ACC releases 2017 results

ACC releases 2017 results
09 February 2018

ACC has released its consolidated financial results for the final quarter and full-year period ended 31 December 2017. Cement sales increased 14 per cent in 2017, to 26.21Mt from 22.99Mt of the previous year. Net sales reached INR129bn (US$2bn) in the full-year period, compared to INR107.7bn seen in 2016. Operating EBITDA advanced 29 per cent YoY to INR19.1bn from INR14.7bn.

Cement sales in the 4Q17 registered growth of 27 per cent YoY to INR6.92Mt, backed by a stronger focus on premium products and improved customer service levels. Net sales rose 30 per cent YoY to INR34.1bn from INR26.2bn of the year-ago period.

Despite heightened costs, operating EBITDA showed considerable growth of 54 per cent to INR4.43bn against INR2.87bn of the 4Q16.

"ACC registered robust growth across categories and geographies, with an increased focus on premium products and a targeted approach to customers and markets, delivering strong top-line growth," said Neeraj Akhoury, managing director and CEO, ACC.

"Our performance over the last four quarters demonstrates our ability to remain ahead of the market challenges that have partially impacted both costs and the development of our markets," said Mr Akhoury. 

ACC has adhered to its outlook presented at the start of the year, which highlighted India’s sustained growth trajectory. In the wake of the 2018 budget and the government’s commitment to infrastructural development, the Indian cement industry has a hopeful outlook.

Published under Cement News

Tagged Under: ACC business results India