Ambuja Cements, the cement and building materials brand Adani Group, today announced their standalone and consolidated financial results for Q4 and full year ended March 31, 2024. The company delivered a strong performance across all key metrics.
Ambuja Cements reported a significant jump in its annualized Profit After Tax (PAT) by 119 percent year-over-year, reaching Rs 4,738 crore. Operating EBITDA, a measure of profitability, also witnessed a substantial increase. For the full financial year (FY 24), Operating EBITDA surged by 73 percent to Rs 6,400 crore. This positive trend continued in Q4, with Operating EBITDA rising 37 percent year-on-year to Rs 1,699 crore.
The company’s financial health remains robust. Ambuja Cements maintains a strong cash position, with cash and cash equivalents reaching Rs 24,338 crore. Additionally, the company maintains a nil debt position and boasts impressive credit ratings of Crisil AAA (stable) / Crisil A1+.
This financial strength is further strengthened by the recent inflow of Rs 8,339 crore from warrants received in April 2024. This, combined with Ambuja’s efficient working capital management reflected in its standalone business cycle of just 16 days, positions the company for accelerated growth in the future.
“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. We continue to play a vital role in the nation’s growth story,” said Ajay Kapur, Whole Time Director and CEO, Ambuja Cements.
“Our growth blueprint implemented in the previous year towards capacity-building through organic and inorganic way, operational efficiency, and decarbonisation measures are yielding excellent results. Cost optimisation remains core part of our strategy,” Kapur added.