ACC LTD - RESULTS FOR - Q3 CY 2012 - Q/E SEP,2012 - NET SALES UP 12%; CONSOLIDATED NPT UP 52% YoY

ACC LIMITED

RESULTS FOR Q3 CY 2012

SEP,2012

ACC LTD has performed reasonably well in the third quarter ending Sep,2012.

Net sales stands at Rs.2555.9 Cr for Q3 CY12 ; down by -12.44% from preceding Qtr (Q2 CY12) of Rs.2918.98 Cr; and up by 11.9% from the corresponding Qtr of Q3 CY 11 (Rs.2284 Cr).

Total income stands at Rs.2586.5 cr in Q3 CY12; down by -12.59% from Q2 CY 12;(Rs.2958.96 Cr); and up by 8.54% from Q3 CY 11 (Rs.2383.02Cr)

Total expenses stands at Rs.2263.7 Cr for Q3 CY 12  ; down by -6.17% from Q2 CY 12 (Rs.2412.6 Cr); and up by 3.16% from Q3 CY11 (Rs.2194.43 Cr).Major increase is under cost of Materials and Depreciation.

Profit  from operations stands at Rs.322.55 Cr; down by -40.96% from Q2 CY 12 (Rs.546.36 Cr); and up by     71.03% from Q3 CY 11 (Rs.188.59 Cr).

Other income       stands at Rs.53.55 Cr; down by -31.79% from Q2 CY 12 (Rs.78.51 Cr); and down by -6.92% from Q1 CY 11 (Rs.57.53 Cr).

Profit before tax stands at Rs.350.3 Cr; down by -41.11% from Q2 CY 12 (Rs.594.8Cr); and up by 58.7% from Q1 CY 11 (Rs.220.73 Cr).

Tax expense        stands at Rs.109.77 Cr; down by -39.86% from Q2 CY 12 (Rs.182.52 Cr); and up by 72.05% from Q3 CY 11 (Rs.63.8Cr).

Net Profit stands at Rs.240.53 Cr ; down by -41.66% from Q2 CY 12 (Rs.412.28 Cr); and up by 53.27% from Q3 CY 11 (Rs.156.93 Cr).

Consolidated Net Profit stands at Rs.241.96 Cr; down by -41.63% from Q2 CY 12; (Rs.414.52 Cr); and up by     51.9% from Q3 CY 11 (Rs.159.29 Cr);

Face Value of ACC share is Rs.10.

Paid-up equity share capital stands at Rs.187.95 Cr.

EPS-Basic stands at Rs.12.89 for Q3 CY 12; Rs.22.08 for Q2 CY 12; and Rs.8.49 for Q3 CY 11.

EPS-Diluted stands at Rs.12.86; Rs.22.02 and Rs.8.47 for same periods.

Public holding in ACC stands at 93316236 shares, which account for 49.7%. 

                              

STAND ALONE RESULTS

Total income        stands at Rs.2473.92 Cr; down by -12.13% from Q2 CY 12 (Rs.2815.39 Cr); and up by 10.02% from Q3 CY 11(Rs.2248.67 Cr).

Profit before Tax stands at Rs.358.11 Cr; down by -40.4% from Q2 CY 12  (Rs.600.86 Cr); and up by          54.87% from Q3 CY 11(Rs.231.24 Cr).

Net Profit   stands at Rs.248.67 Cr; down by -40.5% from Q2 CY 12 (Rs.417.93 Cr); and up by          48.4% from Q3 CY 11(Rs. 167.57 Cr).

52 week high/low price : 1545.35/1082.30

CURRENT MARKET PRICE : 1425.45

Basic EPS for the 9 m/e Sep,2012 stands at Rs.43.04 (Rs.42.93 diluted); against Rs.44.61 for 9 m/e Sep. 2011 (44.51 diluted); and Rs.69.29 (69.12 diluted) for the y/e Dec,2011.

Judging by the speed of decisions now by the Government, the 4^th quarter can be expec

ted to be very good for all Cement companies including ACC.

CONSOLIDATED RESULTS - TABLE

ACC	Q3 CY 12	%Dif QoQ	Q2FY12	%Dif YoY	Q3CY2011
(a) Net sales	2555.9	-12.44	2918.98	11.9	2284
(b) Other operating income	30.35	-24.09	39.98	-69.35	99.02
Total income( a + b)	2586.5	-12.59	2958.96	8.54	2383.02
(a) Cost of materials consumed	375.18	-9.66	415.28	8.32	346.35
(b) Purchases of SIT	34.51	-16.3	41.23	-5.4	36.48
(c)Changes in inventories of FG, SIT, WIP	-38.01	-43.7	-67.51	164.14	-14.39
(d) Employee benefits expense	149.3	3.46	144.31	-0.88	150.62
(e) Depreciation and amortisation expense	143.52	-0.25	143.88	11.36	128.88
Total expenses	2263.7	-6.17	2412.6	3.16	2194.43
Profit  from operations	322.55	-40.96	546.36	71.03	188.59
Other income	53.55	-31.79	78.51	-6.92	57.53
Profit before finance costs	37610	-39.81	62487	70.38	22074.49
Finance costs	25.8	-14.2	30.07	1.61	25.39
Profit after finance costs	350.3	-41.11	594.8	58.7	220.73
Profit before tax	350.3	-41.11	594.8	58.7	220.73
Tax expense	109.77	-39.86	182.52	72.05	63.8
Net Profit	240.53	-41.66	412.28	53.27	156.93
Share of profit / (loss) of associates	145	-36.12	227	-38.03	234
Minority interest	2	-33.33	3	-200	-2
Consolidated Net Profit	241.96	-41.63	414.52	51.9	159.29
Face Value (in Rs.)	10	0	10	0	10
Paid-up equity share capital	187.95	0	187.95	0	187.95
EPS-Basic	12.89	-41.62	22.08	51.83	8.49
EPS-Diluted	12.86	-41.6	22.02	51.83	8.47
Public holding	93316236
public holding%	49.7
stand Alone
Total income	2473.92	-12.13	2815.39	10.02	2248.67
Profit before Tax	358.11	-40.4	600.86	54.87	231.24
Net Profit	248.67	-40.5	417.93	48.4	167.57

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AMBUJA CEMENTS LTD - RSULTS FOR - Q3 CY 2012 ENDING SEP,2012 - NET SALES UP 20% & NPT UP 77% YoY - EXPECTS GOOD 4TH QTR ALSO

AMUBUJA CEMENTS LIMITED

QUARTERLY RESULTS

FOR Q3 CY 2012

ENDING SEP,2012

Ambuja cements Limited has produced satisfactory results in the Q/e Sep’ 2012 compared to Q/e Sep,2011, but on sequential basis, the performance is below par, compared to  Q/e June,2012.

Net Sales for Q3 CY 12 stands at Rs.2168.35 Cr; down by -15.5% compared to preceding quarter (Q2 CY12 : Rs.2565.95 Cr); and up by 20.12% compared to the corresponding Qtr of previous Year (Q2 CY 11 : Rs.1805.10 Cr).

Total Expenditure  for Q3 CY 13 stands at Rs.1790.58 Cr; down by -8.88% compared to preceding quarter (Q2 : Rs.1965.11 Cr); and up by 10.38% compared to the corresponding Qtr of previous Year (Q2 CY 11 : Rs.1622.14 Cr).

EBITDA  stands at Rs.522 cr for Q3 CY 12 against Rs.304 cr in corresponding Qtr of last year ( + 71.7% increase). Profit before Tax has increased from Rs.255 cr same qtr last year(Q2 CY11  to Rs.457 cr ( + 79.5%) in Q2 CY 12.

Profit before Interest, Dep. & Taxes  for Q3 CY 12 stands at Rs.377.77 Cr; down by -37.13 % compared to preceding quarter (Q2 : Rs.600.84 Cr); and up by 106.48% compared to the corresponding Qtr of previous Year (Q2 CY 11 : Rs.182.96 Cr).

Net Profit   for Q3 CY 12 stands at Rs.303.97 Cr; down by -35.17% compared to preceding quarter (Q2 : Rs.468.90 Cr); and up by an impressive 77.26% compared to the corresponding Qtr of previous Year (Q2 CY 11 : Rs.171.48 Cr).

Diluted EPS  for Q3 CY 12 stands at Rs.1.97 compared to Rs.3.04 in the Q1 CY 12; and Rs.1.12 in Q3 CY 11. Overall, the company has produced good results and the company also expects a GOOD FOURTH QUARTER ENDING Dec,2012, despite cost pressures.

CURRENT MP : RS.206.45

Production  Statistics

ACL	IN LAKHS OF TONNES
	Cement	Cement
	Production	Despatch
September
2012	15.58	15.54
2011	14.61	14.81
January To September
2012	163.83	163.76
2011	154.39	154.17

OUTLOOK (From company) :

Monsoon being over, revival of demand is expected. Impact of recent hike in diesel prices on distribution cost and freight on internal movement of clinker are expected to keep pressure on Margins. ACL would continue its thrust in improving productivity and operational efficiency to mitigate cost increase pressures.

The detailed analysis in Tabular form for 5 quarters is presented in the table below :

Quarterly Results - Table

AMBUJA CEMENTS	30-Sep-12	%DIF QoQ	30-Jun-12	%DIF YoY	30-Sep-11	31-Mar-12	31-Dec-11
Net Sales	216835	-15.5	256595	20.12	180510	263331	232911
Total Expenditure	179058	-8.88	196511	10.38	162214	200973	203186
Profit before Interest, Dep. & Taxes	37777	-37.13	60084	106.48	18296	62358	29725
Net Profit	30397	-35.17	46890	77.26	17148	31222	30240
Diluted EPS	1.97	-35.2	3.04	75.89	1.12	2.03	1.97
Changes in inventories of FGs, WIP,SIT	-10273	75.88	-5841	-1083.06	1045	-2042	18321
Materials consumed	71125	-8.06	77359	13.13	62871	81267	62387
Employee benefits expense	11512	-6.94	12371	11.54	10321	10303	12545
Depreciation	13730	13	12150	27.28	10787	12089	12380
Other expenses	92964	-7.47	100472	20.44	77190	99356	97553
Total expenses	179058	-8.88	196511	10.38	162214	200973	203186
Profit before tax	45747	-32.09	67361	79.51	25484	44235	35682
Tax Expenses	15350	-25.02	20471	84.14	8336	13013	5442
Net Profit	30397	-35.17	46890	77.26	17148	31222	30240
Face Value (Rs )	2	0	2	0	2	2	2
Paid-up Equity	30799	0.12	30763	0.48	30653	30701	30687
Basic EPS	1.97	-35.41	3.05	75.89	1.12	2.03	1.97
Diluted EPS	1.97	-35.2	3.04	75.89	1.12	2.03	1.97
Public holding (%)	46.9	-0.64	47.2	-2.29	48	47.08	47

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