Arihant Capital recommended accumulate rating on ACC with a target price of Rs 1871 in its research report dated April 23, 2019.
Arihant Capital's research report on ACC
ACC came out with mixed set of numbers in Q1CY19, PAT was ahead of our estimate though revenue & EBITDA were below our estimate. Revenue grew 8.1% YoY to Rs 3,919 cr against our estimate of Rs 3,941 cr. EBITDA stood at Rs 532 cr against our estimate of Rs 575 cr. EBITDA margin was flat at 13.6%, which was below our estimate of 14.6%. PAT for the quarter stood at Rs 346 cr ahead of our estimate of Rs 303 cr. Volume growth was decent at 5.5% YoY while realisation improved 3.3% YoY to Rs 4690/ton.
Outlook
We are positive on ACC from longer term perspective, and maintain our Accumulate rating on the stock with a revised target price of Rs 1871.
For all recommendations report, click here
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