ACC Q1 results: Net Profit increased by 74.20% (YoY) to Rs. 563.00 Crores

ACC Q1 results: Net Profit increased by 74.20% (YoY) to Rs. 563.00 Crores

ACC Q1 results: It is formerly known as the Associated Cement Companies Limited, which is one of the largest cement producers in India located in Mumbai. Whereas the company works under the subsidiary of “LafargeHolcim”. In 2006, the name of the Associated Cement Companies changed into ACC Limited. The present chief executive officer (CEO) & managing director (MD) of the company is Sridhar Balakrishnan.

Meanwhile, on Tuesday, April 20th, the shares of the company plunged almost 1% in the stock market. The main reason for this the company reported its Q1 results for the financial year 2021-22. The companies standalone net profit increased by 74.20% Year-on-Year (YoY) to Rs. 563.00 crores during the quarter ended on March 31st, 2021.

Moreover, the companies total revenue from operations increased by 22.70% YoY to Rs. 4,213.00 crores as against Rs. 3,433.00 crores in the same period last year. The company profits and revenues are increased due to strong operating performance.

“The companies strong performance and teamwork which reflects in performance this quarter. We aim to continue driving the four stated strategic priorities: Performance, growth, innovation, and sustainability,” said Sridhar Balakrishnan, chief executive officer (CEO) and managing director (MD) of ACC Limited.

Whereas the companies sale volume raised by 21.56% to 7.97 million tonnes in Q1CY21 as against 6.56 million tonnes in the same period last year. The ready-mix concrete sales of the company declined to 0.83 million cubic metres as against 0.93 million cubic metres in the same period last year.

Brokerages on ACC

During this quarter, the earnings before interest, tax, depreciation, and amortization (EBITDA) of the company increased by 46.80% to Rs. 860 crores in Q1CY21. While the margins of the company expanded 330 basis points (bps) to 20.40% in this quarter ended on March 31st, 2021.

The companies operating EBIT during the quarter increased by 67.10% YoY to Rs. 717 crores. Due to CAPEX-led strong cost actions and higher growth in premium products raised 450 bps to 17% in Q1CY21, it said.

On the other side, the company formed a new griding unit located in Sindri, which will add almost 1.40 metric-tonnes per annum (MTPA) of capacity.

However, the shares of ACC Limited on Tuesday reported a bearish trend in the stock market. It lost 6.90points with an 0.37% decrease and reached 1,869.00 INR. While in BSE, the company lost 7.25 points with an 0.39% decrease and reached 1,869.60 INR.

Stock Market on April 20th:

On Tuesday, both Sensex and Nifty reported a bullish trend in the stock market after bearish reports in the last session of the market. The Sensex is trading above 48,000 levels and nifty trading above 14,400 levels in the stock market. The Sensex gained 120.65 points with a 0.25% increase and reached 48,070.65 levels. While the nifty gained 42.10 points with a 0.29% increase and reached 14,401.55 levels.

On the other side, the number of coronavirus cases in India on Tuesday, April 20th reached 1,53,21,089 with almost 1,80,530 deaths.

In the border markets, the S&P BSE Small-Cap index reported a bullish trend in the stock market on Tuesday. It gained 234.90 points with a 1.14% increase and reached 20,908.73 levels. But, the S&P BSE Midcap gained 281.58 points with a 1.42% increase and reached a 20,050.42 level. While the Nifty Bank gained 277.90 points with a 0.90% decrease and reached 31,488.85 level.

Top Gainers on April 20th: Dr. Reddy’s Laboratories, Bajaj Finance, Bajaj Finserv, IndusInd Bank, and HDFC Life are the top gainers in today’s stock market.

Top Losers on April 20th: HCL Technologies, UltraTech Cement, Shree Cements, HDFC, and Tech Mahindra are the top losers in today’s stock market.

The post ACC Q1 results: Net Profit increased by 74.20% (YoY) to Rs. 563.00 Crores appeared first on Stock Investor.

Original Article

Published
Categorized as Stock