ICICI Direct's research report on ACC
ACC’s Q4CY16 numbers were in line with our estimates. Revenues dipped 6.1% YoY to Rs 2,671.6 crore (vs I-direct estimate of Rs 2,705.7 crore) led by 9.2% YoY decrease in volumes to 5.5 mt (below I-direct estimate of 5.7 mt). Realisation increased 3.3% YoY to Rs 4,902/t (above I-direct estimate of Rs 4,724/t).
OutlookWe have modelled revenue CAGR of 15% in FY16-19E led by revenue CAGR of 15% from C&B segment. We roll over our valuation on FY19E and value the stock at 39x FY19E earnings with target price of Rs 775/share.
For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
