Ahmedabad, April 29, 2025: Ambuja Cements, the cement and building materials company of the diversified Adani Portfolio, delivers a stellar performance in its financial results on standalone and consolidated basis for Q4 and full year ended March 31, 2025. This performance is supported by improved KPIs across operational parameters, showcasing the Company’s strength and resilience, healthy volume growth, value extraction of acquired assets, enhanced cost leadership, and group synergies.
Mr. Vinod Bahety, Whole Time Director & CEO, Ambuja Cements, said “This year marks a historic milestone in the journey of Ambuja Cements as we cross the 100 MTPA capacity. Additionally, we have ongoing organic expansions at various stages across the country, which will help us achieve 118 MTPA capacity by end of FY 2026, a significant step, bringing us closer to our goal of 140 MTPA by 2028. The 100 MTPA milestone is not just a number, it’s a mark of our ambition, resilience, and purpose. As India builds the foundation for a USD 10 Trillion economy, we are committed towards our role in building the nation’s infrastructure that empowers growth, connects communities, and supports a greener tomorrow. Driven by Purpose and Defined by Progress – ‘Hum Karke Dikhate Hain’.”
Cost Leadership / Operational Highlights
- Capex and Opex based Efficiency initiatives across all operational areas have shown healthy improvements reinforcing Ambuja’s cost leadership.
- Focused Branding and Technical support services yielded higher volume and expanded margins.
- WHRS power share increased by 4.8 pp from 12.5% to 17.3%, Solar power mix increased by 5.8 pp from 2.4% to 8.2%, taking the green power share up by 10.5 pp to 26.1%, clear road map & investment commitments to achieve 60% green power by FY 28.
- Out of planned 1 GW RE power by FY’28 at a cost of Rs 6,000 Cr, 200 MW Solar power and 99 MW of wind power in Khavda, Gujarat commissioned in FY’25, with annualised cost saving / EBITDA improvement of Rs 30 PMT Balance to be commissioned by June 2026.
- Agility and change in the fuel basket has helped to reduce kiln fuel cost by 14% from Rs. 1.84 to Rs. 1.58 per ’000 Kcal.
- Logistics costs reduced by 2% @ Rs 1,238/ton, driven by efficiency improvement journey (overall lead distance reducing by 16 km, direct dispatch up by 4 pp @58%). Through various freight negotiation initiatives, road PTPK has reduced to Rs 4.18 per ton. Further improvements based on modal shift to marine logistics expected in coming quarters.
- Supply from Krishnapatnam GU to Cochin and Mangalore market through sea route has commenced and will help in optimizing freight costs by Rs 5 PMT boosting profitability
- Wider footprint, based on expanded market presence from acquired assets including Penna, Sanghi, Asian, and Tuticorin GU, is driving down costs along with better capacity utilisation.
- Strategic initiative of deployment of BCFC rakes will contribute to further bringing down the logistics costs in upcoming quarters
- Acquired assets like Sanghi, Asian and Penna doing well. Penna plants operations getting stabilised and the Clinker capacity utilisation has gone up to ~80%
- Cost reduction initiatives for fuel, fly ash, logistics and overall man-power productivity, will help to achieve target cost of Rs. 3,650 PMT by FY’28, further boosting EBITDA margins.
| Particulars (YoY) | Q4 FY’25 | FY’25 |
| Sales Volume
(Clinker & Cement) |
Growth of 13% YoY, at 18.7 MnT, highest ever sales volume in a quarter | Growth of 10% YoY, at 65.2 MnT, highest ever annual sales volume |
| Kiln Fuel Cost | Reduced by 14%
(Rs. 1.84 to Rs. 1.58/’000 kCal) |
Reduced by 12%
(Rs. 1.90 to Rs. 1.66/’000 kCal) |
| Green Power as a % of power Consumption | Increased by
10.5 pp to 26.1% |
Increased by
5.8 pp to 21.4% |
Financial Highlights (Consolidated)
- Higher volume along with improved operational parameters resulted in growth in all business parameters.
- EBITDA PMT @ Rs. 1,001, EBITDA Margin at 18.9%
- Net worth increased by Rs. 12,969 Cr during the year and stands at Rs. 63,811 Cr, Company remains debt free & continues to maintain highest rating Crisil AAA (stable) / Crisil A1+
- The Cash & Cash Equivalent stands at 10,125 Cr enables accelerated growth in future
- For Ambuja Cements (consolidated), business level working capital stands at 28 days, reflecting agility in unblocking the funds in inventory and receivables
Financial Performance for the Quarter ended March 31, 2025:
| Particulars | UoM | Consolidated | Standalone | ||
| Q4
FY’25 |
Q4
FY’24 |
Q4
FY’25 |
Q4
FY’24 |
||
| Sales Volume
(Cement and Clinker) |
Mn T | 18.7 | 16.6 | 11.6 | 9.5 |
| Revenue from Operations | Rs. Cr | 9,889 | 8,894 | 5,681 | 4,780 |
| Operating EBITDA & Margin | Rs. Cr | 1,868 | 1,699 | 1,038 | 798 |
| % | 18.9% | 19.1% | 18.3% | 16.7% | |
| Rs. PMT | 1,001 | 1,026 | 898 | 837 | |
| Other Income | Rs. Cr | 573 | 233 | 442 | 177 |
| Profit Before Tax | Rs. Cr | 1,780 | 1,595 | 1,197 | 681 |
| Profit After Tax | Rs. Cr | 1,282 | 1,521 | 929 | 532 |
| EPS – Diluted | Rs. | 3.88 | 4.93 | 3.77 | 2.42 |
Financial Performance for the year ended March 31, 2025:
| Particulars | UoM | Consolidated | Standalone | ||
| FY’25 | FY’24 | FY’25 | FY’24 | ||
| Sales Volume
(Cement and Clinker) |
Mn T | 65.2 | 59.2 | 39.7 | 34.4 |
| Revenue from Operations | Rs. Cr | 35,045 | 33,160 | 19,454 | 17,919 |
| Operating EBITDA & Margin | Rs. Cr | 5,971 | 6,400 | 2,965 | 3,371 |
| % | 17.0% | 19.3% | 15.2% | 18.8% | |
| Rs. PMT | 915 | 1,081 | 747 | 980 | |
| Other Income | Rs. Cr | 2,654 | 1,166 | 1,899 | 853 |
| Profit Before Tax | Rs. Cr | 5,922 | 5,896 | 3,718 | 3,107 |
| Profit After Tax | Rs. Cr | 5,158 | 4,735 | 3,755 | 2,335 |
| EPS – Diluted | Rs. | 16.96 | 16.65 | 15.28 | 10.88 |
Dividend
In context of the ongoing capex and growth plans of the company, the Board of Directors have recommended a dividend on equity shares at Rs. 2.0 per share, which is consistent with last year.
Comparison with Global Standards
At Ambuja Cement, we believe that true leadership is defined not just by scale, but by how we measure up to the best in the world. We are consistently benchmarking our performance across key parameter energy efficiency, carbon footprint, water conservation, digital adoption, safety, and innovation against global industry leaders. Our focus on lower clinker factor, alternative fuel usage, and WHRS integration places us among the most sustainable cement producers globally.
We are aligning with international frameworks such as the Science Based Targets initiative (SBTi), Global Cement and Concrete Association (GCCA) guidelines, and Task Force on Climate Related Financial Disclosures (TCFD). Our ESG disclosures and sustainability roadmaps are designed to meet or exceed global expectations, ensuring that our practices remain future ready and globally competitive.
Learning form Industries and Best Practices to be implemented
Ambuja Cements’ journey is also defined by a deep commitment to continuous learning and innovation from industry’s best practices, both domestic and international markets. This enables adoption of proven strategies that enhance productivity, safety, and sustainability. This includes adopting global standards in process automation, green logistics, alternative fuels, digital transformation initiatives, replicating successful use cases in AI-led maintenance, smart dispatch, and real-time tracking systems. The Company also draws insights from peers and cross-industry leaders to elevate its operational excellence, customer-centricity, and governance practices. By creating an ecosystem of shared knowledge, benchmarking, and best-in-class adoption, Ambuja Cements continues to lead the way in building the next generation of smart, sustainable, and scalable cement operations.
- World’s 9th largest Cement Company, amongst fastest growing with World’s highest altitude cement plant.
- World’s first cement company to join the Alliance for Industry Decarbonization (AFID), under the International Renewable Energy Agency (IRENA).
- Committed to Net Zero emissions by 2050. Subsidiary, ACC is India’s first large scale cement company with science-based net-zero targets validated by the SBTi.
- Amongst the few large cement companies in the world which has strategic partnership with Finland-based ‘Coolbrook’ to implement RotoDynamic Heater
ESG Updates
- Blended cement at 82% of product mix, exemplifies commitment to eco-friendly practices & CO2 emissions minimisation.
- Ambuja Cements (consolidated), created societal value for 7 million lives in healthcare, education, employment, and sustainable livelihoods through community engagement initiatives.
- Achieved 12x water positivity, establishing leadership in water governance.
- Reached an impressive 11x plastic negativity through co-processing of plastic waste in cement kiln.
- Pledged to plant 8.3 million trees by 2030, in line with Adani Group’s ambitious plan to plant 100 million trees.
- Ambuja Cements (consolidated), processed more than88 million tonnes of waste derived resources embracing circular economy.
Branding and Technical Services
- Partnered with the Gujarat Giants in Women’s Premier League 2025.
- Ambuja Certified Technology implemented at 19,714 customer sites, making their homes stronger.
- Trained 3,019 Contractors under various skill upgradation workshops with 1,053 plant visits, aimed at deeper understanding of our products.
- Series of knowledge sharing technical events conducted for 2,482 construction professionals.
- Redefining brand positioning to increase share of premium product from 13% to 40% by changing perceptions and transforming the market. Achieved premium product as % of trade sales at 29%.
Digitalisation
- Launched ‘Reward Connect’ app, a loyalty rewards platform, enabling pan-India online reward point redemption for industry influencers and channel partners.
- Deployed OT Security Monitoring solution for real-time monitoring, strengthening cybersecurity.
- Digitalisation is facilitating swift decision-making and improved customer service by leveraging AI, IOT, Video analytics and Optimisation capabilities.
- Advanced logistics systems leverage GPS, RFID and algorithms to ensure real-time tracking and seamless coordination. Introduced a comprehensive Safety Dashboard, to improve fleet management and operational oversight.
- Revolutionised sales operations by introducing unified solutions like OneConnect and Adani Cement Connect, enhancing efficiency and user experience for various stakeholders.
- Digitalised HR process by implementing Oracle Fusion for workforce management and Kronos for 3rd party contractor management.
Outlook
Cement consumption for Q4 FY’25 recorded growth of 6.5-7%. This increase in demand was driven by pick-up in construction activities, improvement in rural demand, traction in the real estate sector, and increase in government spending. Cumulative growth for FY’25 is likely to stay between 4-5%. Based on the demand growth trends observed in H2 FY’25, it is projected that cement demand growth in India during FY’26 will continue to benefit from the momentum gained by government spending on infrastructure and construction activities and pro-infra and housing Budget. Growth for FY’26 is anticipated to range between 7% to 8%.
Achievements
- Golden Peacock Award 2024 for showcasing excellence in ESG initiatives at IOD’s Annual Global Convention on Corporate Governance and Sustainability in London, UK.
- Honoured with a Leadership Score of ‘A-‘ in the CDP Climate Assessment.
- Recognised as ‘Iconic Brand of India 2024’, for third consecutive year by The Economic Times.
- Recognised as ‘India’s Most Trusted Cement Brand’ by TRA Research for two years in a row.
- ICC Social Impact Award 2024 for Women Empowerment.
- CII SCALE Award 2024 for Excellence in Logistics.
- Gold at the Arogya World Healthy Workplace Awards 2024.