ACC turns volatile after Q4 results

ACC fell 1.42% to Rs 1,504.40 at 15:19 IST on BSE after the company announced Q4 December 2014 results during trading hours today, 3 February 2015.

Meanwhile, the BSE Sensex was down 147.30 points, or 0.51%, to 28,974.97.

On BSE, so far 1.13 lakh shares were traded in the counter, compared with an average volume of 26,312 shares in the past one quarter.

Volatility was high in the counter. The stock rose 2.88% at the day's high of Rs 1,570 so far during the day. The stock fell 1.79% at the day's low of Rs 1,498.80 so far during the day.

The stock hit a record high of Rs 1,591.90 on 30 January 2015. The stock hit a 52-week low of Rs 986.35 on 6 February 2014.

The stock had outperformed the market over the past one month till 30 January 2015, rising 7.03% compared with 6.49% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 1.68% as against Sensex's 6.72% rise.

The large-cap company has an equity capital of Rs 187.75 crore. Face value per share is Rs 10.

ACC's consolidated net profit rose 18.32% to Rs 326.22 crore on 1.23% increase in total income to Rs 2879.68 crore in Q4 December 2014 over Q4 December 2013.

Consolidated net profit rose 6.13% to Rs 1161.82 crore on 4.94% increase in total income to Rs 11995.42 crore in the year ended December 2014 over the year ended December 2013.

Selling price of cement improved by 4% in 2014 over 2013. Cement sales volume rose 1.17% to 24.21 million tonnes in 2014 compared to 23.93 million tonnes in 2013.

The company said it continues to focus on enhancing customer value and cost optimization through its institutionalizing excellence programme.

Consequent to an order of the Supreme Court restraining mining under deemed extension of second and subsequent renewals of mining leases, limestone mining operations at Chaibasa and Bargarh plants remained temporarily suspended during Q4 December 2014, resulting in an exceptional increase in cost. As per new mining ordinance of January 2015, the company expects these operations to commence shortly,

Based on present indications, ACC sees a modest but steady revival for the Indian economy in 2015 leading to some improving trends in all sectors of the economy. The infrastructure, housing and construction sectors are expected to register faster growth in the near term with a positive impact on demand for cement, the company said.

ACC is a manufacturer of cement and ready mixed concrete with a countrywide network of factories and sales offices.

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