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    ACC: Q3 earnings underpin a positive outlook

    With revenues returning to pre-COVID levels, ACC has structurally improved its underlying profitability, and therefore, could surprise on the upside

    Sachin Pal
    October 29, 2020 / 08:44 PM IST
    ACC: Q3 earnings underpin a positive outlook

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    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

    Cement manufacturer ACC reported a strong Q3CY20 results despite the negative effects of the coronavirus. The quarterly earnings were quite upbeat, with revenues, margins and profits much better than expected. While the company continues to perform well across its major business segments, the strong financial positioning will help it endure the damage caused by the pandemic. Quarter result highlights Revenues were flat compared with the year-ago period. Volumes surprised positively and came in at 6.5 metric tonnes — up 2 per...

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