ICICI Direct: ACC’s Sales Volume Back To Pre-Covid-19 Levels
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ICICI Direct Report
ACC Ltd. reported improved Q3 CY20 results with sales volume bouncing back to pre-Covid-19 levels during the quarter supported by healthy realisations.
Revenues increased 0.3% YoY to Rs 3,537.3 crore (versus our estimate: Rs 3,311 crore) led by sales volume growth of 0.8% YoY to 6.49 metric tonne.
Strong rural demand along with revival of infrastructure projects supported sales volume growth.
Ready-mix concrete volumes, however, fell 43% YoY to 0.46 million due to localised lockdowns in the urban market.
Sales realisations stayed healthy despite monsoons during the quarter.
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