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Ambuja Cements Limited announces CY2018 results

Posted On: 2019-02-19 11:58:53

Ambuja Cements Limited has announced its standalone audited financial results for the quarter and year ended 31st December, 2018.

"We have registered a steady growth in our top-line. In addition, we also have been able to withstand cost volatility during this quarter thanks to accelerating efforts on alternative fuels, optimized fuel mix and plant efficiency improvements. We commissioned our new coal block Gare Palma ahead of schedule, which will help further optimising our fuel mix.

Our well defined marketing and commercial strategies, increased sales of value added premium products and our continued focus on customer engagement has helped improve our reach in core markets. The addition of 4.6 mn tonnes of cement volumes from the Greenfield integrated cement plant at Marwar Mundwa, Rajasthan will further strengthen our position in high-growth core markets of North and Gujarat" said Ajay Kapur, Managing Director and CEO, Ambuja Cement.

Performance

Cement volumes grew 4.4% in Q4' 2018 and 5.4% on a full year basis, top-line grew by 5.8% in the quarter (Q4) and 7.1% on a full year basis. Net profit increased by 58.9% as compared to the corresponding quarter of the previous year. Net Profit for the current quarter and full year ended 2018 includes Rs. 372 crore, towards write back of tax provisions relating to earlier years.

The quarter saw a sharp increase in energy and fuel costs. Efficiency parameters and cost saving initiatives helped to partly mitigate the impact of increasing input cost.

For the full year, the company faced headwinds from rising costs especially for power & fuel, diesel, packing bags (Impacted by increase in crude prices) coupled with volatility in the exchange rates, which were largely mitigated by our continued focus on improving efficiency, fixed cost optimisation, productivity improvements, lower raw material costs and continued focus on alternative fuels.

Shares of AMBUJA CEMENTS LTD. was last trading in BSE at Rs.197.85 as compared to the previous close of Rs. 204.95. The total number of shares traded during the day was 398396 in over 2580 trades.

The stock hit an intraday high of Rs. 204.9 and intraday low of 196.6. The net turnover during the day was Rs. 79455987.


Source: Equity Bulls

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