ACC Q4 results: Profit soars 216% YoY to Rs 749 crore; Rs 7.5 dividend declared
ACC Q4 results: ACC Ltd on Thursday posted a 216.41 per cent surge in its fourth-quarter (Q4 FY24) standalone profit, at Rs 748.54 crore, as against Rs 236.57 crore in the year-ago period.
- Apr 25, 2024,
- Updated Apr 25, 2024 3:33 PM IST
Cement manufacturer ACC Ltd on Thursday posted a 216.41 per cent surge in its fourth-quarter (Q4 FY24) standalone profit, at Rs 748.54 crore, as against Rs 236.57 crore in the year-ago period.
The Adani Group-led company's revenue from operations rose 12.67 per cent to Rs 5,398 crore in March 2024 quarter from Rs 4,791 crore in the corresponding period last year.
The improved performance can be attributed to all round improvement in volume, cost and efficiency parameters, the company said.
"Q4 operating EBITDA up 79 per cent, EBITDA margin up from 9.8 per cent to 15.5 per cent. A total of Rs 1,044 crore cash flows generated from the operations in Q4, Rs 2,995 crore in FY24. Cash and Cash equivalent at Rs 4,667 crore, consolidated net worth at Rs 16,333 crore, up by Rs 2,191 crore from FY23," ACC also mentioned.
Ajay Kapur, Wholetime Director & CEO at ACC, said, "Our financial performance with jump in EBITDA by 138 per cent during the year is a testament to the flexibility and strong foundation of our business model. The trust of our customers and our commitment to building a sustainable future with investment in efficiency improvements, green power etc. has furthered our success, as we emerge even stronger than before. With passing time ACC is getting younger and stronger with the expansion and performance efficiency plans."
ACC has also announced a dividend of Rs 7.5 per share for the financial year 2023-24 (FY24). "The said dividend, if declared by the shareholders at the ensuing AGM, shall be paid on or after July 1, 2024, subject to deduction of tax at source as applicable," the company stated.
The stock was last seen trading 0.82 per cent higher at Rs 2,578.90.
Cement manufacturer ACC Ltd on Thursday posted a 216.41 per cent surge in its fourth-quarter (Q4 FY24) standalone profit, at Rs 748.54 crore, as against Rs 236.57 crore in the year-ago period.
The Adani Group-led company's revenue from operations rose 12.67 per cent to Rs 5,398 crore in March 2024 quarter from Rs 4,791 crore in the corresponding period last year.
The improved performance can be attributed to all round improvement in volume, cost and efficiency parameters, the company said.
"Q4 operating EBITDA up 79 per cent, EBITDA margin up from 9.8 per cent to 15.5 per cent. A total of Rs 1,044 crore cash flows generated from the operations in Q4, Rs 2,995 crore in FY24. Cash and Cash equivalent at Rs 4,667 crore, consolidated net worth at Rs 16,333 crore, up by Rs 2,191 crore from FY23," ACC also mentioned.
Ajay Kapur, Wholetime Director & CEO at ACC, said, "Our financial performance with jump in EBITDA by 138 per cent during the year is a testament to the flexibility and strong foundation of our business model. The trust of our customers and our commitment to building a sustainable future with investment in efficiency improvements, green power etc. has furthered our success, as we emerge even stronger than before. With passing time ACC is getting younger and stronger with the expansion and performance efficiency plans."
ACC has also announced a dividend of Rs 7.5 per share for the financial year 2023-24 (FY24). "The said dividend, if declared by the shareholders at the ensuing AGM, shall be paid on or after July 1, 2024, subject to deduction of tax at source as applicable," the company stated.
The stock was last seen trading 0.82 per cent higher at Rs 2,578.90.