Kiln fuel cost improved from Rs 2.14 per ‘000 kCal to Rs. 1.73 per ‘000 kCal with change of fuel basket and higher consumption of alternative fuels. Thermal value reduced from 757 kCal to 739 kCal, with further improvement expected in future quarters.
While giving a positive outlook, the cement manufacturer said the industry, which accounts for 23% of India’s building material industry, has a strong correlation with India’s GDP growth.
“With a stable government and progressive policies, the Indian economy for FY’25 is expected to grow in the range of 6.5% to 7.0%, with growth in the cement industry likely to grow by 7.0% to 9.0%. An outlay of Rs 11.11 lakh crores for infrastructure projects has been allotted in Budget
FY’25 which represents 3.4% of GDP. Phase IV of PMGSY will be launched to provide all-weather connectivity to 25,000 rural habitations. All these measures are expected to bring buoyancy to cement demand,” it said.
Adani Group’s cement business CEO Ajay Kapur said the strategic decisions, customer-centric approach, and operational excellence continue to drive growth.
“ACC’s performance strengthens our drive to consistently stay a frontrunner in the industry. Our performance this quarter exemplifies our efficiency and agility,” he said.
Ahead of the announcement of the earnings, the company’s shares ended 0.4% lower at Rs 2,603.75 on BSE.