Views on ACC Ltd. 1QCY2016 Results: Angel Broking

Views of Mr. Siddharth Purohit (Sr. Equity Research Analyst- Cement, Angel Broking) on ACC Ltd. 1QCY2016 Results:

"ACC has come out with results ahead of our estimates with PAT at INR 227 cr. Sales volume grew by 9.3% better than expected. Revenues growth (adjusted) remained muted growing by only 1.5%. Realisations were under pressure declining by 8% YoY and 3.7% QoQ and hence revenue growth was lower despite the strong volume growth by the company.

EBITDA per ton at INR 682 have come in better than expected as other operating cost saw moderation during the quarter. Realisation could improve in the quarters to come as price increase in the month of March will be reflected in the coming quarters. ACC could show improvement in the operating parameters going ahead. However, looking at the recent run up in the stock price we believe it to remain range bound. We have NEUTRAL rating on the stock."

Shares of ACC LTD. was last trading in BSE at Rs.1441.95 as compared to the previous close of Rs. 1437.1. The total number of shares traded during the day was 24024 in over 2072 trades.

The stock hit an intraday high of Rs. 1459.45 and intraday low of 1430. The net turnover during the day was Rs. 34712594.

Source : Equity Bulls

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