ACC

Flash News Investment - - RECOMMENDATIONS -

{Ticker : 500410 { FV: ₹10 {52-Week H/L: ₹1856/1255

We had rec­om­mended ACC Ltd. in Vol­ume No 35, Is­sue No 01 (dated Oct 22, 2018), when the scrip was trad­ing at Rs 1518. Our rec­om­men­da­tion was backed by fac­tors like ca­pac­ity ramp-up and ex­pected uptick in de­mand in con­struc­tion and in­fra­struc­ture sec­tors led by nor­mal mon­soon. Dur­ing Q3CY18, the rev­enue was up by 10.1 per­cent YoY from Rs 3054.5 crore to Rs 3364 crore led by de­mand in pre­mium prod­ucts. EBITDA was up by 5.8 per­cent YoY to Rs 374.3 crore and EBITDA mar­gin stood at 11.1 per­cent. PAT grew by 15.2 per­cent YoY from Rs 181.5 crore to Rs 209.2 crore due to lower de­pre­ci­a­tion ex­penses. The com­pany’s ex­pan­sion in the eastern re­gion by 5 MT would boost vol­umes and ris­ing de­mand for pre­mium prod­ucts would drive the topline. Thus, we urge in­vestors to HOLD the scrip.

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