ACC Q3 Results Review- Profitability Picked Up: IDBI Capital

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.ACC Ltd's Q3 FY24 Ebitda beat our and consensus estimates by 20% and 27%. Ebitda beat was led byVolume growth at 16% YoY better than our estimate of 10% Lower other expenses at Rs 582/tonne versus Rs 689/tonne QoQ andLower freight costs at Rs 1082/tonne versus Rs1177/tonne QoQ.ACC is expected to see its installed capacity increasing by 4%/6% in FY25E/26E. Though the addition is lower than Ambuja Cement but in next round of capex for Adani cement, ACC is expected to get larger share. On ACC, we retain 'Buy' rating with revised target price of Rs 3,224 (earlier Rs 2148) as we increased valuation multiple to 12 times versus 10 times earlier roll forward target price to FY26E versus FY25E earlier. ACC profitability (Ebitda/tonne) has seen sharp improvement and we see this sustaining, which will narrow valuation discount (of 50%) with its peers group..Click on the attachment to read the full report:.Ambuja Cements Q3 Results Review - Higher Cost Led Earnings Miss; Consolidated Volume Up 3% YoY: Motilal Oswal.This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

ACC Q3 Results Review- Profitability Picked Up: IDBI Capital

Revenue at Rs 49 billion is up 8% YoY, backed by volume growth of +16% YoY.

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ACC Q3 Results Review- Profitability Picked Up: IDBI Capital

Revenue at Rs 49 billion is up 8% YoY, backed by volume growth of +16% YoY.

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