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    ACC: Why we repose faith in the long-term thesis

    Its market leadership position, operating efficiencies and a robust balance sheet should help ACC withstand demand fluctuations until market conditions stabilise

    Sachin Pal
    April 27, 2021 / 10:24 AM IST
    ACC: Why we repose faith in the long-term thesis

    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 very good Q1 CY21 on the back of a continued strength in housing and infrastructure segments. While the company continues to perform well across its major business segments, the strong financial positioning should help it to withstand the possible damage being caused by the second wave of the pandemic. Quarter result highlights ACC’s revenue growth of 23 per cent year-on-year (YoY) was driven by strong consumer demand in southern and eastern markets. Volumes came in...

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