ACC Announces Quarterly Results (4QFY20); Net Profit Down 6.4%

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ACC Announces Quarterly Results (4QFY20); Net Profit Down 6.4%
Fri, 24 Apr

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

ACC Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m39,19140,60335,017-13.8%-10.7%
Other incomeRs m1,566575559-2.8%-64.3%
TurnoverRs m40,75741,17935,576-13.6%-12.7%
ExpensesRs m33,87435,19429,152-17.2%-13.9%
Gross profitRs m5,3175,4105,8658.4%10.3%
DepreciationRs m1,4761,6081,580-1.8%7.0%
InterestRs m209293106-63.8%-49.2%
Profit before taxRs m5,1994,0844,73916.0%-8.9%
TaxRs m1,7711,4001,5319.3%-13.6%
Profit after taxRs m3,4282,6843,20819.5%-6.4%
Gross profit margin%13.613.316.7
Effective tax rate%34.134.332.3
Net profit margin%8.46.59.0
* 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 fell 10.7% on a year-on-year (YoY) basis. The expenses were down by 13.9% YoY during the same period.
  • The company's operating profit increased by 10.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.7% in 4QFY20 as against 13.6% in 4QFY19.
  • Depreciation charges increased by 7.0% and finance costs declined by 49.2% YoY, respectively.
  • Other income declined by 64.3% YoY during the quarter.
  • Net profit for the quarter declined by 6.4% YoY. Net profit margins during the quarter increased from 8.4% in 4QFY19 to 9.0% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 13.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 17.2% QoQ during the same period.
  • The company's operating profit increased by 8.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.7% in 4QFY20 as against 13.3% in 3QFY19.
  • Net profit for the quarter increased by 19.5% QoQ, while net profit margins increased from 6.5% in 3QFY19 to 9.0% in 4QFY20.

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 down from Rs 1,606.9 to Rs 1,166.2, registering a Loss of Rs 440.8 or around 27.4%.

Overall, the S&P BSE SENSEX is down 17.9% over the year.

Current Valuations

At the current price of Rs 1,166.2, the price to earnings (P/E) ratio of ACC stands at 16.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.1 times.

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