Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    

| More

ACC Ltd Q1CY18 Result Update Rating - ACCUMULATE - Arihant Capital Markets

Posted On: 2018-04-21 09:00:40

ACC Ltd. reported a strong set of numbers in its first quarter of CY2018. Net profit for the quarter came in at Rs. 250cr as compared to Rs. 211 cr in the corresponding quarter of previous year registering a growth of 19% YoY. Total income for the quarter came in at Rs. 3,625 cr as compared to Rs. 3,174 cr in the corresponding quarter of CY 17, up 14% YoY and increased 4% sequentially. EBITDA for the company stood at Rs. 492 cr vs. Rs. 417 cr YoY. EBITDA margin stayed almost the same at 13.6% vs 13.4% in the previous corresponding quarter.

Cement Business volume came at 7.11 MT higher by 7.7% compared to the corresponding quarter of the previous year & grew by 2.7% sequentially. The management has indicated that improving sand availability in the impacted states could help improve demand in the ensuing months.

Realization for the quarter improved by 5% YoY. Government's higher outlay for infrastructure and rural economy is expected to boost consumption, production and investments.

Cost pressure remains elevated for the industry, sharp rise in energy and freight costs are due to higher petcoke, coal and diesel prices. There is also a sharp rise in slag prices.

Overall demand seeing visible recovery driven by execution of 'Housing for All' program.


We have valued the stock at 11(x) its EV/EBITDA of CY19 estimate and have arrived at a fair value of Rs 1,778 per share. This is an upside of 13%. At CMP of Rs 1573 the stock is available at CY19E P/E(x) of 22.4 (x) and CY17 EV/EBITDA(x) of 14.1 (x) respectively. We have "ACCUMULATE" rating on the stock.

Shares of ACC LTD. was last trading in BSE at Rs.1565.55 as compared to the previous close of Rs. 1574.25. The total number of shares traded during the day was 16692 in over 888 trades.

The stock hit an intraday high of Rs. 1584.9 and intraday low of 1558. The net turnover during the day was Rs. 26228210.

Source: Equity Bulls

Click here to send ur comments or to

Disclaimer:The article above is a gist / extract of the original report prepared by the research firm / brokerage firm. This article is not to be considered as an offer to sell or a solicitation to buy any securities. This article is meant for general information only., its employees or owners or the research firms, its employees or owners won't be responsible for any liability that may arise from information, errors or omissions in these articles. or its employees or owners / the research firms or its employees or clients or owners may from time to time hold positions in securities referred in this article. For detailed research reports, please contact the concerned research firm directly.

Other Headlines:

Dhunseri Investments Ltd acquires 4643 shares of Dhunseri Petrochem Ltd through Market Purchase

Pennam Sudhakar disposes 16700 shares of CIGNITI TECHNOLOGIES LTD

SITA DEVI sells shares of MAHAAN FOODS LTD through inter-se transfer

GPT Infraprojects Ltd Bags Order Valued at Rs.81.50 crore

Indian biosimilar market to be worth $40 billion by 2030

Result Update: Mirza International Ltd - BUY - TP Rs.104 - Kotak

Result Update: Asian Granito India Ltd - REDUCE - TP Rs.185 - Kotak

Result Update: Va Tech Wabag Ltd - BUY - TP Rs.378 - Kotak

Result Update: PNC Infratech Ltd - BUY - TP Rs.197 - Kotak

Result Update: KNR Constructions Ltd - BUY - TP Rs.235 - Kotak

Result Update: Talbros Automotive Ltd - BUY - TP Rs.400 - Kotak

Result Update: Sterling Tools Ltd - ACCUMULATE - TP Rs.361 - Kotak

Result Update: Engineers India Ltd - BUY - TP Rs.155 - Kotak

Result Update: Century Plyboards Ltd - BUY - TP Rs.232 - Kotak

Result Update: Eveready Industries India Ltd - BUY - TP Rs.310 - Kotak

Result Update: The Phoenix Mills Ltd - BUY - TP Rs.707 - Kotak

Result Update - Voltamp Ltd - BUY - TP Rs.1320 - Kotak

Result Update: Berger Paints Ltd - SELL - TP Rs.280 - Kotak

Company Visit Note: Ratnamani Metals & Tubes Ltd - NOT RATED - Kotak

Result Update: Insecticides India Ltd - BUY - TP Rs.643 - Kotak

Result Update: Nagarjuna Construction Company Ltd - BUY - TP Rs.135 - Kotak

Result Update: Shankara Building Products Ltd - BUY - TP Rs.1537 - Kotak

Result Update: Dollar Industries Ltd (DIL) - BUY - TP Rs.390 - Kotak

Result Update: Greenply Industries Ltd - ACCUMULATE - TP Rs.161 - Kotak

Result Update: Central Depository Services (India) Ltd - BUY - TP Rs.290 - Kotak

Result Update: Blue Star Ltd - BUY - TP Rs.655 - Kotak

Result Update: Bluedart Express Ltd - ACCUMULATE - TP Rs.2875 - Kotak

Result Update: Mahindra Holidays & Resorts Ltd - BUY - TP Rs.315 - Kotak

Result Update: GHCL - BUY - TP Rs.270 - Kotak

Result Update: NIIT Ltd - BUY - TP Rs.110 - Kotak

Result Update: Quess Corp Ltd - BUY - TP Rs.1072 - Kotak

Result Update: Praj Industries Ltd - REDUCE - TP Rs.108 - Kotak

Result Update: Supreme Industries Ltd - BUY - TP Rs.1205 - Kotak

Granules India Ltd Q2 consolidated PAT climbs to Rs. 60.26 crores

Result Update: Kansai Nerolac Paints Ltd - BUY - TP Rs.485 - Kotak

Result Update: Zensar Technologies Ltd - ACCUMULATE - TP Rs.257 - Kotak

Bajaj Auto Ltd - OPM below estimate; Retain Accumulate - Emkay

Result Update: Bodal Chemicals Ltd - ACCUMULATE - TP Rs.130 - Kotak

Result Update: Kajaria Ceramics Ltd - BUY - TP Rs.500 - Kotak

Result Update: Persistent Systems Ltd - BUY - TP Rs.870 - Kotak

Auto Industry Volume Update: September 2018 - Kotak

Sector Update - Natural Gas - Kotak

Company Visit Note: Jindal Stainless Ltd - NOT RATED - Kotak

Company Update: Bajaj Electricals Ltd - ACCUMULATE - TP Rs.545 - Kotak

Telecom: 2QFY19 preview - no respite - Kotak

Sector Update: Natural Gas - Kotak

Company Update: NBCC (India) Ltd - BUY - TP Rs.95 - Kotak

Sector Update: Paper Industry - Kotak

Management Meet Update: Maharashtra Seamless Ltd - BUY - TP Rs.805 - Kotak

Mid-Year FY19 Bank Outlook: Stress in Non-Corporate Segments - India Ratings and Research

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018