ACC Ltd's net sales rise 6%

ACC Ltd (LafargeHolcim) held its 84th AGM on 6 July via video conference and reporting its net sales in 2019 increased by six per cent to INR153.43bn (US$2.04bn) and its premium range of cement products delivered strong double-digit volume growth.

ACC's ready-mix concrete business with a total of 90 plants continued to record strong growth of 12 per cent in volume terms and 13 per cent revenue growth over previous year. Focussed cost reduction initiatives resulted in operating EBITDA improvement of 18 per cent and profit after tax at INR13,780m, a 35 per cent improvement over the previous year.

Shareholders confirmed the payment of interim dividend at INR14/equity share amounting to INR2629m.