Adani Group-owned cement company ACC Ltd. has clarified that its cash in hand dipped 62 per cent in December quarter to ₹2,835 crore against ₹7,367 crore in the same period last year.

The closing cash balance under the previous promoter Holcim was at ₹4,019 crore as of September 15, 2022, the company said.

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ACC will be shifting is financial reporting from calendar year (January to December) to financial year (April to March).

Routine capex and setting up the Clinker Unit at Ametha (Kiln capacity of 3.30 million tonnes per annum, EC approvals in hand for 2.75 mtpa) and one mtpa Grinding Unit in Ametha. The project is expected to be commissioned in March while commercial production will start from July. A large part of this capex has been incurred during Holcim period, it said.

ACC had declared a dividend of ₹58 a share in April resulting in an outflow of ₹1,090 crore, it said.

Meanwhile, Adani Group has clarified that none of the promoters’ shares in Ambuja Cement and ACC have been pledged. The promoters have only provided non-disposal undertaking and accordingly, there is no requirement of providing any top-up of shares of Ambuja Cement and ACC or cash top up under the acquisition financing raised last year.

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