In the filing given to the exchange on behalf of the Adani group company, it has been told that the company’s net profit has declined by 40.54 percent year-on-year and stood at Rs 235 crore. This compares with the consensus estimate of Rs 338.84 crore from analysts tracked by Bloomberg. The consensus estimate is an estimated earnings forecast for a public company based on the combined estimates of all equity analysts covering the stock.
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ACC FY23 Q4 Results (Consolidated, YoY)
Revenue rose 8.2 percent to Rs 4,790.91 crore, up from Rs 4,426.54 crore, versus Bloomberg’s estimate of Rs 4,680.52 crore. EBITDA declined 26.2 percent to Rs 468.52 crore from Rs 634.66 crore. Analysts had estimated Rs 576.98 crore. The EBITDA margin stood at 9.8 per cent, up from 14.3 per cent earlier, and was estimated at 12.3 per cent. Net profit declined by 40.54 per cent to Rs 235.63 crore as compared to the estimate of Rs 338.84 crore, while it stood at Rs 396.31 crore.
The board has approved a final dividend of Rs 9.25 per share.
According to the filing, due to better planning and better coordination with parent company Ambuja Cements Ltd, blended cement was produced more at the rate of 9 per cent every quarter. It was 8.5 MT. Manpower cost reduced from Rs.262 PMT to Rs.250 PMT quarter on quarter. Kiln fuel cost has been reduced by 10 percent.
Ajay Kapoor, Whole Time Director and Chief Executive Officer, ACC, said, “Strong operational efficiencies, better synergies and business excellence have resulted in significant improvement in our financial performance and across all business indicators. We have a detailed blueprint for each and every cost factor to reduce and improve,” Kapoor said.
Kapoor said, “With this the capex program will again take the company on the path of growth which has been the history of the company.
Explain that Adani Group has reviewed the transactions mentioned in the Hindenburg report through an independent law firm. This review verifies ACC’s compliance with applicable laws and regulations. Shares of the company closed 0.51% higher at Rs 1,747.10 on Thursday, compared with a 0.57% gain in the benchmark NSE Nifty 50. According to Bloomberg data, 30 of 44 analysts tracking the company have ‘Buy’, nine ‘Hold’ and five ‘Sell’ recommendations. Indicates an increase of 28.5 percent to the 12-month consensus price target.
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