Cement & Cement Products company Ambuja Cements announced consolidated Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Quarterly Operating EBITDA for Q4: Increased by 37% YoY to Rs 1,699 crore.
- Q4 EBITDA PMT: Rs 1,026/t up by 17% YoY
- Quarterly EPS (diluted): Rs. 4.79, up by Rs 1.71 YoY
- Cash and Cash Equivalents: Reported a healthy balance of Rs 24,338 crore.
- Sales Volume Growth: Q4 FY24 saw a 17.3% rise at 16.6 million tonnes
- Reduction in Kiln Fuel Cost: Achieved a 17% reduction YoY in Q4
- Power Consumption Efficiency: Waste Heat Recovery System (WHRS) usage increased to 13.5% in Q4
FY24 Financial Highlights:
- Annualized Profit After Tax (PAT): Ambuja Cements reported a lifetime highest annualized PAT of Rs 4,738 crore, an increase of 119% YoY.
- Operating EBITDA for FY24: Increased by 73% to Rs 6,400 crore.
- Sales Volume Growth: FY24 sales volume grew by 8.1% at 59.2 million tonnes.
- Reduction in Kiln Fuel Cost: 26% reduction over the entire FY24.
- Power Consumption Efficiency: Waste Heat Recovery System (WHRS) usage increased to 12.4% for FY24.
- Dividend: The company has recommended a dividend on equity shares at Rs 2.00 per share, maintaining consistency with the previous year on an annualized basis.
Ajay Kapur, Whole Time Director & CEO, Ambuja Cements, said, “Our impressive financial performance during the year is a testament to the resilience and adaptability of our business model. It mirrors the Indian economy, which has emerged as a bright spot amidst a challenging global economic scenario. We remain steadfast in delivering long-term value and sustainable growth as we soar towards doubling capacities, investment in efficiency improvement, green power, assured supplies of raw-material and fuel. We continue to play a vital role in the nation’s growth story. Our growth blueprint implemented in the previous year towards capacity-building through organic and inorganic way, operational efficiency, and decarbonisation measures are yielding excellent results. “Cost optimisation remains core part of our strategy”.