ACC Q1 Results - Strong Show Led By Lower Costs: ICICI Securities
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ICICI Securities Report
ACC Ltd.’s Q1 CY21 Ebitda at Rs 8.6 billion (up 47% year-on-year) was higher than our/consensus estimates, mainly owing to lower costs.
Total cost declined versus our estimate of quarter-on-quarter increase owing to fuel mix optimisation, better cost efficiencies and operating leverage.
Volumes including clinker sales grew 19% YoY while realisation remained flat QoQ – both broadly in line with our estimates.
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