Q1FY24 Quarterly Result Announced for Ambuja Cements Ltd.
Ambuja Cements announced Q1FY24 results: Net Revenue up 9% YoY at Rs 8,713 crore Cost reduction by 7.1% YoY from Rs 4,923 PMT to Rs 4,575 PMT EBITDA on YoY improved by 41% from Rs 888 PMT to Rs 1,253 PMT PAT rose by 31% to Rs 1,135 crore as compared to Rs 865 crore in Q1FY23 Improvement in Cash & Cash equivalent, which stands at Rs 11,886 crore Company continues to remain Debt Free Ajay Kapur, Whole Time Director & CEO, Ambuja Cements said, “We are delighted to report a strong performance in the first quarter of FY24, with a 9% increase in revenue, 55% increase in EBITDA and 31% increase in PAT compared to the previous year same quarter. Along with the strong demand for our premium cement products, growth was fueled by our various competencies in operational excellence, supply chain management, and sales & marketing excellence. Our synergies with the Adani Group companies are lowering input costs, which is boosting EBITDA growth. Furthermore, our blueprint of improvements through Group synergies and CAPEX for efficiency and decarbonization whilst creating opportunities, will redefine the cement industry landscape. We believe that growth can lead to goodness that inspires us and drives us. When it comes to choosing a path toward growth, we choose the sustainable one. We are proud to be recognized as "India's Most Trusted Cement Brand 2023" by TRA, among "India's Top 50 Most Sustainable Companies" Cross-Sector, and among “India's Top 3 Most Sustainable Cement Companies" by BW Businessworld, as we are dedicated to providing the best for every stakeholder. We have also won numerous awards and accolades for our outstanding work in sustainability, customer service, safety, work culture, and community service. We thank our customers, partners, employees, and shareholders for their trust and support. We are transforming our surrounding communities and reducing our carbon footprint through strategic measures. These include lowering the clinker factor, diminishing energy intensity, implementing Waste Heat Recovery Systems, and augmenting renewable energy generation. Our long-term competitiveness remains robust, ensuring industry-leading profitability as we chase our ambitious growth goals. With a firm belief in our strategic approach, we are poised to continue our trajectory of outstanding performance as we are devoted to sustainable and responsible growth.” Result PDF02-08-2023
