ACC delivers strong performance in a challenging quarter

20 Jul 2021 CW Team

Consolidated Financial Results for second quarter (April-June) 2021

		Quarter Apr-Jun 2021	Quarter Apr-Jun 2020	Half Year Jan-Jun 2021	Half Year Jan-Jun 2020
Sales Volume – Cement	Million Tonnes	6.84	4.76	14.81	11.32
Sales Volume – Ready Mix Concrete	Million Cubic metres	0.58	0.15	1.41	1.07
Net Sales	₹Crore	3,810	2,520	8,024	5,953
EBITDA	₹Crore	869	525	1,730	1,112
EBITDA Margin	%	22.8	20.8	21.6	18.7
Operating EBIT	₹Crore	723	363	1,440	791
Operating EBIT Margin	%	19.0	14.4	17.9	13.3
Profit before Tax	₹Crore	758	403	1,513	879
Profit after Tax	₹Crore	569	271	1,132	594

“I am proud of the way team ACC has recorded very good performance this quarter. With a strong focus on supply chain efficiencies and cost optimisation, the company has emerged stronger and more resilient. Waste Heat Recovery System projects at various sites are progressing well. The large cement capacity expansion project at Ametha in Madhya Pradesh has commenced.

At the forefront of green building solutions, our parent company has been recently rebranded as Holcim. This new chapter of our journey to become the global leader in innovative and sustainable building solutions is very relevant to ACC. We have started our transformation journey to offer sustainable building materials and solutions in India. We continue to focus on new product developments to launch green, value-added and innovative products such as ECOPact.” said Sridhar Balakrishnan, Managing Director and CEO.

Covid 19 Update
Health and safety remains our key priority. We encouraged all our employees, their families and our communities to actively participate in the vaccination drive. We are ensuring strict adherence to government guidelines and Covid appropriate behavior across our locations. Adequate infrastructure and medical support are made available to ensure safety of our employees. Our team continuously monitors the situation and takes proactive steps to ensure the health and safety of our employees and communities. We also supplemented medical infrastructure at the onset of the second wave by procuring oxygen concentrators and setting up seven oxygen plants attached to government hospitals across the country.

Performance

Net Sales during the quarter increased to Rs 3,810 cr, a growth of 51% vs previous year
EBITDA during the quarter up by 65% vs previous year at Rs 869 cr, with an EBITDA margin expansion of 200 basis points
Strong delivery on cost efficiency actions under project ‘Parvat’ across cost levers
Healthy working capital despite volatility due to second wave of Covid 19

Outlook

We strongly believe in the resilience of the Indian economy as it continues to navigate the impact of Covid 19. Demand is expected to recover supported strongly by Government’s increased spending on large scale infrastructure projects which augurs well for the cement sector. We believe we are well poised to capitalise on the growth momentum in the ensuing period.

Consolidated Financial Results for second quarter (April-June) 2021QuarterApr-Jun2021QuarterApr-Jun2020Half YearJan-Jun2021Half YearJan-Jun2020Sales Volume – CementMillion Tonnes6.844.7614.8111.32Sales Volume – Ready Mix ConcreteMillion Cubic metres0.580.151.411.07Net Sales₹Crore3,8102,5208,0245,953EBITDA ₹Crore8695251,7301,112EBITDA Margin%22.820.821.618.7Operating EBIT₹Crore7233631,440791Operating EBIT Margin%19.014.417.913.3Profit before Tax₹Crore7584031,513879Profit after Tax₹Crore5692711,132594 “I am proud of the way team ACC has recorded very good performance this quarter. With a strong focus on supply chain efficiencies and cost optimisation, the company has emerged stronger and more resilient. Waste Heat Recovery System projects at various sites are progressing well. The large cement capacity expansion project at Ametha in Madhya Pradesh has commenced. At the forefront of green building solutions, our parent company has been recently rebranded as Holcim. This new chapter of our journey to become the global leader in innovative and sustainable building solutions is very relevant to ACC. We have started our transformation journey to offer sustainable building materials and solutions in India. We continue to focus on new product developments to launch green, value-added and innovative products such as ECOPact.” said Sridhar Balakrishnan, Managing Director and CEO. Covid 19 Update Health and safety remains our key priority. We encouraged all our employees, their families and our communities to actively participate in the vaccination drive. We are ensuring strict adherence to government guidelines and Covid appropriate behavior across our locations. Adequate infrastructure and medical support are made available to ensure safety of our employees. Our team continuously monitors the situation and takes proactive steps to ensure the health and safety of our employees and communities. We also supplemented medical infrastructure at the onset of the second wave by procuring oxygen concentrators and setting up seven oxygen plants attached to government hospitals across the country. PerformanceNet Sales during the quarter increased to Rs 3,810 cr, a growth of 51% vs previous yearEBITDA during the quarter up by 65% vs previous year at Rs 869 cr, with an EBITDA margin expansion of 200 basis pointsStrong delivery on cost efficiency actions under project ‘Parvat’ across cost levers Healthy working capital despite volatility due to second wave of Covid 19 Outlook We strongly believe in the resilience of the Indian economy as it continues to navigate the impact of Covid 19. Demand is expected to recover supported strongly by Government’s increased spending on large scale infrastructure projects which augurs well for the cement sector. We believe we are well poised to capitalise on the growth momentum in the ensuing period.

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