ACC Q4 Results: Revenue Rises 8.2%; Net Profit At Rs 235.63 Crore

ACC Ltd.'s fourth-quarter net profit tumbled and missed analysts' estimates.

• Volume increased by 9% QoQ at 8.5 MT, supported by an increase in blended cement, better route planning and higher operational synergies with parent Ambuja Cements Ltd., according to the filing.

• Manpower cost reduced QoQ from Rs 262 PMT to Rs 250 PMT.

• Kiln fuel cost reduced by 10%.

“Our transformation journey fuelled by sizeable operational efficiencies, improved synergies and business excellence has led to substantial improvement in our financial performance and overall business indicators. We have a detailed blueprint on each of the cost factors and initiatives to reduce and improve," Ajay Kapur, whole-time director and chief executive at ACC, said.

"This along with capex program will position the company back into growth momentum synonymous with its legacy," Kapur said.

ACC’s auditor has issued a qualified opinion, citing ongoing proceedings in the Adani-Hindenburg case, the filing said.

Adani Group has undertaken review of transactions mentioned in the Hindenburg report through an independent law firm. The review confirms ACC’s compliance of applicable laws and regulations, it said.

Shares of the company closed 0.51 % higher at Rs 1,747.10 on Thursday, as compared with a 0.57% gain in the benchmark NSE Nifty 50.

Of the 44 analysts tracking the company, 30 maintain a 'buy', nine recommend a 'hold' and five suggest a 'sell', according to Bloomberg data. The 12-month consensus price target implies an upside of 28.5%.

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