ACC Ltd

About [ edit ]

ACC Limited is engaged in manufacturing of cement and ready mixed concrete. The Company's segments include Cement and Ready Mix Concrete.

  • Market Cap 35,609 Cr.
  • Current Price 1,896
  • High / Low 2,023 / 1,125
  • Stock P/E 19.8
  • Book Value 676
  • Dividend Yield 0.74 %
  • ROCE 16.0 %
  • ROE 12.8 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 21.40% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 18.27%

Cons

  • The company has delivered a poor sales growth of 3.32% over past five years.
  • Company has a low return on equity of 13.38% for last 3 years.

Peer comparison

Sector: Cement Industry: Cement - North India

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
3,848 3,433 3,896 3,919 4,150 3,528 4,060 3,502 2,602 3,537 4,145 4,292
3,223 2,990 3,408 3,387 3,367 2,971 3,519 2,915 2,077 2,866 3,573 3,432
Operating Profit 625 444 488 532 783 557 541 586 525 671 572 860
OPM % 16% 13% 13% 14% 19% 16% 13% 17% 20% 19% 14% 20%
Other Income 35 35 33 160 56 54 62 58 53 46 -108 48
Interest 27 20 22 21 20 16 29 11 13 16 17 11
Depreciation 149 151 155 148 147 151 161 158 163 161 157 143
Profit before tax 483 308 343 523 673 443 413 476 403 541 289 754
Tax % 32% 32% -113% 34% 32% 32% 34% 32% 33% 33% -63% 25%
Net Profit 329 209 732 346 456 303 273 323 271 364 472 563
EPS in Rs 17.50 11.14 39.00 18.42 24.26 16.11 14.55 17.20 14.43 19.38 25.16 29.96

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020 TTM
8,386 8,181 10,153 11,275 11,062 11,646 11,706 10,990 13,285 14,802 15,658 13,786 14,576
5,920 6,599 8,232 9,171 9,432 10,132 10,147 9,532 11,370 12,754 13,245 11,431 11,947
Operating Profit 2,466 1,582 1,921 2,104 1,630 1,513 1,559 1,458 1,915 2,048 2,413 2,355 2,629
OPM % 29% 19% 19% 19% 15% 13% 13% 13% 14% 14% 15% 17% 18%
Other Income 239 319 191 20 281 257 -66 115 137 153 332 50 40
Interest 84 58 97 115 114 83 65 79 99 88 86 57 58
Depreciation 373 428 510 569 584 568 663 609 644 603 606 639 624
Profit before tax 2,247 1,415 1,505 1,441 1,214 1,120 766 885 1,310 1,510 2,053 1,709 1,987
Tax % 31% 24% 14% 27% 11% -3% 25% 26% 29% -1% 33% 16%
Net Profit 1,564 1,078 1,301 1,059 1,095 1,162 588 658 924 1,520 1,377 1,430 1,670
EPS in Rs 83.30 57.39 69.29 56.42 58.31 61.88 31.30 35.06 49.23 80.97 73.35 76.16 88.93
Dividend Payout % 28% 53% 40% 53% 52% 55% 54% 49% 53% 17% 19% 18%
Compounded Sales Growth
10 Years:5%
5 Years:3%
3 Years:1%
TTM:-4%
Compounded Profit Growth
10 Years:3%
5 Years:21%
3 Years:19%
TTM:33%
Stock Price CAGR
10 Years:7%
5 Years:6%
3 Years:8%
1 Year:65%
Return on Equity
10 Years:13%
5 Years:12%
3 Years:13%
Last Year:13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020
188 188 188 188 188 188 188 188 188 188 188 188
Reserves 5,682 6,093 6,791 7,184 7,625 8,030 8,233 8,625 9,168 10,344 11,356 12,511
Borrowings 567 524 511 163 35 0 0 0 0 0 0 84
3,584 4,237 4,431 4,393 4,253 4,464 4,379 4,581 5,490 5,524 5,592 5,417
Total Liabilities 10,021 11,041 11,921 11,928 12,101 12,682 12,800 13,394 14,846 16,056 17,136 18,200
4,378 5,307 6,406 5,931 5,570 5,666 5,331 7,568 7,280 7,088 7,027 6,694
CWIP 2,157 1,564 370 315 832 1,956 2,396 261 269 398 446 548
Investments 1,192 1,407 1,293 2,479 2,126 1,385 1,314 117 95 104 116 129
2,293 2,764 3,851 3,203 3,573 3,675 3,759 5,448 7,202 8,466 9,547 10,828
Total Assets 10,021 11,041 11,921 11,928 12,101 12,682 12,800 13,394 14,846 16,056 17,136 18,200

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020
2,376 1,926 1,576 1,577 1,063 1,352 1,457 1,390 1,554 1,118 2,255 2,219
-2,625 -785 -258 -308 -862 -1,457 -904 -533 -379 -364 -321 -535
-455 -641 -768 -1,066 -834 -837 -716 -430 -426 -380 -374 -327
Net Cash Flow -704 499 549 203 -633 -942 -164 426 750 374 1,559 1,357

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Dec 2015 Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020
ROCE % 40% 23% 22% 24% 17% 15% 12% 11% 16% 16% 19% 16%
Debtor Days 12 11 10 10 13 13 15 18 18 21 15 12
Inventory Turnover 3.56 3.67 3.70 3.66 3.68 3.71 3.47 3.12 3.56 3.46 4.15 4.98

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
54.53 54.53 54.53 54.53 54.53 54.53 54.53 54.53 54.53 54.53 54.53 54.53
10.87 10.21 7.18 8.92 8.66 9.26 8.60 7.79 8.14 6.70 11.65 12.74
19.88 20.50 23.47 21.45 22.15 21.10 21.22 21.03 18.38 25.51 20.58 20.18
0.15 0.15 0.15 0.15 0.15 0.15 0.12 0.15 0.15 0.15 0.15 0.15
14.57 14.61 14.67 14.95 14.51 14.96 15.53 16.49 18.80 13.11 13.09 12.40

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