“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 optimization, 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 Wave 2 by procuring oxygen concentrators and setting up 7 oxygen plants attached to government hospitals across the country.
Performance
● Net Sales during the quarter increased to ₹ 3,810 Crore, a growth of 51% vs previous year
● EBITDA during the quarter up by 65% vs previous year at ₹ 869 Crore, 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 capitalize on the growth momentum in the ensuing period.
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