Ambuja Cements, the cement and building material company of the diversified Adani Group, on Monday, reported the highest quarterly revenue of Rs 7,516 crore in Q2 FY25, up 1 per cent (year-on-year).
The company saw volume growth of 9 per cent YoY, at 14.2 million tonnes per annum (MTPA), the highest volume in the Q2 series in the last five years.
The net worth increased by Rs 450 crore during the quarter and stands at Rs 59,916 crore. The company remains debt-free and continues to maintain Crisil AAA (stable) and Crisil A1+ ratings.
“We are glad to deliver another sustained performance aligned with our growth blueprint and setting new benchmarks in efficiency. We continue to focus on innovation, digitisation, customer satisfaction and ESG as the core elements of our business,” said Ajay Kapur, Whole Time Director and CEO, Ambuja Cements.
Ambuja Cements last week announced the acquisition of Orient Cement Ltd (OCL) at an equity value of Rs 8,100 crore. The company announced the acquisition of 46.8 per cent shares of OCL from its current promoters and certain public shareholders and the acquisition will be fully funded through internal accruals.
“With our strong foothold across the nation, we are further expanding our footprint in new geographies in line with our vision. Post successful completion of the Orient cement transaction, we are well poised to achieve 100+ MTPA capacity by this fiscal year-end,” Kapur added.
According to the company, strong infrastructure demand and ongoing needs from the housing and commercial sectors are anticipated to boost cement demand in H2 FY25.
The introduction of PMAY Urban Housing 2.0, with an allocation of Rs 11 lakh crore, along with the government’s continued focus on infrastructure development as the key to economic growth augurs well for the cement sector.
"Strategic investments in roads, railways along with urban and commercial amenities, are poised to drive robust growth. We expect demand during FY25 to grow in the range of 4-5 per cent," said the company.
Ambuja, with its subsidiaries ACC Ltd, Penna Cement Industries Ltd and Sanghi Industries Ltd, has taken the Adani Group’s cement capacity to 88.9 MTPA, with 20 integrated cement manufacturing plants, 20 cement grinding units and 12 bulk terminals across the country.
© 2024 IANS. All rights reserved.