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This Article is From Apr 20, 2021

ACC Q1 Results - Better Show Continues, Valuation Attractive: Dolat Capital

ACC Q1 Results - Better Show Continues, Valuation Attractive: Dolat Capital

ACC Q1 Results - Better Show Continues, Valuation Attractive: Dolat Capital
A contractor pours out cement at a house under construction. (Photographer: David Paul Morris/Bloomberg)

BQ Blue'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 BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Dolat Capital Report

ACC Ltd. reported revenue and volume in line, realisation below and Ebitda/tonne and adjusted profit after tax above estimates.

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ACC posted 22.6%/ 46.7%/ 63.9% year-on-year growth in revenue/Ebitda/ APAT to Rs 42.9 billion/Rs 8.6 billion/Rs 5.2 billion in Q1 CY21 led by 4.0% YoY realisation growth (-0.7% quarter-on-quarter) coupled with +21.5% YoY (+3.4% QoQ) volume growth.

We expect 14.6%/20.5%/20.0% revenue/Ebitda/APAT CAGR over CY20-22E led by 17.4%/8.2% volume growth and 0.4%/1.0% cement realisation growth in CY21E/CY22E.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. BloombergQuint 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 BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

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