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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

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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