Gautam Adani has recently bought the business – ACC Q2 Results Cement maker posts surprise quarterly loss on higher expenses after adani group takeover tutd

The September quarter figures of cement company ACC Cement have surprised everyone. The company has incurred a loss of Rs 91 crore in the July-September quarter on an annual basis. In the same quarter last year, the company had achieved a net profit of Rs 449 crore. If we talk about the June quarter, then the company had a net profit of Rs 222 crore. Analysts had estimated profit of Rs 133 crore in their report for the September quarter. Adani Group has recently acquired ACC Cement.

increase in sales

The sales of the company have increased on a yearly basis. The ACC said in a stock exchange filing that net sales grew 7 per cent year-on-year (YoY) to Rs 3,910 crore. However, the company’s Ebitda was Rs 16 crore as against 712 crore.

Why did the company suffer?

Ebitda is the profit that the company earns before deducting Interest, Tax, Depreciation and Amortization. This earnings of ACC Cement has been affected due to the huge increase in the cost of fuel. The company’s Ebitda margin came to 0.4 percent, while it was being estimated that it could remain up to 6 percent.

Acquisition of two cement companies

In May this year, the Adani Group won the race to buy Swiss firm Holcim’s India business for $10.5 billion (Rs 81,361 crore). Holcim held 63.19 per cent in Ambuja Cements and 4.48 per cent in ACC. After the completion of this deal, Adani acquired 63.15 per cent stake in Ambuja Cements and 56.69 per cent stake in ACC (50.05 per cent through Ambuja Cements.

ACC is one of the leading cement companies in India producing ready-mix concrete. The company has more than 83 concrete plants.

ACC Cement shares fall

ACC Cement shares are seeing a decline in the stock market. The company’s shares are trading at 2,229 with a decline of 1.81 percent. On the other hand, the shares of Adani Enterprises are seeing a rise. Shares of Adani Enterprises are trading at 3,278 with a gain of 2.06 per cent today.

Source link

About admin

Check Also

Gold vs Silver: Buy Gold or Silver this Dhanteras? What will be the profit deal – Gold vs silver What should you buy this Diwali Dhanteras 2022 tuta

In our country, it is considered auspicious to buy gold and silver on the occasion …

Leave a Reply

Your email address will not be published. Required fields are marked *