Ambuja Cement Q3 Results Review - Better Performance Expected In Subsequent Quarters : Nirmal Bang

Nirmal Bang Report

Ambuja Cements Ltd.'s Q3 FY24 performance recorded revenue of Rs 81.3 billion, up 2.8% YoY, with volume reaching 14.1million tonne, up by 2.9% YoY. However, challenges were noted, as 12% of the company’s clinker capacity (standalone) was under planned maintenance and one of the plants experienced a breakdown, impacting clinker production for the quarter.

Ambuja Cements capacity utilisation stood at 77%. Demand has significantly picked up from January’24 and is expected to maintain this momentum in the near term. Operating cost/tonne in Q3 FY24 stood at Rs 4,537, down 9.7% YoY. Power and fuel costs saw a substantial decline of 21% YoY at Rs 1,359/tonne, which was attributed to fuel mix optimization and maximisation of AFR consumption.

Organisational restructuring contributed to 15.4% YoY drop in employee costs to Rs 227/tonne. Cement realisation stood at Rs 5,765/tonne, remaining flat YoY.

Absolute Ebitda stood at Rs 17.3 billion, up 69.6% YoY, with Ebitda/tonne coming in at Rs 1,228, up by 64.8% YoY. Adj profit after tax surged to Rs 10.8 billion, up 73.5% YoY.

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