{"id":13632,"date":"2018-05-16T09:30:28","date_gmt":"2018-05-16T04:00:28","guid":{"rendered":"https:\/\/blog.fundsindia.com\/blog\/?p=13632"},"modified":"2018-05-16T09:30:28","modified_gmt":"2018-05-16T04:00:28","slug":"acc-ltd","status":"publish","type":"post","link":"https:\/\/www.fundsindia.com\/blog\/equities\/acc-ltd\/13632","title":{"rendered":"ACC Ltd"},"content":{"rendered":"<p>ACC is India\u2019s second-largest cement company with an installed capacity of ~33 mtpa. It also has presence in the ready-mix concrete (RMC) business.<\/p>\n<p><strong>Valuation:<\/strong> We expect revenue\/PAT to grow at a CAGR of 11%\/24% over CY17-19E. Although increasing cost pressure is likely to weigh on margin, improving mix, volumes ramp up and cost savings will drive EBITDA margin expansion of 250bps over CY17-19E. Recommend BUY rating on the stock with a revised target price of Rs. 1,655 based on valuation multiple of 12x CY19E EV\/EBITDA.<\/p>\n<p><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2018\/05\/Research-Report-ACC-Ltd..pdf\">Research Report &#8211; ACC Ltd.<\/a><\/p>\n<p><i>Investments in equity shares, debentures, etc., are not obligations of, or guaranteed by Wealth India Financial Services Pvt. Ltd., and are subject to investment risks.\u00a0<a href=\"http:\/\/pages.fundsindia.com\/pages\/disclaimer-equities\/\">Click here<\/a>\u00a0to read our full disclaimer.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ACC is India\u2019s second-largest cement company with an installed capacity of ~33 mtpa. It also has presence in the ready-mix concrete (RMC) business. Valuation: We expect revenue\/PAT to grow at a CAGR of 11%\/24% over CY17-19E. Although increasing cost pressure is likely to weigh on margin, improving mix, volumes ramp up and cost savings will [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[551],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ACC Ltd<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fundsindia.com\/blog\/equities\/acc-ltd\/13632\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ACC Ltd\" \/>\n<meta property=\"og:description\" content=\"ACC is India\u2019s second-largest cement company with an installed capacity of ~33 mtpa. It also has presence in the ready-mix concrete (RMC) business. Valuation: We expect revenue\/PAT to grow at a CAGR of 11%\/24% over CY17-19E. Although increasing cost pressure is likely to weigh on margin, improving mix, volumes ramp up and cost savings will [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fundsindia.com\/blog\/equities\/acc-ltd\/13632\" \/>\n<meta property=\"og:site_name\" content=\"Insights\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/fundsindia\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-16T04:00:28+00:00\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Equities Desk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#organization\",\"name\":\"Wealth India Financial Services\",\"url\":\"https:\/\/www.fundsindia.com\/blog\/\",\"sameAs\":[\"https:\/\/www.facebook.com\/fundsindia\"],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2018\/07\/download.jpeg\",\"contentUrl\":\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2018\/07\/download.jpeg\",\"width\":189,\"height\":200,\"caption\":\"Wealth India Financial Services\"},\"image\":{\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#website\",\"url\":\"https:\/\/www.fundsindia.com\/blog\/\",\"name\":\"Insights\",\"description\":\"Official blog of FundsIndia.com\",\"publisher\":{\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.fundsindia.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fundsindia.com\/blog\/equities\/acc-ltd\/13632#webpage\",\"url\":\"https:\/\/fundsindia.com\/blog\/equities\/acc-ltd\/13632\",\"name\":\"ACC Ltd\",\"isPartOf\":{\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#website\"},\"datePublished\":\"2018-05-16T04:00:28+00:00\",\"dateModified\":\"2018-05-16T04:00:28+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/fundsindia.com\/blog\/equities\/acc-ltd\/13632#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/fundsindia.com\/blog\/equities\/acc-ltd\/13632\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/fundsindia.com\/blog\/equities\/acc-ltd\/13632#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.fundsindia.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ACC Ltd\"}]},{\"@type\":\"Article\",\"@id\":\"https:\/\/fundsindia.com\/blog\/equities\/acc-ltd\/13632#article\",\"isPartOf\":{\"@id\":\"https:\/\/fundsindia.com\/blog\/equities\/acc-ltd\/13632#webpage\"},\"author\":{\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#\/schema\/person\/78222a5d6aef66b1f386dfa767382656\"},\"headline\":\"ACC Ltd\",\"datePublished\":\"2018-05-16T04:00:28+00:00\",\"dateModified\":\"2018-05-16T04:00:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/fundsindia.com\/blog\/equities\/acc-ltd\/13632#webpage\"},\"wordCount\":129,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#organization\"},\"keywords\":[\"ACC Ltd\"],\"articleSection\":[\"Equity Research\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/fundsindia.com\/blog\/equities\/acc-ltd\/13632#respond\"]}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#\/schema\/person\/78222a5d6aef66b1f386dfa767382656\",\"name\":\"Equities Desk\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.fundsindia.com\/blog\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/2620d09063050fc426411ab6ea46fc72?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/2620d09063050fc426411ab6ea46fc72?s=96&d=mm&r=g\",\"caption\":\"Equities Desk\"},\"sameAs\":[\"http:\/\/www.fundsindia.com\"],\"url\":\"https:\/\/www.fundsindia.com\/blog\/author\/equities-desk\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"ACC Ltd","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fundsindia.com\/blog\/equities\/acc-ltd\/13632","og_locale":"en_US","og_type":"article","og_title":"ACC Ltd","og_description":"ACC is India\u2019s second-largest cement company with an installed capacity of ~33 mtpa. 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