Performance in line; volume surprised positively

Company
26 Apr 2024
5 Min read 
  • ACC 4QFY24 results update with financials and valuations.
  •  Cement sales volume grew 23.5% YoY in 4Q.
  •  EBITDA grew ~80% YoY to INR8.4b in 4QFY24.
  •  Realization declined 7% QoQ; EBITDA/t came in at INR802.
  •  ACC targets to increase green energy share to 60% by FY28.
  •  ACC trades at reasonable valuations of 11.5x/10x FY25E/FY26E EV/EBITDA.
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