ACC Q3 Results Review - Cost efficiency, Synergies Aids Growth: Yes Securities

Yes Securities Report

ACC Ltd.'s delivered an exceptional performance in Q3 FY24, where Ebitda grew by plus 139% YoY and plus 65% QoQ translating to Rs1,017/tonne (+107% YoY). This performance was largely driven by the volume growth of +16% YoY supported by eased total cost/tonne of 17% YoY, even though net sales realisation declined by 6% YoY in Q3 FY24.

ACC registered a revenue growth of 8% YoY to Rs 49 billion, which was 4% above our estimate in Q3 FY24. Profit after tax exceeded expectation by 28% reaching to Rs 5.4 billion (plus 180% YoY) aided by better operating profitability in Q3 FY24.

In January 2024, ACC acquired 55% stake in Asian Concretes and Cements Pvt Ltd. along with its subsidiary Asian Fine Cements Pvt Ltd. and jointly having a total capacity of 2.8 mtpa.

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