ACC Announces Quarterly Results (2QFY20); Net Profit Up 44.9%

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ACC Announces Quarterly Results (2QFY20); Net Profit Up 44.9%
Thu, 17 Oct

ACC has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

ACC Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m34,33241,49835,283-15.0%2.8%
Other incomeRs m327535508-5.0%55.2%
TurnoverRs m34,65942,03335,791-14.9%3.3%
ExpensesRs m29,89733,66829,712-11.7%-0.6%
Gross profitRs m4,4357,8305,571-28.9%25.6%
DepreciationRs m1,5081,4691,5123.0%0.3%
InterestRs m199199163-18.3%-18.5%
Profit before taxRs m3,0556,6984,404-34.2%44.2%
TaxRs m9892,1701,409-35.0%42.6%
Profit after taxRs m2,0674,5282,995-33.9%44.9%
Gross profit margin%12.918.915.8
Effective tax rate%32.432.432.0
Net profit margin%6.010.88.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 2.8% on a year-on-year (YoY) basis. The expenses were down by 0.6% YoY during the same period.
  • The company's operating profit increased by 25.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.8% in 2QFY20 as against 12.9% in 2QFY19.
  • Depreciation charges increased by 0.3% and finance costs declined by 18.5% YoY, respectively.
  • Other income increased by 55.2% YoY during the quarter.
  • Net profit for the quarter increased by 44.9% YoY. Net profit margins during the quarter increased from 6.0% in 2QFY19 to 8.4% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 15.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 11.7% QoQ during the same period.
  • The company's operating profit declined by 28.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.8% in 2QFY20 as against 18.9% in 1QFY19.
  • Net profit for the quarter declined by 33.9% QoQ, while net profit margins declined from 10.8% in 1QFY19 to 8.4% in 2QFY20.

To see how ACC has performed over the last eight quarters,please visit here.

Just Released: The No. 1 Stock to Buy in 2020

ACC Share Price Performance

Over the last one year,ACC share price has moved down from Rs 1,539.9 to Rs 1,533.6, registering a Loss of Rs 6.3 or around 0.4%.

Overall, the S&P BSE SENSEX is up 10.0% over the year.

Current Valuations

At the current price of Rs 1,533.6, the price to earnings (P/E) ratio of ACC stands at 15.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.7 times.

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