Mumbai, Maharashtra, India:  

“The quarter ended March 19 saw a steady growth in top line. On the market side, we have introduced various innovative products to deliver superior experience and to become a preferred partner for our customers. We have also reinforced our rural outreach program with an aim to increase penetration of our product & solutions, thereby supporting our growth in the ensuing quarters.    Ambuja has also increased its capacity to repurpose and utilize waste and grew significantly in that respect versus last year. I am happy that we contribute in this way towards a greener and cleaner India,” said Bimlendra Jha, Managing Director and CEO, Ambuja Cement.   Performance Cement volumes grew 2.4% in Quarter 1 of 2019 while net sales grew by 3% year on year. Sales growth of premium products such as ‘Roof Special’, ‘Cool Walls’ and ‘Pura Sand’ launched recently have seen a double digit growth in January – March 19 over the previous quarter.   Net profit increased by 57% as compared to the corresponding quarter of the previous year. Net Profit for the current quarter includes ACC dividend of Rs. 132 crore.   The quarter saw a significant increase in power and fuel costs year on year, however our continued focus on the use of alternative fuels helped to partly mitigate this impact. Capacity utilization improved during the quarter. Distribution costs improved due to cost mitigation initiatives. Selling General and Administrative expenses (SG&A) also declined on a year on year basis.   Performance of Material Subsidiary – ACC Limited   Net Sales during the quarter went up by 8% to Rs. 3850 Crore compared to Rs. 3557 Crore for the same quarter last year. Operating EBITDA for the quarter registered a growth of 8% to Rs. 532 Crore as against Rs. 492 Crore during the same quarter of the previous year.   Consolidated (Ambuja Cement and ACC Limited) Financial Results for the Quarter ended 31st March 2019

Q1 Consolidated PAT after non-controlling interest up by 27% 

The combined annual cement capacity of both the companies stands at 63 million tonnes.   Outlook   We expect economy to grow strongly, based on Reserve Bank of India’s repo rate cut to boost private investment and an increase in disposable incomes of households due to tax benefits. Government’s thrust and higher outlays on infrastructure and affordable housing apart from reduction in rates for under-construction flats should further accelerate construction activity and spur cement demand.