Adani Group’s ACC Limited logs highest-ever annualised PAT at Rs 2,337 crore in FY24

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Adani Group’s ACC Limited Logs Highest-Ever Annualised PAT At Rs 2,337 Crore ...

Adani Group’s ACC Limited Logs Highest-Ever Annualised PAT At Rs 2,337 Crore In FY24

by Utkalika Mohanty

NEWS HIGHLIGHTS

ACC Limited, a subsidiary of Ambuja Cements, on Thursday announced lifetime high annualised profit after tax (PAT) at Rs 2,337 crore in FY24, up a staggering 378 per cent (year-on-year).

Ahmedabad, Apr 25: ACC Limited, a subsidiary of Ambuja Cements, on Thursday announced lifetime high annualised profit after tax (PAT) at Rs 2,337 crore in FY24, up a staggering 378 per cent (year-on-year).

Part of the diversified Adani Group, ACC Limited registered operating EBITDA at Rs 837 crore for the fourth quarter (Q4) ended March 31, up 79 per cent.

The company attributed the improved performance for the fourth quarter and full year to an all-around improvement in volume, cost and efficiency parameters.

“We continue to solidify our position as a frontrunner in the cement industry. Our financial performance with a jump in EBITDA by 138 per cent during the year is a testament to the flexibility and strong foundation of our business model,” said Ajay Kapur, Whole Time Director and CEO, ACC Limited.

For the fourth quarter of FY24, the company registered PAT at Rs 945 crore, marking a three-time surge YoY.

In the context of the ongoing capex and growth plans of the company, the Board recommended a dividend on equity shares at Rs 7.50 per share, consistent with last year's dividend on a 12-month basis.

According to the company, its kiln fuel cost improved with a change of fuel basket and higher consumption of alternative fuel.

“The work on waste heat recovery system (WHRS) facilities at Chanda (18 MW) and Wadi (21.5 MW) is on track and will be commissioned in Q2 this year, which will help take the total capacity to 86 MW or 25 per cent of total power,” the company informed.

Moreover, the ongoing green power initiatives of the company will help achieve 60 per cent green power by 2028, reduce cost, improve EBITDA, and accelerate its ‘SDP Plan 2030’.

ACC Limited has 20 cement manufacturing sites, over 86 concrete plants, and a nationwide network of channel partners to serve its customers.

(IANS)

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"Odisha Govt Deprived People Of Central Health, Housing Benefits": Nadda Slams CM Naveen Patnaik

by Hemanta Pande

Bhubaneswar, May 5: BJP national president JP Nadda on Sunday launched a scathing attack on the Naveen Patnaik-led Odisha government, saying, for political reasons, the Odisha government deprived its people of the health and housing security provided by the Central government.

After releasing BJP's manifesto for Odisha assembly elections JP Nadda said, "Schemes like PM AWAS Yojana and Ayushman Bharat Yojana, which have helped millions of people across the country, were not implemented here in Odisha. For political reasons, the state government of Odisha deprived its people of the health and housing security provided by the Central government."

He accused the Biju Janata Dal (BJD) of not fulfilling their promises, low income for farmers, poor education, and increasing violence against women.

"Promises made by the BJD still remain unfulfilled. Not only do farmers lack water for irrigation, but the earnings of farmers in Odisha are the lowest in the entire country. The school and university education system in Odisha are in a dire state. Violence against women is ever-increasing in the state, and what's worse is that leaders of the BJD are involved in these crimes," he said.

"Today, the income of farmers in Odisha is the lowest, and the migration of people from here is also the highest. The condition of education is bad and Odisha ranks number one in harassment of women. Corruption and theft have become common here," he added.

He mentioned that the BJP will construct Odisha Bhawan in every metro city and provide an annual allowance of Rs 10,000 per fisherman during the lean period.

"Odisha Bhawan will be built in every metro city. In the coming 3 years, we will create 25 lakh Lakhpati Didi. For fishermen, annual lean period allowance of Rs 10,000 will be given per fisherman," he said.

"We will build 15 lakh houses under the PM Awas Yojana. Under the Jal Jeevan Mission, tap water will be provided to every house in 26 lakh houses," he said.

The Assembly elections will be held in Odisha in four phases, from May 13 to June 1, along with the Lok Sabha elections. The counting of votes will be held on June 4. (ANI)

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Dharmendra Pradhan Holds Roadshow, Seeks Votes For Party Candidate From Rairakhol Assembly Seat

by Hemanta Pande

Sambalpur, May 5: Amidst a sea of cheering supporters, Union Minister and BJP Lok Sabha candidate from Sambalpur, Dharmendra Pradhan participated in a roadshow of BJP's assembly candidate from Rairakhol constituency, Debendra Mohapatra, before the latter's nomination.

Pradhan along with the Debendra Mohapatra boarded an open vehicle, adorned with party banners and flags. They were surrounded by thousands of enthusiastic locals and party workers who shouted slogans like 'Abki bar, 400 par'.

Later, while speaking to ANI Pradhan said, "PM Modi will come to Odisha today for elections. He will reach Bhubaneswar in the evening. Tomorrow, he will address two gatherings...There is a mood for transformation in the state...BJP will form the govt in both Odisha and the centre."

He said, "Odisha's Sankalp Patra was launched by BJP national president JP Nadda. I express my gratitude to him. He has made a historic announcement for the farmers of Odisha...BJP is committed to making it a number-one state..."

Pradhan had said that the BJP which is fighting against Naveen Patnaik's Biju Janata Dal (BJD) in both the Assembly and Lok Sabha elections held simultaneously in Odisha, has appealed to the people to give the party an opportunity to serve them.

"BJP is going with an appeal to the people...PM has appealed to the people of Odisha to give us an opportunity to serve them...," Pradhan said.

Also Read: JP Nadda Releases BJP's Election Manifesto For Odisha Assembly Elections 2024

BJP national president JP Nadda on Sunday released the party's manifesto for the Odisha assembly elections 2024 and vowed to end corruption of Biju Janata Dal.

" Our goal is 'from resolution to accomplishment'...we will fulfil our commitments...it (Manifesto) is not a document, it is our implementation programme for the next 5 years. The day we make government, a sub-committee is made for the manifesto and every month we monitor our manifesto...Our goal will be to end the corruption of BJD, we will have zero tolerance towards corruption," Nadda said.

Earlier on Thursday, Pradhan filed his nomination from Odisha's Sambalpur constituency. The Assembly and Lok Sabha elections in the state are to be held simultaneously in four phases, starting May 13.