ACC Announces Quarterly Results (2QFY21); Net Profit Up 21.3%

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ACC Announces Quarterly Results (2QFY21); Net Profit Up 21.3%
Thu, 22 Oct

ACC has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

ACC Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m35,28326,02235,37335.9%0.3%
Other incomeRs m508513455-11.3%-10.4%
TurnoverRs m35,79126,53535,82835.0%0.1%
ExpensesRs m29,71220,76928,65938.0%-3.5%
Gross profitRs m5,5715,2546,71427.8%20.5%
DepreciationRs m1,5121,6271,608-1.1%6.4%
InterestRs m16313116022.6%-1.5%
Profit before taxRs m4,4044,0095,40134.7%22.6%
TaxRs m1,4091,3221,76833.8%25.5%
Profit after taxRs m2,9952,6873,63335.2%21.3%
Gross profit margin%15.820.219.0
Effective tax rate%32.033.032.7
Net profit margin%8.410.110.1
* 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 0.3% on a year-on-year (YoY) basis. The expenses were down by 3.5% YoY during the same period.
  • The company's operating profit increased by 20.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.0% in 2QFY21 as against 15.8% in 2QFY20.
  • Depreciation charges increased by 6.4% and finance costs declined by 1.5% YoY, respectively.
  • Other income declined by 10.4% YoY during the quarter.
  • Net profit for the quarter increased by 21.3% YoY. Net profit margins during the quarter increased from 8.4% in 2QFY20 to 10.1% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 35.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 38.0% QoQ during the same period.
  • The company's operating profit increased by 27.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.0% in 2QFY21 as against 20.2% in 1QFY20.
  • Net profit for the quarter increased by 35.2% QoQ, while net profit margins increased from 10.1% in 1QFY20 to 10.1% in 2QFY21.

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

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ACC Share Price Performance

Over the last one year, ACC share price has moved up from Rs 1,535.0 to Rs 1,610.0, registering a Gain of Rs 75.1 or around 4.9%.

Overall, the S&P BSE SENSEX is up 4.1% over the year.

Current Valuations

At the current price of Rs 1,610.0, the price to earnings (P/E) ratio of ACC stands at 24.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.6 times.

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