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ACC: Trouble spots pop up on earnings canvas

In the absence of any major cement price hikes, persistent raw material inflation and supply-chain constraints will drag the company's margins over the next 2-3 quarters

April 21, 2022 / 01:12 PM IST
ACC: Trouble spots pop up on earnings canvas

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The March quarter results of ACC, the third-largest cement manufacturer in India, triggered a negative set of sentiments. While cement volumes fell during the peak demand season, margin compression, owing to material inflation, continued. Result highlights ACC’s Q1CY22 was impacted by rising input costs, subdued cement off-take and Omicron-related movement restrictions.  The company reported revenues of Rs 4,426 crore in the quarter gone by. Revenue growth of 3 percent, year on year (YoY), was purely driven by an uptick in cement...

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