Mr. Keshav Lahoti - Associate Equity Analyst, Angel Broking Ltd
"On a Consolidated basis for Q3CY20, ACC reported flat revenue to Rs. 3,583 crore and 20.2% increase in profit due to improvement in operating margins. Operating EBITDA and EBIT for the quarter registered a significant improvement by 21% & 26% to Rs. 671 Crore & Rs. 511 Crore respectively due to reduction in cost especially the power and fuel cost. Company operating EBIDTA margin expanded by 330 basis points to 19.4%. Due to the pick up in the economy, pent up demand cement sales volume increased by 1% YoY. Operating cost per ton of cement continues to reduce as Company realize benefits of their efficiency and cost reduction programs. We are positive on the Cement sector as well as on the Company as in most of the regions cement demand is almost back to pre covid levels and industry margins have increased due to reduction in cost. Overall, numbers were ahead of consensus in all the fronts of revenue, EBIDTA and PAT. We believe such strong results will lead to a continuity of rally not only for the Company but also for the cement sector."
Shares of ACC LTD. was last trading in BSE at Rs.1562.8 as compared to the previous close of Rs. 1561.4. The total number of shares traded during the day was 53073 in over 3247 trades.
The stock hit an intraday high of Rs. 1574 and intraday low of 1539. The net turnover during the day was Rs. 82560138.