ACC net doubles to Rs 358 cr

BS 200 SCORECARD

Cement major ACC has posted an increase of 106.7 per cent in its net profit at Rs 358.46 crore for the quarter ended December 2006 compared with Rs 173.45 crore clocked in the corresponding quarter last year. During the period under review, sales turnover grew to Rs 1,619.9 crore from Rs 1,078.37 crore, up 50.2 per cent.

However, since Tarmac (India) was merged with the company with effect from January 1, 2006, the figures are not comparable with those of the last financial year.

Operating profit stood at Rs 526.56 crore as against Rs 191.9 crore. Earning per share (EPS) was at Rs 19.15 compared with Rs 10.46 during the year-ago period.

The company's net profit for the financial year ending December 31, 2006, rose by 73.57 per cent to Rs 1,231.84 crore from Rs 709.7 crore in the previous financial year. Total Income (net of excise) rose to Rs 5,934.96 crore compared with Rs 4,445.68 crore for the previous year, up 33.5 per cent.

During the last two years, ACC has divested certain non-core businesses and merged cement businesses of its subsidiaries with itself. It amalgamated Bargarh Cement and Damodhar Cement and Slag, which took effect from April, 2005. It had also divested its refractory business with effect from September, 2005.

The company sold 18.86 million tonne of cement in 2006 compared with 17.5 million tonne during 2005, an increase of 7.8 per cent. Profit before interest, depreciation, exceptional items and tax at Rs 1,778.53 crore during the year is up 98.7 per cent compared with Rs 895.02 crore last year.

The expansion projects for Lakheri plant involving a capacity hike of 0.9 million tonne to 1.5 million tonne and 25 mw captive power, is nearing completion, the company said. The augmentation of grinding capacities at Kymore by 0.5 million tonne, Tikaria by 0.31 million tonne, Sindri by 0.4 million tonne and Wadi by 1.08 million tonne are in the process.

The company is also adding 3.10 million tonne of fresh capacity taking its total capacity to 23.10 million tonne by December this year.

At its Bargarh plant, company is adding 1.18 million tonne along with 30 mw captive power plant.