Buy ACC, target price Rs 2625: Emkay Global Financial Services

Emkay Global Financial Services has buy call on ACC with a target price of Rs 2625.The current market price of ACC is Rs 2456.75.

ACC, incorporated in the year 1936, is a Large Cap company (having a market cap of Rs 46103.65 Crore) operating in Cement sector.

ACC key Products/Revenue Segments include Cement, Ready Mix Concrete, Other Operating Revenue, Scrap for the year ending 31-Dec-2021.


Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 4057.08 Crore, down -10.29 % from last quarter Total Income of Rs 4522.28 Crore and up 6.42 % from last year same quarter Total Income of Rs 3812.31 Crore. Company has reported net profit after tax of Rs -90.25 Crore in latest quarter.

The company’s top management includes Mr.Sridhar Balakrishnan. Company has Deloitte Haskins & Sells LLP as its auditors. As on 30-09-2022, the company has a total of 19 Crore shares outstanding.

Promoter/FII Holdings
Promoters held 56.68 per cent stake in the company as of 30-Sep-2022, while FIIs owned 22.63 per cent, DIIs 18.85 per cent.