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Business News/ Companies / Company Results/  ACC Q4 results: Net profit jumps 216% to 748.54 crore, revenue up 12.6% YoY; declares 7.5 dividend
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ACC Q4 results: Net profit jumps 216% to ₹748.54 crore, revenue up 12.6% YoY; declares ₹7.5 dividend

ACC Q4 Results: ACC's consolidated sales volume during the quarter rose to 10.4 million tonnes from 8.5 million tonnes in the year-ago quarter. In FY24, the sales volumes increased to 36.9 million tonnes from 30.7 million tonnes.

ACC Q4 Results: Revenue from operations in Q4FY24 rose 12.67% to ₹5,398.11 crore from ₹4,790.77 crore, year-on-year (YoY). (Photo Bloomberg)Premium
ACC Q4 Results: Revenue from operations in Q4FY24 rose 12.67% to 5,398.11 crore from 4,790.77 crore, year-on-year (YoY). (Photo Bloomberg)

ACC Ltd, the Adani Group cement manufacturer, reported a standalone net profit of 748.54 crore for the fourth quarter of FY24, registering a sharp jump of 216% from 236.57 crore in the same period last year.

The company’s revenue from operations in Q4FY24 rose 12.67% to 5,398.11 crore from 4,790.77 crore, year-on-year (YoY).

ACC's consolidated sales volume during the quarter rose to 10.4 million tonnes from 8.5 million tonnes in the year-ago quarter. In FY24, the sales volumes increased to 36.9 million tonnes from 30.7 million tonnes.

Operating performance of the Adani Group company improved during the quarter as Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) increased 79.5% to 837 crore from 467 crore, while EBITDA margin expanded by 570 basis points (bps) to 15.5% from 9.8%, YoY.

ACC’s EBITDA per tonne in Q4 rose 45% to 802 as against 554, YoY.

Also Read: Nestle India Q1 results: Net profit rises 27% to 934 crore, revenue up 9% YoY; declares 8.5 dividend

“Outlook for the cement industry remains positive based on higher budgetary allocation to infrastructure and construction and government’s push for affordable housing along with green energy transition, demand-supply dynamics, and greater consolidation. Adani Cement will have the advantage of accelerated growth, lower cost, group synergies which in turn will help to sustainable performance & market leadership," ACC said in a release.

ACC Dividend

The Board of Directors of ACC recommended a dividend of 7.50 per equity share of face value of 10 each fully paid-up for the Financial Year 2023-24, subject to approval of shareholders of the Company.

The company has fixed Friday, 14th June 2024 as ‘Record Date" for dividend. The said dividend, if declared by the shareholders at the ensuing AGM, shall be paid on or after 1st July 2024, ACC said.

At 3:10 pm, ACC share price was trading 0.82% higher at 2,578.90 apiece on the BSE.

Read all Q4 Results here

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Published: 25 Apr 2024, 02:55 PM IST
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