Ambuja Cements Ltd.'s third-quarter profit rose 32.21% on a year-on- year basis.
The Adani-owned cement manufacturer's standalone net profit stood at Rs 513.68 crore in the quarter ended December, compared to Rs 368.99 crore a year ago, according to an exchange filing.
Ambuja Cement Q3 FY24 (Standalone, YoY)
Revenue up 7.53% at Rs 4439.5 crore vs Rs 4128.5 crore
Ebitda rises 33.12% at Rs 851.04 crore vs Rs 639.28 crore
Margin up 368 bps at 19.16% vs 15.48%
Net profit up 32.21% at Rs 513.68 crore vs Rs 368.99 crore
Capacity Expansion
Ambuja Cements successfully completed the acquisition of Sanghi Industries' 6.1 MTPA capacity in December 2023. In Jan 2024, Ambuja’s subsidiary ACC completed the acquisition of the balance 55% stake in Asian Concretes and Cements Pvt. Ltd having 2.8 MTPA capacity.
These acquisitions take the total cement capacity of Ambuja Cement's to 77.4 MTPA, up 15% YoY.
The company also reported that it has ongoing cement expansions of 20 MTPA at various stages. The filling also stated that the board has approved additional cement capacity expansion of 12 MTPA.
Shares of Ambuja Cement traded 2.98% lower at Rs 553.85 apiece after the results were announced, as compared with a 0.64% rise in the NSE Nifty 50 as of 1:02 p.m
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