ANNUAL REPORT 2010
This is a special year as ACC completes 75 successful years. A Platinum
Jubilee is a significant milestone that is reserved for special
organizations who wear this mantle not by financial excellence or scale of
operations alone, but by the blessings of enduring relationships with all
the stakeholders they serve. ACC has built India for 75 years in a manner
that its name is now familiar in every part of the country. We can all take
pride in being a part of this great Company. A large part of the credit for
this achievement must go to you the shareholders for your unwavering
commitment to the values this organisation has steadfastly demonstrated.
From the beginning, Your Company has been a pioneer and trendsetter in
cement and concrete, promoting innovative research and product development.
This has made ACC an important benchmark for the Indian cement industry.
The relationships and associations we formed with Ambuja Cements and with
the Holcim Group have offered considerable opportunities for learning and
adapting global best practices.
Today, we cannot imagine the variety and magnitude of the tests and trials
that ACC encountered since its inception. In all these years, the
challenges were many, the journey was difficult, but the spirit was
unfailing. Even the last year we have just been through could have been
daunting as it made the industry grapple with rising input costs and
declining selling prices alongside heightened competition. But Your
Company negotiated these uncertainties effectively to put itself in a
position of strength.
ACC is proud to announce the commissioning of the expanded Wadi 2 kiln in
September 2010. With a daily capacity of 12,500 tonnes, it is said to be
the largest cement kiln worldwide. Another successful project is the new
clinkering line at Chanda in Maharashtra that commenced trial production
in November 2010, which would ultimately result in additional capacity of
about 3 million tonnes per annum. The completion of these two projects puts
ACC on the threshold of achieving 30 million tonnes annually.
With Government retaining a determined focus on infrastructure development
and an optimistic outlook for overall GDP growth, we have no doubt these
will offer a considerable boost to the demand for cement. The future for
Your Company looks bright even as it passes through competitive times. ACC
is poised to grow much faster in coming decades based on its technical
excellence, human resources, brand equity and market growth. As ACC gears
up for another important phase in its growth, I have no doubt the company
will continue to enjoy the same dedication and faith from all its
stakeholders and associates that will inspire it to reach greater heights.