Cement and building materials leader ACC Ltd, part of the diversified Adani Group, on Thursday reported the highest quarterly revenue at Rs 4,614 crore, up 4 per cent (year-on-year).
The company clocked volume growth of 15 per cent (year-on-year), at 9.3 million tonnes – the highest volume in Q2 series in the last 5 years.
Operating EBITDA was at Rs 436 crore while net worth increased to Rs 16,725 crore, according to ACC Ltd, a subsidiary of Ambuja Cements.
"Our performance in Q2 reinforces our standing as a frontrunner in the cement industry. Our financial results this quarter – fuelled by higher volumes, cost optimisation, increasing efficiencies, and agility – build the momentum for our growth strategy for FY25 and beyond," ACC Ltd Whole Time Director and CEO Ajay Kapur said.
"Our growth is being driven by robust demand for high-quality cement products across all markets, as well as our continuous efforts to optimise operations and lead on all ESG parameters," he added.
Overall, the cement industry expects an improvement in demand in H2 FY25, which is likely to be driven by the post-monsoon pickup in construction and housing activity. The government’s continued focus on infrastructure development - roads, highways, railways, and metros – will continue to remain the key demand driver.
"We expect cement demand to register growth of 4-5 per cent during FY 25," said the company.
"Our leadership status is highlighted in our drive for operational excellence supported by innovation, sustainability, and a customer-centric approach. We continue to deliver strong value for our stakeholders as we aim for sustained profitability through our competitive advantage."
In Q1 FY25, the cement and building materials leader reported sustainable performance with an operating EBITDA of Rs 679 crore. Ambuja and ACC are the only two cement companies in India undergoing net zero target validation from the Science Based Targets initiative.
"We continue to deliver strong value for our stakeholders as we aim for sustained profitability through our competitive advantage," said Kapur.
Sri Lankan Navy arrests 32 Tamil fishermen, five boats seized
The Sri Lankan Navy has arrested 32 fishermen from Rameswaram in Tamil Nadu for allegedly crossing the International Maritime Boundary Line (IMBL) and fishing in Lankan waters.
Adani Portfolio's tax contributions reach Rs 58,104 crore for FY 2023-24
The Adani Group's total global tax and other contributions to the exchequer amounted to Rs 58,104.4 crore for the financial year 2023-24, showcasing a significant increase from the previous year's Rs 46,610.2 crore through its portfolio of listed entities, the company said on Sunday.
Mann Ki Baat: PM Modi hails ISRO's century in rocket launches, urges people to dedicate a day for science
Addressing the 119th episode of his monthly radio programme, 'Mann Ki Baat', on Sunday, Prime Minister Narendra Modi hailed the Indian Space Research Organisation, saying it has hit the century in space. Last month, the country witnessed the ISRO's 100th rocket launch.
Mizoram student stabbed to death in Kerala, batchmate arrested
A 22-year-old BTech student from Mizoram was stabbed to death near his college in Thiruvananthapuram. The deceased, Valentine, was a student at Rajadhani Institute of Engineering & Technology, Nagaroor.
Italy PM slams Left's double standards, says when Trump, Meloni, Modi talk, they are called threat to democracy
Italian Prime Minister Giorgia Meloni has accused left-wing politicians of being "nervous" over former US President Donald Trump's victory, claiming that conservatives are unfairly labelled as a "threat to democracy" while leftist leaders are celebrated for similar global alliances.
NDRF intensifies rescue operation to save 8 trapped in Telangana tunnel
National Disaster Response Force (NDRF) teams on Sunday intensified rescue efforts to save eight persons trapped in an under-construction tunnel after a portion of its roof collapsed in Telangana’s Nagarkurnool district on February 22.
Israel delays Palestinian prisoner release after 'humiliating' hostage handovers
Israeli Prime Minister Benjamin Netanyahu announced on Sunday that the release of Palestinian prisoners would be delayed until Hamas ceases its "humiliating ceremonies" during the release of Israeli hostages under the ceasefire deal.
PM Modi on 3-day visit to MP, Bihar, Assam from today
Prime Minister Narendra Modi will visit Madhya Pradesh, Bihar and Assam from February 23 to 25 to participate in several developmental projects and inaugurate business summits.