ACC target price Rs 1985; HDFC Securities maintains BUY rating
HDFC Securities highlight that during Q4 CY20, strong pricing in south and stable opex drove ACC’s consolidated revenue/EBITDA/APAT by 2/30/65% YoY to Rs 41.4/7.0/4.5 bn respectively. ACC commissioned its 1.4mn MT Sindri grinding unit in Jan’21 and expects to commission the greenfield plants (4.8mn MT) in central region by mid-2022, thus boosting its volume growth outlook.
HDFC Securities maintains BUY rating on the stock with a revised target price of Rs 1985/share (10x Dec’22 Consolidated EBITDA): Reuters