ACC Results

The response was poor as the current market price is far above the open offer price, bankers said

Consolidated net sales rose 15.1 per cent to Rs 7,943 crore in the April-June period versus the same period last year

This will be the first result announcement by the company since it was acquired by the Adani group in May 2022

Shares of Mindtree seem fairly placed and can rally up to 23 per cent, while ACC, HDFC Bank and ICICI Prudential Life need to conquer key levels for a fresh rally to emerge.

Cement maker ACC Ltd on Thursday reported 60.07 per cent decline in consolidated net profit at Rs 227.35 crore for the second quarter ended June 30, 2022. The company, which follows January-December financial year, posted a profit of Rs 569.45 crore in April-June a year ago, ACC said in a BSE filing. Total revenue from operations during the quarter under review was Rs 4,468.42 crore as against Rs 3,884.94 crore in the year-ago period. Total expenses were at Rs 4,221.74 crore as compared with Rs 3,175.47 crore earlier. Shares of ACC on Thursday settled at Rs 2,154.50 apiece on the BSE, down 0.83 per cent from the previous close.

The company, which follows the January-December financial year cycle, had posted a profit of Rs 562.59 crore in the same period a year ago, said ACC

Ace investor Ashish Kacholia increased stake in Caplin Point from 1.08 per cent as of December 2020 to 1.16 per cent as of March 2021

The robust Q3 operating performance that was ahead of expectations is driving upgrades in earnings and target prices

ACC said the efficiency and cost reduction drove Ebitda margin expansion by 328 basis points during the quarter

Valuation of 7.6x its CY21 EV/Ebitda and EV/tonne of $79 appears attractive

Despite the lockdown impacting volumes, lower costs drove earnings and beat expectations

ACC's volumes were down 13 per cent YoY to 6.56 million tonnes due to the shutdown of operations from March 24, 2020

The operating performance should see some benefits from decling raw material costs, however demand recovery holds key for significant upside

Better than expected realisation and operational efficiencies helped boost the operating profit to about Rs 813 a tonne, the highest in five years

Healthy volume growth, better realisations helped the company report higher profit per tonne

Analysts on average had expected the company to post a profit of Rs 1.85 billion

Improving operating profit despite rising costs should push up Street's confidence