capacity over the next five years, our growth plans are ambitious, and this will be evident in 2023. While cost pressures have not gone away, our growth plans remain strong”.
Continuing and furthering ESG leadership, Ambuja’s Sustainability Strategy is led by its Sustainable Development 2030 plan.
· In September 2022, WHRS projects at Bhatapara, Rauri and Marwar- Mundwa have been partially commissioned. Next wave of WHRS projects at Ambujanagar and Maratha plants are progressing well.
· Significant thrust on increasing share of renewable power - solar, wind and hydro power.
· Ambuja continues its focus to build low carbon portfolio through higher proportion of blended cement and accelerating green products & solutions through increasing usage of Alternate Fuel & Raw Material (AFR).
· Water governance, sustainable livelihood and social inclusion for the community remains highest focus area and company forged new partnerships with reputed corporates and welfare trust to support in their Corporate Social Responsibility programs.
Awards and Recognition:
· Ambuja Cements got recognized as one of the Iconic Brands of India 2022 by the Economic Times.
· Ambuja’s Annual Integrated Report was awarded by the Institute of Chartered Accountants of India for Excellence in Financial Reporting.
· The first combined Ambuja Cements & ACC’s Corporate Sustainability Campaign - ‘ChangeTheStory’ won Silver at the Fulcrum Awards 2022 for Best use of Integrated Communications and won Gold at South Asia SABRE Awards 2022 for its continued focus on Sustainability.”
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