ACC Q3 Review - Expansion To Improve Volume: IDBI Capital
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IDBI Capital Report
ACC Ltd.’s Q3 CY21 Ebitda came in-line with our and consensus estimate.
Volume in the quarter has increased by 1% YoY and is lower than UltraTech Cement Ltd. due to ACC’s exposure in east and south. East region volume was impacted due to excessive rainfall.
The company planned capacity addition in central region, will provide much needed growth. ACC capacity to increase by 11% YoY in CY22E.
On demand the company expects industrial and commercial construction to witness revival on back of:
deferred investments from previous fiscal.
implementation of production linked incentive scheme and
warehousing space to more than double over next five years due to e-commerce boom.
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