India: ACC’s net sales rose by 35% year-on-year to US$1.08bn in the first half of 2021 from US$799m in the same period in 2020.Its earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 56% to US$232m from US$149m. Sales volumes of cement and ready-mixed concrete grew by 31% to 14.8Mt and by 32% to 1.41Mm3 respectively.
“I am proud of the way team ACC has recorded very good performance this quarter. With a strong focus on supply chain efficiencies and cost optimisation, the company has emerged stronger and more resilient. Waste heat recovery system projects at various sites are progressing well. The large cement capacity expansion project at Ametha in Madhya Pradesh has commenced,” said ACC’s managing director and chief executive officer, Sridhar Balakrishnan.
The subsidiary of Holcim Group added that it “believed strongly” in the resilience of the Indian economy following the coronavirus crisis. It expects cement demand to grow due to increased government spending on large scale infrastructure projects.