Our long-term thesis on ACC remains intact because of its market leadership position, operating efficiencies and robust balance sheet
PRO Only Highlights
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
Cement manufacturer ACC’s June-quarter earnings results came out much better than feared in the wake of the second wave of COVID-19. The resilience in cement volumes was due to the continued strength in the housing and the infrastructure segments. Quarter result highlights ACC’s quarterly revenues surged 49 per cent year on year (YoY), recovering strongly from a very stringent lockdown last year. The cement off-take came in at 6.8 metric tonnes (MT) — up 44 per cent YoY on a weak...
ACC: Strong quarter despite COVID disruptions - Moneycontrol.com
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