Gautam Adani’s company suffered a big loss, experts expected huge profits

Recently Gautam Adani (Gautam Adani) Ambuja Cement (Ambuja Cement) and had announced the completion of the acquisition of the business of ACC Cement. Now in the second quarter of the current financial year, the results of ACC Cement have surprised everyone. The company has incurred a loss of Rs 91 crore in the July-September quarter (ACC Q2 Result). People are surprised because in the same quarter last year, the company had a net profit of Rs 449 crore. Not only this, in the first quarter of this year i.e. April-June quarter also, the company had a profit of Rs 222 crore.

133 crore profit was estimated

The ACC results have proved the reports of all the analysts wrong. All analysts had estimated that the company could have a net profit of around Rs 133 crore in this quarter. At the same time, the results are showing that the company has suffered a loss of Rs 91 crore, which has surprised everyone. Interestingly, the company’s sales have increased by about 7 percent on an annual basis and the sales have gone up to Rs 3,910 crore.

Then why did the company suffer?

The reason for the loss to the company is fuel. Due to the increase in the cost of fuel, the company’s profits have been affected. The EBITDA margin of the company has come to only Rs 16 crore as against Rs 712 crore. It was estimated that it may remain 6 percent, but the EBITDA margin has come to only 0.4 percent. Explain that EBITDA is the profit which is calculated before deducting Interest, Tax, Depreciation and Amortization.

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ACC shares fall

After the results, there was a fall in the shares of ACC Cement in the stock market. The company’s shares closed at Rs 2,219, down about 2 per cent on Tuesday. However, on the very next day on Wednesday, the company’s shares have again reached the green mark. By noon, the company’s shares were seeing a rise of about 1 percent.

Recently, steps have been taken in the cement sector

In May this year, the Adani Group bought Ambuja Cements Ltd and ACC Ltd from Holcim Ltd of Switzerland. Recently this deal has been completed, which has been done for $ 10.5 billion (about Rs 81,361 crore). Adani Group acquired 63.19 per cent stake in Ambuja Cements Ltd. and its subsidiary ACC Cement in an overwhelming bid. With this, the Adani Group has now become the second largest cement producer in India.

Ambuja and ACC have a cement production capacity of at least 70 million tonnes per annum, second only to Ultratech Cement with 120 million tonnes capacity. Ambuja Cement has 14 cement plants, which employ 4,700 people. ACC has 17 cement plants and 78 ready mix concrete factories and employs 6,000 people.

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