Ambuja Cements, a prominent player in the cement industry, has announced a robust financial performance for the fourth quarter of FY24, with a notable 6% year-on-year increase in net profit. The company reported a net profit of Rs 532.29 crore in Q4, compared to Rs 502.40 crore in the same period a year ago.
In a significant leap, Ambuja Cements posted a consolidated net profit of Rs 1,525.78 crore in Q4 FY24, marking a staggering 100% surge compared to Rs 763.30 crore in the corresponding quarter of the previous fiscal year.
The company’s revenue witnessed a commendable growth of 12.3% on year, reaching Rs 4,780.32 crore in the last quarter of FY24, compared to Rs 4,256.31 crore reported in Q4 FY23.
In line with its commitment to shareholders, Ambuja Cements declared a dividend of Rs 2 per equity share for the financial year 2023-24, subject to approval by shareholders.
Ajay Kapur, Whole Time Director & CEO of Ambuja Cements, attributed the impressive financial performance to the resilience and adaptability of the company’s business model. Kapur emphasized Ambuja Cements’ role in supporting the Indian economy’s growth trajectory amidst a challenging global economic landscape.
He highlighted the company’s strategic focus on capacity expansion, operational efficiency, and decarbonization initiatives, which have yielded significant results. Cost optimization remains a core component of Ambuja Cements’ strategy, ensuring sustainable growth and long-term value creation.
Adani Group’s flagship cement company demonstrated robust operational performance, with EBITDA per metric ton (PMT) growing by Rs 149, marking a 17% increase year-on-year. Additionally, the company’s margin expanded by 3.5 percentage points.
Ambuja Cements generated Rs 1,945 crore in cash flows from operations in Q4 FY24 and Rs 5,646 crore for the entire fiscal year, reflecting its strong operational capabilities and financial prudence.
The company’s impressive financial results underscore its position as a leading player in the cement industry, committed to driving growth, efficiency, and sustainability in line with India’s development journey.
