Ambuja Cements delivers steady Q2-FY25 performance
Adani Group company Ambuja Cements delivered a steady performance in the July-September quarter of 2024-25 with a volume growth of 9 per cent, at 14.2 million tonne. It was the highest in terms of volume in Q2 series in the past five years.
ANI
Oct 28, 2024 13:25 IST
Ahmedabad (Gujarat) [India], October 28 (ANI): Adani Group company Ambuja Cements delivered a steady performance in the July-September quarter of 2024-25 with a volume growth of 9 per cent, at 14.2 million tonne. It was the highest in terms of volume in Q2 series in the past five years.
The Adani Group company registered highest quarterly revenue of Rs 7,516 crore, up one per cent year-on-year.
The company's net worth increased to Rs 59,916 crore in the quarter, it said in its earnings on Monday.
The company attributed this performance to healthy volume growth, increasing scale of operations, value extraction of acquired assets, enhanced cost leadership, improved operational efficiencies and group synergies.
Ajay Kapur, Whole Time Director and CEO, Ambuja Cements, said, "We are glad to deliver another sustained performance aligned to our growth blueprint and setting new benchmarks in efficiency."
"We continue to focus on innovation, digitalisation, customer satisfaction and ESG as the core elements of our business. 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, the company said it is well poised to achieve 100+ million tonne per annum capacity by this fiscal year end.
For Ambuja (consolidated), business level working capital stands at 33 days, reflecting agility in unblocking the funds in inventory and receivables.
Strong infrastructure demand and ongoing needs from the housing and commercial sectors are anticipated to boost cement demand in the second half of 2024-25.
The introduction of PMAY Urban Housing 2.0, with an allocation of Rs 11 lakh crore, along with government's continued focus on infrastructure development as the key to economic growth augurs well for cement sector, it said.
Strategic investments in roads, railways along with urban and commercial amenities, is poised to drive robust growth. Ambuja Cements expects demand during 2024-25 to grow in the range of 4-5 per cent.
Ambuja Cements, with its subsidiaries has taken the Adani Group's cement capacity to 89 MTPA with 22 integrated cement manufacturing plants and 21 cement grinding units across the country. (ANI)
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