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ACC, Ambuja Cements board approve renewal of MSA

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The board of ACC and Ambuja Cements approved the renewal of master supply agreement (MSA) for a tenure of three years.

The Audit Committee and the board of ACC has approved the renewal of the existing Master Supply Agreement (MSA) with Ambuja Cements (ACL) for a period of three years with effect from 2 May 2021, on the same terms of the existing MSA agreement. The announcement was made after market hours yesterday, 18 February 2021.

Shares of ACC slipped 0.73% to Rs 1,775.50 on BSE. ACC, a member of the LafargeHolcim Group, is one of India's leading producers of cement and ready mixed concrete.

Shares of Ambuja Cements fell 1.54% to Rs 278.50 on BSE. Ambuja Cements is one of the leading cement companies in India. It is part of the LafargeHolcim Group, the world leader in the building materials industry, with a presence in around 70 countries, and a focus on cement, aggregates, ready-mix concrete and solutions & products.

Ambuja Cements announced Q4 results yesterday, 18 February 2021. The company reported 41% rise in standalone net profit to Rs 497 crore in Q4 December 2020 from Rs 352 crore in Q4 December 2019. EBITDA during the quarter at Rs 768 crore showed a growth of 40% Y-o-Y (year-on-year) and operating EBIT at Rs 642 crore showed a robust growth of 61% Y-o-Y.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, February 19 2021. 11:01 IST