In fiscal year 2022-2023, ACC recorded revenue of $2.71 billion, up 38% from $1.97 billion in 2021. Cement production output increased 31% to 37.9 million tons, while EBITDA fell 30% to $275 million.
According to the report, CO2 emissions have decreased by 43% compared to the 1990 base year. In 15 months, the enterprise has used 0.82 million tons of materials and substitute materials.
ACC announced the goal of becoming the most profitable cement business in India. To realize this, the Company will implement a three-pronged strategy of expanding capacity, improving efficiency and developing distributor and agent network. In terms of capacity expansion, the manufacturer will double its production capacity through the construction of new cement plants and expansion of the existing ones. In particular, the Group will pay particular attention to securing a supply of renewable energy and complementary cementing materials, including fly ash from its own power plant segment. The company noted that it recently secured access to $1 billion worth of new limestone reserves in Maharashtra, Odisha, Karnataka and Rajasthan. It will also seek to increase coal production to avoid rising import costs.
In fiscal year 2024, the Government of India plans to invest US$11.4 billion in building new housing, road and sanitation infrastructure across the country. Ambuja Cement has forecast an increase in domestic cement consumption from 6-8% to more than 390 million tons/year. It expects India's cement production to increase 8-10% year-on-year to 390 million tonnes in the 2024 financial year.