Moneycontrol PRO
HomeNewsBusinessEarningsACC Q3 results: Net profit jumps nearly five-fold to Rs 538 crore

ACC Q3 results: Net profit jumps nearly five-fold to Rs 538 crore

Earlier this month, ACC acquired the remaining 55 percent stake in Asian Concretes and Cements Private Limited at an enterprise value of Rs 775 crore

January 25, 2024 / 16:06 IST
ACCPL has 1.3 MTPA cement capacity in Nalagarh and subsidiary Asian Fine Cements Pvt Limited has 1.5 MTPA capacity plan in Rajpura.
     
     
    26 Aug, 2025 12:21
    Volume
    Todays L/H
    More

    Cement manufacturer ACC on January 25 reported a 375.10 percent rise in consolidated net profit for the December quarter at Rs 537.63 crore.

    Its revenue came in at Rs 4,914.36 crore, up 8.31 percent over Rs 4,536.97 crore in the same quarter of the previous fiscal, the Adani Group firm said in an exchange filing.

    Earlier this month, ACC said it has acquired the remaining 55 percent stake in Asian Concretes and Cements Private Limited (ACCPL) at an enterprise value of Rs 775 crore, making it a wholly owned subsidiary. This will enable
    further improvement in volume growth in the coming quarters, the company said.

    ACCPL has 1.3 MTPA cement capacity in Nalagarh (Himachal Pradesh), while subsidiary Asian Fine Cements Pvt Limited (AFCPL) has 1.5 MTPA cement capacity in Punjab’s Rajpura.

    "ACC’s financial performance has seen a complete turnaround in the last 12 months. Recent capacity additions have taken the Adani Group’s cement capacity to 77.4 MPTA. This will enable volume and revenue growth on a sustainable basis,” said Ajay Kapur, Whole Time Director & CEO, ACC Limited.

    ACC said its EBIT was at Rs 756 crore for the quarter against Rs 247 crore in the same quarter last year. EBIT margin also improved from 5.5 percent to 15.4 percent.

    In its outlook for the market, ACC said the cement demand in India will continue to grow at 7-8 percent, primarily fuelled by investments in infrastructure and large-scale residential housing projects.

    “This growth aligns strategically with the broader economic development goals of the country, as we move from a $3.5 trillion to $7.3 trillion economy by 2030. Opportunity buy of low cost petcoke will help to further optimise fuel costs in the coming quarters and will augur well in our cost optimisation journey,” said the cement producer.

    Shares of the company closed up 10.81 percent at Rs 2477.80.

     

    Moneycontrol News
    first published: Jan 25, 2024 03:27 pm

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347