ACC
LIMITED
YR (JAN-DEC)
=2009,2008,2007=
COMPARISON OF RESULTS
CONSOLIDATED
The consolidated financial results of ACC Limited, the premier cement company of India for the years 2009,2008,and 2007 are compared below (from January to December).
Net Sales have increased to Rs.8479.55 cr in 2009 from Rs.7719.69 Cr in 2008 (an increase of 10%) and from Rs.7067.43 Cr in 2007 (an increase of 20%)
Total Expenditure has increased to Rs.6390.35 Cr in 2009 from Rs.6377.78 Cr in 2008 (+0%) and from Rs.5449.48 Cr in 2007 (+%17)
Consolidated Net Profit has therefore increased to Rs.1564 cr in 2009 from Rs.1099.65 Cr in 2008 (an increase of 42%) and from Rs.1427.34 cr in 2007 (an increase of 10%).
Basic EPS(Rs.) has thus increased to Rs.83.32 in 2009 from Rs.58.6 in 2008 and from Rs.76.76 in 2007 – on a face value of Rs.10.
Thus compared to 2008, the profitability has gone up considerably in 2008 on a consolidated basis, the improvement is not that significant compared to 2007.
However, considering the increasing competition in cement industry, the performance of ACC can be considered as much above Industry standards.
The public shareholding in the company is around 53%.
ACC is currently quoting at MP of Rs.854/- which gives PE Ratio of 10.25 on consolidated EPS of Rs.83.32 and 9.98 on stand alone EPS of Rs.85.6.
While on this level of EPS, the PE ratio and the Market price are definitely LOW, it may reflect market sentiment towards cement Industry – which is expanding faster than demand.
We can see from statistics under Qtrly results that production and despatches in first half of 2010 are lower than the comparable period of 2009. First Qtr results of Jan-March2010 are also on same lines.
JAN DEC 09 | Dif%1 | Dif%2 | |||
Net Sales | 847955.27 | 771969.41 | 706743 | 10 | 20 |
Other Optg Income | 16539.98 | 16652 | 12200 | -1 | 36 |
SIT WIP | -2873.99 | 196.25 | 117 | -1564 | -2556 |
Raw Materials | 271856.79 | 264162 | 204715 | 3 | 33 |
Traded goods | 12915.65 | 12293.87 | 9331 | 5 | 38 |
Employ. Cost | 40120 | 44637.2 | 35656 | -10 | 13 |
Depreciation | 37312.88 | 32053.62 | 31302 | 16 | 19 |
Other Expdr | 279703.8 | 284435.93 | 263827 | -2 | 6 |
Total Expdr | 639035.13 | 637778.87 | 544948 | 0 | 17 |
OP.PFT | 225460.12 | 150842.54 | 49 | ||
Other Income | 8045.99 | 11382.76 | -29 | ||
P BIEI | 233506.11 | 162225.3 | 44 | ||
Interest | 8436 | 3998.5 | 2437 | 111 | 246 |
P A I B EI | 225070.11 | 158226.8 | 42 | ||
Except. items | - | -4254.85 | -20985 | ||
Profit before tax | 225070.11 | 162481.65 | 192543 | 39 | 17 |
Tax Expense | 68679 | 52517 | 49809 | 31 | 38 |
NPT after tax | 156391.11 | 109964.65 | 142734 | 42 | 10 |
Net Profit | 156391.11 | 109964.65 | 142734 | 42 | 10 |
Consolidated NPT | 156391.11 | 109964.65 | 142734 | 42 | 10 |
Dividend (%) | - | - | - | ||
Face Value (in Rs.) | 10 | 10 | 10 | 0 | 0 |
Paid-up Equity | 18794 | 18788 | 18783 | 0 | 0 |
Reserves | 568192 | 463637 | 397444 | 23 | 43 |
Basic EPS(Rs.) | 83.32 | 58.6 | 76.76 | 42 | 9 |
Diluted EPS(Rs.) | 83.14 | 58.51 | 75.85 | 42 | 10 |
Public holding (%) | 53.8 | 53.07 | 57.02 | 1 | -6 |
STAND ALONE
RESULTS
The stand alone results also reflect similar pattern.
Net Sales in 2009 is Rs.8027 Cr compared to Rs.7309 Cr in 2008 (+10%) and compared to Rs.7007Cr in 2007 (+15%).
Net Profit has increased to Rs.1607 Cr in 2009, compared to Rs.1213 Cr in 2008 (+32%) and compared to Rs.1439 Cr in 2007 (+12%).
The stand alone Basic EPS in 2009 is Rs.85.6 compared to Rs.64.63 in 2008 and compared to Rs.76.75 in 2007.
While the results are much above Industry standards, it is to be said that competition is bound to increase in coming years – even though demand also is increasing.
ACC Nonconsol | jan dec 09 | jan dec 08 | jan dec 07 | Dif%1 | Dif%2 |
Net Sales | 802719.87 | 730862.32 | 700717 | 10 | 15 |
Other OptgIncome | 16369.93 | 16553 | 12880 | -1 | 27 |
SIT & WIP | -2874.06 | -33.22 | -693 | 8552 | 315 |
Raw Materials | 243116.19 | 239808.24 | 201136 | 1 | 21 |
Traded goods | 9316.47 | 8735.93 | 9331 | 7 | 0 |
Empl. Cost | 36771.51 | 41304.07 | 35273 | -11 | 4 |
Depreciation | 34208.97 | 29418.06 | 30507 | 16 | 12 |
Other Expdr | 268422.44 | 267730.58 | 263931 | 0 | 2 |
Total Expdr | 588961.52 | 586963.66 | 539485 | 0 | 9 |
PORT.PRFT | 230128.28 | 160451.66 | 43 | ||
Other Income | 7741.13 | 12318 | -37 | ||
P B I EI | 237869.41 | 172769.66 | 38 | ||
Interest | 8430.06 | 3996.47 | 2394 | 111 | 252 |
Pr . AF In. BE. EI | 229439.35 | 168773.19 | 36 | ||
Exceptional items | - | -4886.24 | -21311 | ||
P B T | 229439.35 | 173659.43 | 193029 | 32 | 19 |
Tax Expense | 68766 | 52381 | 49170 | 31 | 40 |
NPT after tax | 160673.35 | 121278.43 | 143859 | 32 | 12 |
Extraordinary Items | - | - | - | ||
Net Profit | 160673.35 | 121278.43 | 143859 | 32 | 12 |
Dividend (%) | 230 | 200 | 100 | 15 | 130 |
Face Value (in Rs.) | 10 | 10 | 10 | 0 | 0 |
Paid-up Equity | 18794 | 18788 | 18783 | 0 | 0 |
Reserves | 582820 | 473985 | 396478 | 23 | 47 |
Basic EPS | 85.6 | 64.63 | 76.75 | 32 | 12 |
Diluted EPS | 85.42 | 64.53 | 76.45 | 32 | 12 |
Public holding (%) | 53.8 | 53.07 | 57.02 | 1 | -6 |
QUARTERLY
RESULTS
The quarterly results for the first quarter of 2010 (Jan-March) is mixed compared to previous quarters – with increased sales, static profits and static EPS.
The company has given its cement production and dispatch for the period of Jan-June2010. It is slightly less than the comparable period of 2009.
We need to therefore watch the remaining 6 month performance also.
June2010 Cement production = 1.78 m.tonnes
Upto June2010,, ,, ,, =10.94 ,,
June2009 cement production = 1.82 ,,
Upto June 2009 ,, =11.07 ,, ,,
June 2010 cement despatches = 1.78 m tonnes
Upto June2010 , ,, , = 10.98 ,,
June 2009 cement despatches = 1.81 ,,
Upto June2009 ,, ,, = 11.06 ,,
Mar-10 | Sep-09 | Jun-09 | Mar-09 | Sep-08 | |
Net Sales | 210181.02 | 196939.49 | 208125.55 | 205508.97 | 180457.42 |
Depreciation | 9352.89 | 7957.58 | 7839.7 | 7892.97 | 7364.37 |
Other Expdr | 69069.17 | 63393.04 | 62873.36 | 63226.98 | 69664.92 |
Total Expenditure | 157310.87 | 138106.35 | 142595.5 | 148663.27 | 144005.35 |
Other Income | 2642.61 | 1477.78 | 1839.27 | 2420.45 | 1809.5 |
Interest6 | 1274.63 | 1350.95 | 1594.77 | 3678.84 | 1159.45 |
Tax expense | 17172 | 19003.94 | 21072.63 | 17772 | 13556.78 |
Net Profit | 40512.87 | 43563.39 | 48561.93 | 40476.37 | 28343.49 |
Dividend (%) | - | - | 100 | - | - |
Face Value. Rs | 10 | 10 | 10 | 10 | 10 |
Paid Up Equity | 18794.06 | 18790.86 | 18789.06 | 18789 | 18785.92 |
Reserves | - | - | - | - | - |
Basic EPS | 21.58 | 23.21 | 25.87 | 21.57 | 15.1 |
Diluted EPS | 21.53 | 23.16 | 25.83 | 21.54 | 15.07 |
Announcements
To The
Exchange
01-07-2010 Acc Limited has informed the Exchange regarding a media release dated July 01, 2010 titled "ACC Media Release - Cement Production and Despatches in June 2010".
30-06-2010 Acc Limited has informed the Exchange that Mr Sumit Banerjee, Managing Director of the Company has submitted his resignation to the Company. His resignation and the appointment of his successor will be considered by the Board at the next meeting of the Directors of the Company being scheduled in the third week / end of July 2010. -
08-06-2010 Acc Limited has informed the Exchange regarding a Press Release dated June 08, 2010 titled "ACC honoured with FE-EVI Green Business Leadership Award 2009-10".
31-05-2010 Acc Limited has informed the Exchange regarding a press release dated May 31, 2010, titled "ACC setting up Mega Cement Project in Chandrapur District, Maharashtra".
05-05-2010 Acc Limited has submitted to the Exchange a copy of the minutes of the Annual General Meeting of the Company held on April 08, 2010.
22-04-2010 Acc Limited has informed the Exchange regarding a media release dated April 22, 2010, titled "Consolidated Results for the 1st Quarter ended March 31, 2010". A copy of the media release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here. -
22-04-2010 ACC Limited has informed the Exchange regarding the consolidated Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 224037.78 lacs for quarter ending on 31-MAR-2010 against Rs. 216399.79 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 39287.9 lacs for the quarter ending on 31-MAR-2010 against Rs. 39934.15 lacs for the quarter ending on 31-MAR-2009. -
22-04-2010 ACC Limited has informed the Exchange regarding the standalone Results for the quarter ended on 31-MAR-2010 as follows: Net Sales of Rs. 210181.02 lacs for quarter ending on 31-MAR-2010 against Rs. 205508.97 lacs for the quarter ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 40512.87 lacs for the quarter ending on 31-MAR-2010 against Rs. 40476.37 lacs for the quarter ending on 31-MAR-2009. -
09-04-2010 Acc Limited has informed the Exchange regarding a media release dated April 09, 2010, titled "ACC Commissions Wind Energy Farm near Satara in Maharashtra". A copy of the media release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.
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