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Mumbai (Maharashtra) [India], July 15 (ANI/BusinessWire India): ACC continues its journey of capacity growth. The Ametha integrated project is on track, the integrated unit at Ametha will be commissioned in Q4 2022. Land acquisition and other actions for the grinding unit project at SalaiBanwa are progressing as per schedule.
April - June Quarter 2022 - Ametha project to add ~5 MTPA capacity progressing as per schedule; Integrated unit to be commissioned in Q4 2022- Waste heat recovery projects at Jamul and Kymore plants are on track for commissioning in Q3 2022; Orders placed for the next wave of projects at Chanda and Wadi plants- Strong volume growth of 10.5 per cent vs previous year during the quarter- EBITDA at Rs 426 Crore lower by 51 per cent vs previous year due to the significant impact of fuel cost increase despite strong efficiencies delivered under project 'Parvat' "The April to June 2022 quarter was impacted by rising global fuel costs and related inflationary impacts. We were able to mitigate part of this impact through our efficiency project 'Parvat'. The cost reduction journey will be further accelerated with the commissioning of waste heat recovery projects in Jamul, Kymore and Ametha plants taking the share of green power to 15 per cent. Sustainability continues to be one of our key focus areas. ACC is committed to making a tangible difference in the areas of carbon footprint reduction, protection of natural resources, and enabling progress and welfare of our communities through our various initiatives. I am pleased to inform that our '#ChangeTheStory' campaign, which seeks to free our water bodies of plastic waste, has been widely appreciated at multiple forums. I am confident that with all the projects that are underway, we will continue to deliver strongly on all our strategic priorities," said Sridhar Balakrishnan, Managing Director and CEO. Performance- Net Sales during the quarter increased by 15 per cent to Rs 4,393 Crore compared to Rs. 3,810 Crore last year- Profit after tax at Rs 227 Crore, 60 per cent lower vs the previous year- 'Parvat' journey with rigour on the improvement of efficiency levers continues.- Cash and Cash Equivalent stood at Rs 4,517 Crore as of June 30, 2022. Outlook The government's concerted efforts to stimulate investment across several sectors will have a favourable impact on improving the overall economic environment in the country. Prediction of a normal monsoon will augur well for the rural economy. We maintain a positive outlook for demand in the coming months. This story is provided by BusinessWire India. ANI will not be responsible in any way for the content of this article. (ANI/BusinessWire India)
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