New capacities to help gain lost ground from CY22E onwards Over the past five years, ACC has lost market share to other large players with no major new capacities coming up during this period either through greenfield or M&A; route. While industry capacity grew at 7% CAGR, the company managed to increase its capacity from 30.5 MT to 33 MT i.e. at 2% CAGR. As a result, ACC's production share declined from 14% in FY14 to 11% in FY20. To address this growth concern, the company is increasing its capacity to 39.3 MT with total capex of ~| 3000 crore. This would be mainly...