Cement major from the Adani Group, Ambuja Cements today reported a subdued or mixed set of Q4 earnings. Ambuja Cement’s Q4 net profit came in at Rs 523.3 crore against Rs 502.5 crore in the same period last year, a jump of 4.2%. The company’s revenue for the quarter ended March 2024 stood at Rs 4,78033 crore against Rs 4,256 crore, a jump of 12.3% on a YoY basis. The company’s margin however dropped 180 bps on a YoY basis to 16.7% against 18.5% in Q4FY23.
Ambuja Cement‘s Q4 results however missed expectations on all parameters. A CNBC-Tv18 poll had predicted net profit to come in at Rs 618 crore, while revenue was expected to surge to Rs 4,795 crore.
“Our impressive financial performance during the year is a testament to the resilience and adaptability of our business model. It mirrors the Indian economy, which has emerged as a bright spot amidst a challenging global economic scenario. We remain steadfast in delivering long-term value and sustainable growth as we soar towards doubling capacities, investment in efficiency improvement, green power, assured supplies of raw-material and fuel,” said Ajay Kapur, Whole Time Director & CEO, Ambuja Cements. Kapur also said that cost optimisation remains core part of their strategy.
The company’s Board of Directors have recommended a dividend on equity shares at Rs. 2.00 per share, which is consistent with last year on annualised basis.
