ACC creates new milestones and delivers another quarter of strong performance
Consolidated Financial Results for first quarter (January-March) 2021
|Quarter Jan-Mar 2021||Quarter Jan-Mar 2020||Quarter Jan-Mar 2019|
|Sales Volume – Cement||Million Tonnes||7.97||6.56||7.46|
|Sales Volume – Ready Mix Concrete||Million Cubic metres||0.83||0.93||0.94|
|Operating EBIT Margin||%||17.0%||12.5%||10.0%|
|Profit before Tax||₹Crore||754||476||523|
|Profit after Tax||₹Crore||563||323||346|
“In the given situation, our priority remains the safety and wellbeing of employees and extended communities. Health, Cost and Cash will continue to be our key focus in the coming quarters.
This quarter, we delivered highest ever revenue and operating EBIT. Our cost efficiency project ‘Parvat’ is on track and has helped in managing some continuing cost headwinds.
The grinding unit expansion in Sindri was completed in record time and is fully operational. The execution of our Greenfield growth project in Ametha and associated grinding units is progressing as per plan. Additionally, our efficiency projects such as Waste Heat Recovery are on track.
During this quarter, we launched the green concrete “ECOPact“, which is a major milestone in our journey of innovation and sustainability.
We have demonstrated strong resilience which has been reflected in our performance this quarter. We aim to continue driving the four stated strategic priorities: Performance, Growth, Innovation and Sustainability.” said Sridhar Balakrishnan, Managing Director and CEO.
Covid 19 Update
Health and safety continues to be our key priority. We are facilitating the option of our employees and contract workmen to get vaccinated. Almost 70% of our eligible employees have been vaccinated. We are ensuring strict adherence to government guidelines across our plants and offices. Adequate infrastructure has been put in place to ensure our employees are safe and get the required medical support. We are closely monitoring the situation and will continue to take all necessary actions to ensure the health and safety of our employees and communities.
- Net Sales during the quarter increased to ₹ 4213 Crore compared to ₹ 3433 Crore last year, a growth of 23%
- EBITDA during the quarter up by 47% vs previous year at ₹ 860 Crore
- EBITDA margin for the quarter expanded by 330 basis points vs previous year
- Strong delivery on premium products
The Company believes that the Government is taking all possible steps to intensify the vaccination program and control the spread of Covid. With Government’s increased spending and its strong focus on infrastructure development, we maintain a cautious yet positive outlook for overall cement demand in the coming months.