ACC Q2 Review - Volume, Realisation Surprises: IDBI Capital
Gravel and sand are loaded onto a conveyor belt at the concrete plant. (Photographer: Jack Atley/Bloomberg)

ACC Q2 Review - Volume, Realisation Surprises: IDBI Capital

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IDBI Capital Report

ACC Ltd.’s Q2 CY21 Ebitda is 23%/ 21% higher than our/consensus estimate.

Beat in the number is led by volume and realisation. Volume in the quarter has decreased by 15% QoQ versus estimate of down 21% QoQ.

Cement realisation increased by 8% QoQ and was supported by sale of premium cement.

We have factored beat in Q2 result in CY21/22 financials and this has resulted in increase in the Ebitda by 5%/8%.

After Covid 2 related lockdown, ACC has seen pick up in the volume in June 2021 and profitability (Ebitda/tonne) led by realisation has increased sharply.

Click on the attachment to read the full report:

IDBI Capital ACC Q2CY21 Result Update.pdf

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