Higher volume and lower Opext led EBITDA beat

Company
29 Jan 2024
5 Min read 
  • ACC reported strong 3QFY24 results with EBITDA beating estimates by 34%/27%.
  •  Sales volume grew 15% YoY, exceeding estimates by 11%.
  •  The company commissioned a grinding capacity of 1mtpa at Ametha, Madhya Pradesh.
  •  EBITDA per ton doubled YoY to INR1,017.
  •  ACC expects cement demand to grow at 7-8% YoY.
  •  The stock is rated as Neutral with a revised target price of INR2,550.
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