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ACC Q4 Results Review: Volume-Led Resilience With Green Gains — Systematix Maintains 'Buy' Rating
Systematix expects ACC’s capacity growth to outpace industry (7–8%) by 400–450 bps over FY24–FY28E, with upcoming expansions likely to unlock the next leg of growth.
25 Apr 2025, 06:15 AM IST 
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ACC's stock currently trades at an attractive 7.8x/5.8x FY26E/FY27E EV/Ebitda. (Photo: Company website)
ACC reported its highest-ever quarterly volume and revenue, reaching 11.9 mtpa (up 14% YoY) and Rs 60 billion, respectively. Standalone revenue rose 11.3% YoY (1.9% QoQ) to Rs 60.1 billion, missing our estimate of Rs 64.9 billion. Strong volume growth helped offset the impact of weaker realizations. Sales volume grew a healthy 14.4% YoY (11.2% QoQ) to 11.9 mtpa, in line with our estimate of 11.5 mtpa.
