Cement News tagged under: ACC

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ACC reports 375% surge in PAT

26 January 2024, Published under Cement News

India’s ACC Ltd has reported a 139 per cent YoY leap in operating EBITDA to INR9050m (US$108.87m) in the 3QFY23-24. Profit after tax over the same period has advanced by 375 per cent to INR5380m. According to the company, the “robust” results are due to “a sharp growth in volume and improvement of important KPIs.” Revenue for the 3QFY23-24 stood at INR49,140m, up from INR45,370m in the same period a year earlier, while earnings per share improved from INR6.01 in the 3QFY22-23 to INR28.55 i...

ACC acquires Asian Concretes and Cements

08 January 2024, Published under Cement News

ACC Ltd , a subsidiary of Ambuja Cements Ltd , has announced that it is acquiring a 55 per cent stake in Asian Concretes and Cements Pvt Ltd (ACCPL) for an enterprise value of INR7750m (US$93.3m). ACC currently holds a 45 per cent stake in ACCPL so this latest deal gives ACC entire ownership of ACCPL, increasing ACC’s cement production capacity to 38.55Mta.  ACCPL runs 1.3Mta of cement capacity in Nalagarh, Himachal Pradesh, while its subsidiary, Asian Fine Cements Pvt Ltd (AFCPL) has...

ACC Ltd reports YoY rise in revenue

27 October 2023, Published under Cement News

India’s ACC Ltd has reported total income of INR46,425.3m (US$557.7m) in the quarter ended 30 September 2023, down from INR52,793.5m in the previous quarter but up from INR40,561.6m in the same period a year earlier. Profit after tax came in at INR3842.9m in the September 2023 quarter, compared to a INR4639.3m profit in the previous quarter but a loss of INR910.9m in the September 2022 quarter. Total expenses in the quarter ended 30 September 2023 came in at INR41,269.5m, down from INR4...

Adani reduces use of wholesalers

10 October 2023, Published under Cement News

In a bid to boost profitability, Ambuja Cements Ltd and ACC Ltd has reduced the number of distributors it uses in the Gujarat region of India from 12 to three. The move is part of a trial by the Adani Group to reduce its reliance on distributors or wholesalers, reports Live Mint. According to local sources, the cement producers plan to build stronger relationships with retailers, the last point of sales for cement. For large bulk projects, such as a flyover, sales will also now be h...

ACC commences production at Ametha plant

15 September 2023, Published under Cement News

ACC , part of the Adani Group , has begun clinker production at its new Ametha cement plant in Madhya Pradesh, India, reports Business Line. The integrated works has a 3.3Mta clinker capacity and 1Mta cement capacity. The greenfield project takes ACC’s overall cement production capacity to 37Mta. It also boasts a 16.3MW waste heat recovery system and has the potential to use up to 15 per cent alternative fuels and raw materials.   According to Ajay Kapur, CEO of the cement busines...

ACC reports revenue of US$2706m

29 June 2023, Published under Cement News

Indian cement producer ACC Ltd has reported revenue from operations of INR222,100m (US$2706m) in FY22-23. EBITDA came in at INR22,560m, while profit after tax stood at INR8700m. The company has changed its financial year end so these latest results cover 1 January 2022 to 31 March 2023, a total of 15 months, so are therefore not comparable with the figures for the 12 months ended 31 December 2021. Profit before tax was reported as INR11,820m while earnings per share were INR46 over the sam...

Adani Group rebuilds investor confidence

27 June 2023, Published under Cement News

The Adani Group, which owns Ambuja Cements and ACC Ltd , is reportedly targeting 20 per cent YoY growth in pretax profits to INR900,000m (US$10,971m) within the next 2-3 years. According to Live Mint, the growth is expected to come from various sectors, including cement, airports, energy, logistics and power. The group has recently repaid loans amounting to US$2.65bn as part of a prepayment programme to reduce overall leverage and regain investor confidence following a negative report by ...

Ambuja Cements and ACC scoop sustainability awards

26 June 2023, Published under Cement News

Ambuja Cements and ACC , part of the Adani Group , have been recognised among ‘India's Top 50 Most Sustainable Companies’ by BW Businessworld. Ambuja Cements has also been named among ‘India’s Top 3 Most Sustainable Companies in the Infrastructure and Engineering Sector’ on the back of its “dedication to sustainability and outstanding success”, according to the company. Ajay Kapur, CEO, cement business, said, “We are immensely proud that both Ambuja and ACC have been recognised among...

Adani Group in talks with more lenders over acquisition loan

21 June 2023, Published under Cement News

The Adani Group is reportedly in talks with at least five new international banks regarding its refinancing of US$3.8bn of loans taken for its acquisition of ACC Limited and Ambuja Cement in 2022. According to The Economic Times, the majority of the group’s existing lenders, including Standard Chartered, Barclays and Deutsche Bank, will also participate in the refinancing round. The group has reportedly begun discussions with two Taiwanese banks and a Malaysian bank among others to exp...

Adani Group in talks to refinance loan

14 June 2023, Published under Cement News

India's Adani Group is in talks with lenders to refinance up to US$3.8bn of a loan facility taken for its acquisition of Ambuja Cements Ltd last year, according to Bloomberg News. The group is reportedly deciding whether to convert the original loan into debt with a longer maturity period. Although the deal is yet to be finalised, Bloomberg News says the group is expected to conclude the process within four months with most of its existing lenders, including Barclays Plc, Deutsche Ba...