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ACC

ACC NSE

Key Fundamentals

SmallcapCementConstruction
Market Cap
₹22,409 Cr
Volatility
Moderate
P/E Ratio
11.64
EBITDA
₹3,352 Cr
Return on Equity
10.4%
Debt to Equity
0.02
Book Value
₹1,094.34
EPS
₹107.42
52W High
₹1,987
52W Low
₹1,188.1

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

2
  • Company is almost debt free.
  • Stock is trading at 1.08 times its book value

Weaknesses

4
  • Tax rate seems low
  • Company has a low return on equity of 12.6% over last 3 years.
  • Debtor days have increased from 29.6 to 54.0 days.
  • Working capital days have increased from 31.9 days to 71.0 days

Growth Rate

Revenue Growth
15.45% higher than 3Y
Net Income Growth
-11.04% lower than 3Y
Cash Flow Change
-180% lower than 3Y
ROE
-19.63% lower than 3Y
ROCE
-36.39% higher than 3Y
EBITDA Margin (Avg.)
-29.78% lower than 3Y

AI Analysis — Bull vs Bear

7d ago
AI opinion · based on fundamentals
Risk medium

ACC Ltd has a market capitalisation of about Rs 23,192 crore and trades at 12.2x earnings and 1.13x book value. The balance sheet is almost debt-free. TTM sales grew 12%, but TTM profit fell 19%, ROE was 11% last year, and debtor and working capital days have both risen sharply. The stock has returned -32% over 1 year and -12% CAGR over 5 years.

Bull Case 8
  • The company is almost debt-free. That leaves room to fund expansion and reduces financial risk in a capital-intensive, cyclical business.
  • The stock trades at 1.13x book value, close to its net asset value, for a business that has earned about 12% ROE over 10 years.
  • The P/E of 12.2x is modest for a large-cap company with 3-year profit CAGR of 31%.
  • TTM sales growth of 12% is well above the 3-year sales CAGR of 5%, which points to stronger recent volume or pricing momentum.
  • Profit compounded at 31% over 3 years, showing the earnings base has grown well from earlier levels even after the recent drop.
  • Sales compounded at 14% over 5 years and 8% over 10 years, a long record of top-line growth.
  • ROE has held steady at 12-13% over the 3-, 5- and 10-year periods, which suggests stable returns through the cycle.
  • The company pays a dividend yield of 0.61% while keeping a nearly debt-free balance sheet.
Bear Case 8
  • TTM profit fell 19% even though TTM sales rose 12%. Profits falling while sales grow points to margin compression from costs, pricing pressure or other operating issues.
  • Shareholder returns have been weak across every period: -32% over 1 year, -15% CAGR over 3 years, -12% CAGR over 5 years and -3% CAGR over 10 years.
  • Working capital days rose from 31.9 to 71.0, more than doubling. This ties up more cash in operations and weighs on cash conversion.
  • Debtor days rose from 29.6 to 54.0. The company may be offering longer credit to support sales, which raises collection risk.
  • ROE was only 11% last year and averaged 12.6% over 3 years. That is modest for a business priced at 1.13x book value and may explain why the stock trades near book.
  • The tax rate looks low. If it goes back to normal levels, reported earnings would fall and the P/E of 12.2x would be higher than it now looks.
  • The 3-year sales CAGR is only 5%, well below the 5-year CAGR of 14%, so medium-term top-line growth has slowed.
  • The dividend yield of 0.61% gives little income support while the share price has been falling.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

10h ago
Positives 2
  • Shareholders approve Ambuja merger Sep 29

    At an NCLT-convened meeting on September 29, 2026, ACC equity shareholders approved the Scheme of Amalgamation with Ambuja Cements, with 95.52% of votes in favour. This clears a key step toward consolidating the group's cement businesses.

  • 2.4 MTPA Salai Banwa plant commissioned Sep 30

    ACC commissioned a new 2.4 MTPA cement grinding plant at Salai Banwa and added 1 MTPA of blending capacity at Kalamboli. Together that's 3.4 MTPA of new capacity across multiple locations.

Neutral 2
  • Mumbai investor meets, Sep 21-22 Sep 16

    ACC scheduled in-person investor and analyst meetings in Mumbai on September 21 and 22, 2026, alongside the JP Morgan and Anand Rathi conferences. These are routine engagements with no new disclosures expected.

  • Ahmedabad sell-side analyst meet Sep 21

    ACC held a physical meeting with sell-side analysts in Ahmedabad on September 25, 2026. Only publicly available information was covered.

TL;DR: ACC has strong execution momentum. Shareholders backed the Ambuja Cements merger with 95.52% of votes, and the company added 3.4 MTPA of grinding and blending capacity at Salai Banwa and Kalamboli. These articles report no direct headwinds, though investors should track the remaining regulatory and NCLT approvals and the effect of ACC eventually being absorbed into Ambuja. The near-term trend looks better, with the merger timeline and how quickly the new capacity is used as the next things to watch.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
5,201
4,435
4,914
5,409
5,199
4,634
5,972
6,115
6,087
6,005
6,483
7,146
5,808
Expenses
4,430
3,885
4,010
4,572
4,520
4,198
4,856
5,284
5,309
5,159
5,783
6,520
5,351
Operating Profit
771
549
905
837
679
436
1,116
830
778
846
700
626
457
OPM %
15%
12%
18%
15%
13%
9%
19%
14%
13%
14%
11%
9%
8%
Other Income
80
212
94
350
73
124
649
330
70
225
91
50
31
Interest
25
29
34
67
33
33
28
14
30
29
26
27
27
Depreciation
200
213
235
237
235
242
260
265
255
279
306
279
261
PBT
626
519
729
883
484
284
1,476
882
563
763
460
370
200
Tax %
25%
25%
26%
-7%
26%
30%
26%
15%
33%
-47%
12%
36%
26%
Net Profit
466
388
538
943
360
200
1,092
751
375
1,119
404
238
147
EPS in Rs
24.82
20.65
28.63
50.23
19.15
10.63
58.14
39.99
19.99
59.6
21.52
12.69
7.83
Figures in ₹ Crores

Profit & Loss

Particulars Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023 15mMar 2024Mar 2025Mar 2026TTM
Sales
11,646
11,706
10,990
13,285
14,802
15,658
13,786
16,152
22,210
19,959
21,762
25,962
25,442
Expenses
10,116
10,123
9,532
11,370
12,754
13,245
11,431
13,154
20,285
16,897
18,701
23,004
22,813
Operating Profit
1,529
1,583
1,458
1,915
2,048
2,413
2,355
2,998
1,925
3,062
3,061
2,958
2,629
OPM %
13%
14%
13%
14%
14%
15%
17%
19%
9%
15%
14%
11%
10%
Other Income
241
-90
115
137
153
332
50
164
196
735
1,175
429
398
Interest
83
65
79
99
88
86
57
55
77
155
108
112
109
Depreciation
568
663
609
644
603
606
639
601
841
885
1,001
1,118
1,125
PBT
1,120
766
885
1,310
1,510
2,053
1,709
2,506
1,203
2,757
3,127
2,157
1,794
Tax %
-3%
25%
26%
29%
-1%
33%
16%
26%
26%
15%
23%
1%
—
Net Profit
1,162
587
658
925
1,521
1,378
1,430
1,863
885
2,335
2,402
2,137
1,909
EPS in Rs
61.88
31.3
35.06
49.23
80.97
73.35
76.16
99.21
47.13
124
128
114
102
Div. Payout %
55%
54%
49%
53%
17%
19%
18%
59%
20%
6%
6%
7%
—
Figures in ₹ Crores

Balance Sheet

Particulars Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
188
188
188
188
188
188
188
188
188
188
188
188
Reserves
8,030
8,233
8,625
9,168
10,344
11,356
12,511
14,121
13,950
16,140
18,367
20,363
Borrowings
0
0
0
0
0
0
102
126
153
355
430
429
Other Liabilities
4,464
4,379
4,581
5,490
5,524
5,592
5,399
6,604
6,252
6,685
6,428
6,546
Total Liabilities
12,682
12,800
13,394
14,846
16,056
17,136
18,200
21,039
20,544
23,368
25,413
27,525
Fixed Assets
5,666
5,331
7,568
7,280
7,088
7,027
6,694
6,750
7,512
10,007
10,829
11,256
CWIP
1,956
2,396
261
269
398
446
548
1,216
1,684
986
2,061
2,227
Investments
1,385
1,314
117
95
104
116
129
150
163
811
1,509
55
Other Assets
3,675
3,759
5,448
7,202
8,466
9,547
10,828
12,923
11,185
11,564
11,013
13,987
Total Assets
12,682
12,800
13,394
14,846
16,056
17,136
18,200
21,039
20,544
23,368
25,413
27,525
Figures in ₹ Crores

Cash Flow

Particulars Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024Mar 2025Mar 2026
Operating
1,352
1,457
1,390
1,554
1,118
2,255
2,219
2,835
-1,235
2,995
1,711
-1,364
Investing
-1,457
-904
-533
-379
-364
-321
-535
-988
-4,637
-1,205
-1,262
1,273
Financing
-837
-716
-430
-426
-380
-374
-327
-331
-1,238
-443
-1,002
-422
Net Cash Flow
-942
-164
426
750
374
1,559
1,357
1,517
-7,110
1,347
-553
-513
Free Cash Flow
-251
337
889
1,034
620
1,760
1,471
1,682
-3,216
1,646
-242
-2,393
CFO/OP
104
107
114
93
80
112
124
104
-43
104
59
-55
Figures in ₹ Crores

Ratios

Particulars Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
13
15
18
18
21
15
12
10
14
15
20
54
Inventory Days
233
235
278
261
263
153
131
162
109
112
85
58
Days Payable
139
173
286
337
301
198
207
243
110
111
73
80
Cash Conversion Cycle
106
77
10
-58
-17
-30
-64
-70
13
16
32
32
Working Capital Days
-54
-53
-64
-51
-28
-42
-63
-71
36
18
6
71
ROCE %
15%
12%
11%
16%
16%
19%
16%
19%
9%
17%
17%
11%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others3.83%Govt.0.15%Promot.56.69%FIIs5.83%Public12.37%DIIs21.13%As ofJun 2026

Documents

Frequently Asked Questions about ACC

What does ACC Ltd do?
ACC Limited (incorporated in 1936), a member of the Adani Group, is principally engaged in the business of manufacturing and selling of Cement and Ready Mix Concrete. The Company has manufacturing facilities across India and caters mainly to the domestic market.[1][2]
Where is ACC Ltd (ACC) listed?
ACC Ltd trades as ACC on the NSE and under code 500410 on the BSE.
Which sector does ACC Ltd belong to?
ACC Ltd is classified under the Construction sector, in the Cement industry.
What is the market capitalisation of ACC Ltd?
ACC Ltd has a market capitalisation of ₹22,409 Cr, which places it in the Large Cap band.
What is the PE ratio of ACC Ltd?
ACC Ltd trades at a PE ratio of 11.64, on earnings per share of ₹107.42, against a book value of ₹1,094.34 per share.
What is the 52-week high and low of ACC Ltd?
Over the last 52 weeks ACC Ltd has traded between ₹1,188.1 and ₹1,987.
Does ACC Ltd pay dividends?
ACC Ltd has a dividend yield of 0.62%.
What is the Return on Equity (ROE) of ACC Ltd?
ACC Ltd reported a return on equity of 10.40%. Its debt-to-equity ratio is 0.02.

Company Information

ACC Limited (incorporated in 1936), a member of the Adani Group, is principally engaged in the business of manufacturing and selling of Cement and Ready Mix Concrete. The Company has manufacturing facilities across India and caters mainly to the domestic market.[1][2]

Website acclimited.com
CEO Mr. Vinod Mohanlal Bahety
Employees 3,170
Listed 1996-11-20
Face Value ₹ 10
Issued Size 18,77,87,263

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