ACC Limited
NSE Symbol ACC
RESULTS FOR Q3 CY 2011
3RD QTR ENDING
SEP,2011
ACC LTD has performed well
in the 3rd quarter ending September, 2011compared to the q/e Sep,2010.
Net Sales
in Q3 CY 11 stands at Rs.2283.42 Cr – compared to Rs.2538.97 Cr in the
preceding Qtr of Q2 CY 11 (down by -10.07%); and Rs.1759.18 cr in the
corresponding Qtr of Q3 CY 10 (Up
by 29.8%).
Raw Materials in Q3 CY 11 stands
at Rs.998.99 Cr – compared to Rs.1038.45 Cr in the preceding qtr of Q2 CY 11
(down by -3.80%) and Rs.690.01 Cr in the corresponding Qtr of Q3 CY 10 (up by 44.78%).
Other Expenditure in Q3 CY 11 stands
at Rs.896.39 Cr –compared to Rs.890.33 cr in Q2 CY11 (up by 0.68%) and Rs.692.15
cr in Q3 CY10 (Up by 29.51%).
Total Expenditure in Q3 CY11 stands
at Rs.2194.35 Cr – compared to Rs.2116.12 Cr in preceding Qtr (up by 3.70%) –
and Rs.1694.25 Cr in corresponding qtr (Up by 29.52%)
Profit from Operations in Q3 CY 11 stands
at Rs.188.49 Cr – compared to Rs.453.73 cr in preceding Qtr (down by -58.46%)
and Rs.117.31 cr in corresponding Qtr (Up by 60.67%).
Profit before tax in Q3 CY 11 stands
at Rs.220.74 Cr compared to Rs.473.05 Cr in preceding Qtr (down by -53.34%) and
Rs.130.05 Cr in corresponding qtr (up by a good 69.74%).
Net Profit in Q3 CY 11 stands at Rs.156.95 Cr – compared to Rs.325.24
Cr in preceding Qtr (down by -51.74%) and Rs.86.31Cr in corresponding Qtr (up
by 81.84%).
Consolidated Net Profit stands at Rs.159.31
Cr – compared to Rs.328.12 in preceding qtr (down by -51.45%) – and Rs.86.31 Cr
in corresponding Qtr (Up by 84.58%).
Basic EPS in Q3 CY 11 stands
at Rs.8.49 on a Face Value of Rs.10 – compared to Rs.17.48 in the preceding qtr
(down by -51.43%) – and Rs.4.6 in the
corresponding qtr ( up by 84.57%).
The total EPS for the year 2011 will
be around (18.65 for Q1+17.48 for Q2+Rs.8.49 for Q3+ 8.49 assumed for Q4)
=Rs.53.11 for Calendar year 2011.
CY 2010 annual EPS was Rs.57.39. Since
all quarters now are clocking higher EPS than corresponding qtrs – current annual
EPS could be around Rs.57-58 or more.
Current Market Price is Rs.1139.75;
while the 52 week high price is Rs.1237.4 and 52 week low price is Rs.917.60. The current Price Earning
Ratio works out to 21.46.
Cement Despatches in CY
2011 have been higher than 2010.
November– 2011
Cement production : 1.83
million tones; Despatches : 1.83 million
tonnes
November– 2010
Cement production : 1.76
million tones; Despatches :1.74 million tonnes
Cumulative
January – November 2011
Cement production : 21.63
million tones; Despatches: 21.59 million tonnes
January – November 2010
Cement production : 19.31
million tones: Despatches : 19.24 million tonnes
ACC says – that the
results for the quarter and nine months ended September 30, 2011 are not strictly
comparable with the corresponding previous period due to the following:
i)
100% investment in
Encore Cement & Additives Private Limited w.e.f. January 28, 2010.
ii)
45% investment in Asian Concretes
and Cements Private Limited w.e.f. April 01, 2010
iii)
The ACC Concrete Limited, a wholly owned subsidiary
of Company has acquired 40% stake in Aakaash Manufacturing Private Limited
w.e.f. March 25, 2011 for a total consideration of ` 558.62 Lakhs, a Company engaged in manufacturing of
Ready Mixed Concrete.
iv)
The effect
of the operations of these entities on the results is not significant.
In the overall
Assessment – in the Cement sector, ACC is one of the Star Performers. In 2012,
Infrastructure sector is likely to pick up speed. Many Infra companies are
sitting on huge orders. If RBI reduces Interest rates, Building Industry also
will pick up. Hence, the performance of ACC in 2012 can be expected to be
better than 2011.
CONSOLIDATED RESULTS
TABLE
|
Q3CY11
|
% Dif
|
% Dif
|
|||
|
Net Sales
|
228,341.84
|
253,897.11
|
-10.07
|
175,917.88
|
29.8
|
|
Other Oprtg Income
|
9,942.52
|
3,087.76
|
222.00
|
5,238.81
|
89.79
|
|
Increase in SIT/WIP
|
-1,438.67
|
-10,991.96
|
-86.91
|
5,618.20
|
-125.61
|
|
Raw Materials
|
99,899.06
|
103,844.64
|
-3.80
|
69,000.74
|
44.78
|
|
Traded goods
|
3,647.45
|
4,262.49
|
-14.43
|
2,879.92
|
26.65
|
|
Employees Cost
|
14,800.98
|
12,998.11
|
13.87
|
12,687.31
|
16.66
|
|
Depreciation
|
12,887.62
|
12,465.71
|
3.38
|
10,024.07
|
28.57
|
|
Other Expenditure
|
89,638.67
|
89,033.13
|
0.68
|
69,215.14
|
29.51
|
|
Total Expenditure
|
219,435.11
|
211,612.12
|
3.70
|
169,425.38
|
29.52
|
|
Profit from Operations
|
18,849.25
|
45,372.75
|
-58.46
|
11,731.31
|
60.67
|
|
Other Income
|
5,758.84
|
4,642.62
|
24.04
|
2,916.28
|
97.47
|
|
Interest
|
2,533.60
|
2,710.26
|
-6.52
|
1,642.36
|
54.27
|
|
Profit before tax
|
22,074.49
|
47,305.11
|
-53.34
|
13,005.23
|
69.74
|
|
Tax Expense
|
6,379.81
|
14,781.30
|
-56.84
|
4,374.36
|
45.85
|
|
Net Profit
|
15,694.68
|
32,523.81
|
-51.74
|
8,630.87
|
81.84
|
|
Minority Interest
|
-1.87
|
3.29
|
-156.84
|
-
|
|
|
Shares of Associates
|
-234.44
|
-291.18
|
-19.49
|
-
|
|
|
Consolidated Net Profit
|
15,930.99
|
32,811.70
|
-51.45
|
8,630.87
|
84.58
|
|
Face Value (in Rs.)
|
10
|
10
|
0.00
|
10
|
0
|
|
Paid-up Equity
|
18,794.54
|
18,795.10
|
0.00
|
18,794.06
|
0
|
|
Basic EPS
|
8.49
|
17.48
|
-51.43
|
4.6
|
84.57
|
|
Diluted EPS
|
8.47
|
17.44
|
-51.43
|
4.59
|
84.53
|
|
Public holding (%)
|
49.7
|
49.7
|
0.00
|
53.8
|
-7.62
|
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* E N D *
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