Gautam Adani, Chairman of Adani Group, has issued a letter to ACC Limited shareholders, addressing recent developments and the group's performance in the wake of regulatory scrutiny. The letter comes after the Securities and Exchange Board of India (SEBI) dismissed allegations against the Adani Group that were raised in a report by Hindenburg Research on January 24, 2023.

SEBI's Verdict and Group's Resilience

Adani described SEBI's decision as a "resounding and unequivocal verdict," emphasizing that it validates the group's transparency, governance, and purpose. He stated, "What was meant to weaken us has instead strengthened the very core of our foundations."

Impressive Financial Growth

The Chairman highlighted the group's financial performance during this challenging period:

The group's EBITDA showed a remarkable two-year CAGR of 25%, while the Gross Block expanded by nearly ₹2 lakh Cr in just two years.

Major Infrastructure Achievements

Adani outlined several significant projects completed during this period:

• Commissioned India's first container transshipment port at Vizhinjam
• Added 6 GW of renewable capacity, including the world's largest single-location renewable project at Khavda
• Commissioned the world's largest copper smelter and metallurgical complex
• Expanded the energy network with 7,000 circuit kms of transmission lines and 4 GW of new thermal capacity

Future Commitments

Looking ahead, Adani promised to:

1. Further strengthen governance standards
2. Accelerate innovation and sustainability
3. Continue investments in nation-building infrastructure projects

A Message of Gratitude and Resilience

The Chairman expressed profound gratitude to investors, lenders, suppliers, and partners for their support during challenging times. He concluded with a poetic quote emphasizing resilience: "The boat that fears the waves can never reach the shore, But those who keep on trying will win forevermore...."

ACC Limited , a leading cement manufacturer in India, has reported impressive operational and financial results for the quarter ended June 30, demonstrating strong growth across key metrics.

Record-Breaking Sales and Revenue

ACC achieved its highest quarterly sales volume of 18.40 million tonnes, marking a significant 20% year-on-year increase. This robust performance propelled the company's revenue beyond the Rs 10,000 crore milestone, reaching Rs 10,289.00 crore, up 23% compared to the same quarter last year.

Substantial EBITDA Growth

The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) saw a remarkable 53% year-on-year jump, reaching Rs 1,961.00 crore. This substantial increase in EBITDA underscores ACC's operational efficiency and cost management strategies.

Financial Strength and Expansion Plans

ACC continues to maintain a strong financial position, remaining debt-free with a net worth of Rs 66,436.00 crore. The company's current cement capacity stands at 104.50 MTPA, with plans to expand to 118.00 MTPA by March 2026, positioning ACC for continued growth in the Indian cement market.

Sustainability Initiatives

In line with its commitment to sustainable practices, ACC commissioned 57 MW of wind power capacity during the quarter. This addition brings the company's total renewable energy capacity to 473 MW, reinforcing its focus on reducing carbon footprint and embracing clean energy solutions.

Operational Highlights

Strategic Developments

ACC received approval from the National Company Law Tribunal (NCLT) for its scheme of amalgamation with Adani Cementation Limited, marking a significant step in its corporate restructuring efforts.

Brand Recognition

ACC has been ranked as 'India's Most Trusted Cement Brand' by TRA Research in its Brand Trust Report for the fourth consecutive year, highlighting the company's strong market position and consumer confidence.

Outlook

With robust Q1 performance, ongoing capacity expansion plans, and a focus on sustainability, ACC appears well-positioned to capitalize on the growing demand in India's infrastructure and housing sectors. The company's strong financial health and operational efficiency provide a solid foundation for future growth and market leadership in the cement industry.

The company has scheduled an analysts and institutional investors call to discuss these results and future prospects.