ICICI Direct's research report on ACC
ACC (now Adani group conglomerate part) is a large cement player with capacity of over 34.5 MT in India and one of the oldest cement players in industry. ACC also manufactures ready-mix concrete and has 50 plants across India. ACC has a strong balance-sheet with debt free status • Ongoing capex of Rs 3500 crore would increase its capacity to 39.3 MT by CY22E. Grinding unit (GU) in Sindri & Tikaria has already been commissioned, balance 3.2 MT new capacity is progressing as per schedule.
We value ACC at Rs 2,900 i.e.11.5x CY23E EV/EBITDA.
At 17:30 ACC was quoting at Rs 2,408.55, up Rs 30.75, or 1.29 percent.
It has touched an intraday high of Rs 2,426.35 and an intraday low of Rs 2,356.00.
It was trading with volumes of 62,038 shares, compared to its thirty day average of 49,963 shares, an increase of 24.17 percent.
In the previous trading session, the share closed up 1.24 percent or Rs 29.10 at Rs 2,377.80.
The share touched its 52-week high Rs 2,784.95 and 52-week low Rs 1,900.50 on 14 September, 2022 and 07 March, 2022, respectively.
Currently, it is trading 13.52 percent below its 52-week high and 26.73 percent above its 52-week low.
Market capitalisation stands at Rs 45,229.50 crore.
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