1726.1000 9.40 (0.55%)
NSE Jan 22, 2026 09:21 AM
Volume: 3,140
 

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ACC Ltd.
27 Jul 2016
1726.10
0.55%
Phillip Capital
Volume growth was a key disappointment. Negative volume growth in a scenario where peer growth was 6% is unjustifiable. Operating margin is 1.3% lower vs. our expectation, largely due to no volume growth (LafargeHolcim’s lack of focus in adding capacities has been the key reason).Operational efficiencies have sustained; realisation trend appears in line with peers. Near?term positive triggers are present – consolidation with Ambuja and commissioning of Jamul expansion – but we see all the positives largely factored in.Despite upgrading the target multiple to 14x CY17 EV/EBITDA (vs. 12x earlier), and even after considering the benefits of consolidation with Ambuja,see no upside.Phillip Capital maintain Sell with a revised price target of Rs 1,430 (Rs 1,230 earlier).The only potential trigger would be a recovery in cement prices.

Trendlyne has 17 reports on ACC updated in the last year from 7 brokers with an average target of Rs 158.7. Brokers have a rating for ACC with 1 downgrade,3 price downgrades,2 upgrades,6 price upgrades in past 6 months and 5 price downgrades in past 1 Year.
ACC Ltd. has an average target of 2170.00 from 6 brokers.
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