Earnings Review
ACC PAT misses Street view as expenses rise to 14-qtr high
This story was originally published at 20:33 IST on 30 April 2026
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--ACC Jan-Mar net profit INR 2.49 bln
--Analysts saw ACC Jan-Mar net profit at INR 4.47 bln
--ACC Jan-Mar revenue INR 70.54 bln
--Analysts saw ACC Jan-Mar revenue at INR 69.20 bln
--ACC Jan-Mar net profit INR 2.49 bln vs INR 7.35 bln year ago
--ACC Jan-Mar revenue INR 70.54 bln vs INR 59.97 bln year ago
--ACC to pay INR 7.50 per share dividend
--ACC dividend record date Jun 12
--ACC FY26 net profit INR 22.87 bln vs INR 24.25 bln year ago
--ACC FY26 revenue INR 255.66 bln vs INR 208.67 bln year ago
--ACC Jan-Mar consol cement revenue INR 66.57 bln vs INR 57.34 bln year ago
--ACC Jan-Mar readymix concrete revenue INR 5.74 bln vs INR 4.20 bln yr ago
--ACC Jan-Mar operating EBITDA INR 6.27 bln vs INR 8.30 bln year ago
--ACC Jan-Mar operating EBITDA margin 8.8% vs 13.6% year ago
--ACC Jan-Mar operating EBITDA per tn INR 525 vs INR 749 year ago
--ACC Jan-Mar cement sales volume 11.9 mln tn vs 11.1 mln tn yr ago
--ACC: Industry outlook for FY27 remains soft with demand growth seen at 5%
By Astha Oriel
NEW DELHI – ACC Ltd. Thursday reported a sharp decline in its bottom line for the March quarter as the company's total expenses grew at a faster pace year-on-year than its revenue from operations. The company's on-year rise in total expenses was the highest in 14 quarters, data available with Informist showed. The net profit for the March quarter also missed the analysts estimates by a wide margin. The company's revenue from operations grew the slowest in three quarters, beating the street estimates by a narrow margin.
The net profit of the cement company declined more than 66% on year and 54% sequentially to INR 2.49 billion in the March quarter. Analysts had estimated the company's net profit at INR 4.47 billion for the reporting quarter.
The company's net revenue from operations grew nearly 18% on year and nearly 11% on quarter to INR 70.54 billion. Analysts had estimared ACC's March quarter revenue at INR 69.20 billion.
The company's total expenses for the March quarter surged more than 22% on year to INR 67.45 billion. The company's expense for purchase of stocks in-trade surged over 48% on year to INR 20.07 billion in the March quarter. The expense for freight and forwarding surged nearly 17% on year to INR 13.47 billion, whereas the cost of materials consumed grew over 9% on year to INR 12.01 billion in the reporting quarter. The expense for power and fuel was up nearly 10% on year to INR 9.40 billion for the March quarter.
The company's consolidated cement and ancilliary services revenue was at INR 66.57 billion as against INR 57.34 in the year-ago quarter. The revenue for ready-mix-concrete was INR 5.74 billion, as against INR 4.20 billion in the year-ago period. The company's sales volume was 11.9 million tonnes in the March quarter, as against 11.1 million tonnes in the year-ago quarter.
The company's earnings before interest, tax, depreciation, and amortisation was INR 6.27 billion, lower than INR 8.30 billion in the year-ago quarter.
The company's EBITDA margin contracted to 8.8% in the March quarter, as against 13.6% in the year-ago quarter. The company's operating EBITDA per tonne declined to INR 525, as against INR 749 in the year-ago quarter. The company's capacity utilisation improved 9% sequentially to 80%.
The company plans to add 3.4 million tonnes per annum in the June quarter of financial year 2026-27 (Apr-Mar) through its Salai Banwa plant in Uttar Pradesh, and Kalamboli plant in Maharshtra. The company's green power share increased to 31% on year from 22% in the March quarter.
For the financial year 2025-26 (Apr-Mar), the company's net profit was INR 22.97 billion on revenue of INR 255.66 billion. The company has set Jun. 12 as the record date to pay a dividend of INR 7.50 per share for FY26. For 2026-27 (Apr-Mar), cement demand is expected to remain soft at 5%, the company said in a press release.
The company has factored in early forecasts of a below normal monsoon, which could adversely impact agricultural output and housing demand, as well as ongoing West Asia conflicts leading to fuel price volatility, as the reasons behind softer cement demand in FY27.
The company said cost pressures from fuel, diesel, packaging bag supply constraints, and rupee depreciation impacted this quarter and impact expected to continue in the first six months of FY27. "The company is actively strengthening cost-mitigation measures through fuel mix optimisation, higher renewable energy usage, reducing logistics costs via rail and sea, and disciplined production and inventory management," it added.
Thursday, shares of the company closed over 1% lower at INR 1,422.10 on the National Stock Exchange. END
Edited by Akul Nishant Akhoury
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