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LOW DEBT
Healthy Growth in ACC
Long Term Operating Profits
Buy
Very Positive
Results in Jun 21
CMP: 2,326.60
Bullish STOCK INFO:
Technical Trend BSE – 500410/ NSE – ACC
Market Cap - Large Cap (Rs. 43,691 cr)
Sector – Cement
High (33.15%) 52 w H/L (Rs.) – 2506.4/1295.3
Dividend Yield: 0.58%
Institutional Holding Debt Equity: -0.42%
Return on Equity: 15.79%
Price to Book: 3.31
www.marketsmojo.com
ACC
CMP: 2,326.60 Buy 78
Report as on 20 September 2021 at 04:18 PM
Strong Sell Sell Hold Buy Strong Buy
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O 19
Ja 2 0
21
Fe 1 9
Au 9
Se 0
Au 1
Ju 0
D -1 9
Ap 20
Ju 2 0
M -1 9
M -2 1
M -1 9
N -1 8
Ju 9
M -2 1
N -2 0
Ju 1
l- 1
l- 2
l- 2
2
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-It is ranked 29 across all Large Cap and 89 across ACC Ltd SENSEX
the entire market
Period 6M 1Y 2Y 3Y
WHAT ARE YOUR RISKS? Stock (%) 33.59% 63.54% 44.1% 51.64%
With ROE of 15.8, it has a Expensive valuation with a Sector (%) 19.04% 19.04% 78.08% 62.48%
3.3 Price to Book Value
Sensex (%) 17.31% 50.57% 53.86% 57.57%
-The stock is trading at a premium compared to its
average historical valuations
-Over the past year, while the stock has generated a
return of 62.52%, its profits have risen by 83.3% ; the
PEG ratio of the company is 0.3
MOJO PROFESSIONAL 1
ACC BUY | Report as on 20 September 2021 at 04:18 PM
Click Here
MOJO PROFESSIONAL 2
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MANAGEMENT RISK
ROE
The company has been able to generate a Return on Equity
11.95% ROE
(avg) of 11.95% signifying average profitability per unit of
shareholders funds
Tax Ratio
High Tax Ratio signifies that the profits generated by the
16.07% Tax Ratio
company are real and it is making adequate contributions
towards by paying due taxes
Institutional Holding
High Institutional Holdings at 33.15%- These investors have
33.15%
Institutional Holding
better capability and resources to analyse fundamentals of
companies than most retail investors
MOJO PROFESSIONAL 3
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CAPITAL STRUCTURE
MOJO PROFESSIONAL 4
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GROWTH
of 6.6% CAGR
6.6% 15,328 15,858
15000Cr 14,083 13,692
Net Sales has seen a high growth of
CAGR 15.82% over previous period
11,517 11,800
10000Cr
5000Cr
0Cr
Jun 2016 Jun 2017 Jun 2018 Jun 2019 Jun 2020 Jun 2021
971
1000Cr 888
0Cr
Jun 2016 Jun 2017 Jun 2018 Jun 2019 Jun 2020 Jun 2021
CAGR 2000Cr
1,743
1,169
966
1000Cr
695 754
0Cr
Jun 2016 Jun 2017 Jun 2018 Jun 2019 Jun 2020 Jun 2021
MOJO PROFESSIONAL 5
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FINANCIAL TREND
Positive
RESULTS IN JUN 21
Near term PBT trend is positive 705.78 709.47
PBT - Quarterly
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
MOJO PROFESSIONAL 6
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FINANCIAL TREND
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
23.4%
562.57 569.42
PAT (Rs Cr)
At Rs 569.42 cr has Grown at 23.4 %
363.84
PAT Growth over average PAT of the previous four quarters of Rs
270.92
461.44 Cr
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
MOJO PROFESSIONAL 7
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FINANCIAL TREND
shareholders 25.13
cr 19.35
EPS (Rs) 14.41
Earnings per Highest at Rs 30.29
Share (EPS) - in the last five quarters
Quarterly
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
MOJO PROFESSIONAL 8
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TECHNICALS
In the last 1 year Stock has generated 68.88% returns vs a market (BSE 500)
return of 55.12%
3 Months 1 Year 3 Years
14.65% 55.77%
62.52% 48.92%
10.61% 55.12%
MOJO PROFESSIONAL 9
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SHAREHOLDING
20%
10%
0%
Mar 20 Jun 20 Sep 20 Dec 20 Mar 21 Jun 21
Mutual Funds
8.46%
FIIs
13.67%
Shareholding Snapshot : Jun 21
Non Institut… Majority shareholders : Promoters
12.33%
Pledged Promoter Holdings : None
Other DIIs
11.02% Mutual Funds : Held in 37.00 Schemes (8.46%)
FIIs : Held by 471 FIIs (13.67%)
Promoters
54.53% Promoter with highest holding : Ambuja Cements Limited (50.048%)
Highest Public shareholder : Lici New Endowment Plus-balanced Fund
(5.865%)
Individual Investors Holdings : 9.64%
FII
15%
13.67%
12.74%
11.64%
holding has increased by 0.93%
10%
Number of FIIs holding stake in the company has 8.14%
increased to 471 from 419 6.70%
5%
0%
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
MOJO PROFESSIONAL 10
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MOJOSTOCK
Size - Ranks 5th out of 34 companies At the current stock price and
in Cement sector financial performance the stock
Good has Expensive valuation Expensive
MOJO PROFESSIONAL 11
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FACTORS
NOT WORKING
FOR THE COMPANY
MOJO PROFESSIONAL 12
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VALUATION
Expensive UltraTech
Shree Cement
Cem.
valuation
ACC
Grasim Inds
Expensive 20 3.6
Fundamental
Valuation
as compared to its 10 2.8
past valuations 0 2
6
0
17
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MOJO PROFESSIONAL 13
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RESULT
ANALYSIS
MOJO PROFESSIONAL 14
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QUARTERLY VARIANCE
Margins
Jun'21 Mar'21 Dec'20 Sep'20 Jun'20 Avg. (4 Comments
Qtrs)
OPM 22.8% 20.4% 14.1% 19.4% 20.9% 18.7% Higher than average (4 Qtrs) – Promising
GPM 23.7% 21.2% 10.9% 20.2% 22.4% 18.7% Higher than average (4 Qtrs) – Promising
NPM 14.9% 13.4% 11.6% 10.5% 10.8% 11.6% Higher than average (4 Qtrs) – Promising
MOJO PROFESSIONAL 15
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ANNUAL RESULT
Net Sales-YoY Growth in year ended Dec 2020 is -11.95% Consolidated Net Profit-YoY Growth in year ended Dec 2020
is 3.83%
20000
14,801.62 15,657.55 15,657.55
13,785.98 13,785.98 2000
1,520.47 1,430.18 1,430.18
1,377.41 1,377.41
10000
1000
0
Dec 2018 Mar 2019 Dec 2019 Mar 2020 Dec 2020 0
Dec 2018 Mar 2019 Dec 2019 Mar 2020 Dec 2020
Operating Profit (PBDIT) excl Other Income-YoY Growth in Operating Profit Margin (Excl OI)-YoY Growth in year ended
year ended Dec 2020 is -2.39% Dec 2020 has improved from Dec 2019
4000 20 17.46 17.46
15.73 15.73
14.15
2,412.78 2,412.78 2,355.11 2,355.11
2,048.12
2000 10
0 0
Dec 2018 Mar 2019 Dec 2019 Mar 2020 Dec 2020 Dec 2018 Mar 2019 Dec 2019 Mar 2020 Dec 2020
Figures in Rs Crore
MOJO PROFESSIONAL 16
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0.0% Borrowings
Dec'20
0.00
Dec'19
0.00
Change%
Increase
Other Long Term Liabilities 83.98 0.00
Fixed Assets 7,102.47 7,456.83 -4.75%
Investments 129.27 116.18 11.27%
in Borrowings in quarter Current Assets 8,448.63 7,534.57 12.13%
ended Dec 2020 vs in
Figures in Rs Cr
Dec 2019
Other Long Term Liabilities: No Other Long Term Liabilities in the last few periods;
Fixed Assets: YoY Growth in year ended Dec 2020 is -4.75% vs -0.18% in Dec 2019
Investments: YoY Growth in year ended Dec 2020 is 11.27% vs 11.60% in Dec 2019
Current Assets: YoY Growth in year ended Dec 2020 is 12.13% vs 12.72% in Dec 2019
3000
2,254.71 2,219.19
2000
1,554.45
1,389.54
1,117.54
1000
0
Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020
MOJO PROFESSIONAL 17
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PEER COMPARISION
PEER COMPARISON
ACC Grasim Inds Ambuja Dalmia J K Cements
Cements BharatLtd
Size
Market Cap (Cr.) 43,678 101,067 81,372 41,568 25,306
Annual Sales (TTM) (Cr.) 15,859 83,705 28,315 11,137 7,315
Annual Net Profit (TTM) (Cr.) 2,144 5,945 3,354 1,268 848
Growth Factors (TTM)
Net Sales Growth 1 year 15.8% 18.7% 17.5% 22.2% 37%
Operating Profit Growth 1 year 49.9% 47.4% 61.4% 199.1% 71.8%
Net Profit Growth 1 year 83.3% 23% 68.7% 374.9% 100.2%
Net Sales Growth 5 year 6.6% 18.9% 13.2% 7.4% 15.7%
Operating Profit Growth 5 year 21.6% 27% 29% 44.9% 39%
Net Profit Growth 5 year 25.3% 16.4% 28.5% 77.6% 54.1%
Capital Structure Factors
EBIT to Interest 40.8 3.1 35.8 5.6 5.7
MOJO PROFESSIONAL 18
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COMPANY BACKGROUND
COMPANY BACKGROUND
Board of Directors
N S Sekhsaria Chairman (Non-Executive)
Company Coordinates
MOJO PROFESSIONAL 19
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MOJO PROFESSIONAL 21