ACC Q1 Results - Cementing The Performance On Cost Reduction: Prabhudas Lilladher
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Prabhudas Lilladher Report
ACC Ltd. reported strong set of Q1 CY21 earnings with Ebitda growth of 47% year-on-year at Rs 8.6 billion, above our/consensus estimates by 21%/15%.
Beat came largely on account of lower than expected raw material costs and employee expenses.
ACC delivered strong performance on the cost front over last couple of years despite constrained capacity and steep surge in coal/diesel prices.
We see scope for further cost reduction due to
power and fuel through increase in share of waste heat recovery, solar power and modernisation in kilns,
increase in share of volumes under Master Supply Agreement with Ambuja cement.
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