On consolidated basis
Quarter ended December 2021 compared with Quarter ended December 2020.
Net sales (including other operating
income) of ACC has increased 1.96% to Rs 4225.76 crore. Sales of
Cement segment has gone up 2.08% to Rs 3,957.12 crore (accounting for 92.26% of
total sales). Sales of Ready Mix Concrete segment rose 6.07% to Rs
331.92 crore (accounting for 7.74% of total sales). Inter-segment
sales rose Rs 44.75 crore to Rs 63.28 crore.
Profit before interest, tax and
other unallocable items (PBIT) has slumped 4.60% to Rs 398.54
crore. PBIT of Cement segment rose 2.97% to Rs 384.00 crore
(accounting for 96.35% of total PBIT). PBIT of Ready Mix Concrete
segment fell 67.55% to Rs 14.54 crore (accounting for 3.65% of total
PBIT).
PBIT margin of Cement segment rose
from 9.62% to 9.70%. PBIT margin of Ready Mix Concrete segment fell
from 14.32% to 4.38%. Overall PBIT margin fell from 9.97% to
9.29%.
Operating profit margin has declined
from 13.80% to 13.16%, leading to 2.73% decline in operating profit to Rs
556.25 crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 13.43% to 12.62%. Purchase of finished
goods cost rose from 5.00% to 6.71%. Employee cost decreased from
6.20% to 5.08%. Other expenses rose from 61.18% to 61.70%. Power
and Oil fuel cost rose from 18.68% to 23.50%. Freight charges fell
from 25.16% to 23.94%.
Other income fell 15.85% to Rs 53.88
crore. PBIDT fell 4.05% to Rs 610.13 crore. Provision for
interest fell 25.93% to Rs 12.88 crore. Loan funds rose to Rs 125.58
crore as of 31 December 2021 from Rs 83.98 crore as of 31 December
2020. Inventories rose to Rs 1,273.91 crore as of 31 December 2021
from Rs 901.27 crore as of 31 December 2020. Sundry debtors were
higher at Rs 489.02 crore as of 31 December 2021 compared to Rs 451.41 crore as
of 31 December 2020. Cash and bank balance rose to Rs 7,523.71 crore
as of 31 December 2021 from Rs 6,005.70 crore as of 31 December
2020. Investments rose to Rs 149.55 crore as of 31 December 2021
from Rs 129.27 crore as of 31 December 2020 .
PBDT fell 3.43% to Rs 597.25
crore. Provision for depreciation rose 1.94% to Rs 160.44
crore. Fixed assets increased to Rs 7,941.07 crore as of 31 December
2021 from Rs 7,232.36 crore as of 31 December 2020. Intangible
assets increased from Rs 10.19 crore to Rs 53.72 crore.
Profit before tax down 5.27% to Rs
436.81 crore. Share of profit/loss was 51.67% lower at Rs 1.88
crore. Extraordinary items were increased to Rs -54.76
crore. Provision for tax was debit of Rs 103.08 crore, compared to credit
of Rs 183.45 crore. Effective tax rate was 26.85% compared to
negative 63.48%.
Minority interest increased 100% to
Rs 0.04 crore. Net profit attributable to owners of the company
decreased 40.56% to Rs 280.81 crore.
Equity capital stood at Rs 187.99
crore as of 31 December 2021 to Rs 187.99 crore as of 31 December
2020. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 54.53% as of 31
December 2021 ,compared to 54.53% as of 31 December 2020 .
Full year results analysis.
Net sales (including other operating income) of ACC has increased 17.16% to Rs
16151.67 crore. Sales of Cement segment has gone up 16.61% to Rs
15,105.76 crore (accounting for 92.35% of total sales). Sales of
Ready Mix Concrete segment rose 30.19% to Rs 1,251.85 crore (accounting for
7.65% of total sales). Inter-segment sales rose Rs 129.25 crore to
Rs 205.94 crore.
Profit before interest, tax and
other unallocable items (PBIT) has jumped 39.70% to Rs 2,404.19
crore. PBIT of Cement segment rose 37.53% to Rs 2,348.38 crore
(accounting for 97.68% of total PBIT). PBIT of Ready Mix Concrete
segment rose 313.10% to Rs 55.81 crore (accounting for 2.32% of total
PBIT).
PBIT margin of Cement segment rose
from 13.18% to 15.55%. PBIT margin of Ready Mix Concrete segment
rose from 1.41% to 4.46%. Overall PBIT margin rose from 12.37% to
14.70%.
Operating profit margin has jumped
from 17.08% to 18.56%, leading to 27.30% rise in operating profit to Rs
2,998.08 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 12.26% to 12.98%. Purchase of
finished goods cost rose from 5.11% to 5.64%. Employee cost
decreased from 6.17% to 5.12%. Other expenses fell from 59.20% to
57.89%. Power and Oil fuel cost rose from 18.87% to 20.61%.
Freight charges fell from 25.04% to 23.42%.
Other income fell 4.63% to Rs 206.71
crore. PBIDT rose 24.61% to Rs 3204.79 crore. Provision
for interest fell 4.31% to Rs 54.62 crore. Loan funds rose to Rs
125.58 crore as of 31 December 2021 from Rs 83.98 crore as of 31 December
2020. Inventories rose to Rs 1,273.91 crore as of 31 December 2021
from Rs 901.27 crore as of 31 December 2020. Sundry debtors were
higher at Rs 489.02 crore as of 31 December 2021 compared to Rs 451.41 crore as
of 31 December 2020. Cash and bank balance rose to Rs 7,523.71 crore
as of 31 December 2021 from Rs 6,005.70 crore as of 31 December
2020. Investments rose to Rs 149.55 crore as of 31 December 2021
from Rs 129.27 crore as of 31 December 2020 .
PBDT rose 25.27% to Rs 3150.17
crore. Provision for depreciation fell 5.97% to Rs 600.68
crore. Fixed assets increased to Rs 7,941.07 crore as of 31 December
2021 from Rs 7,232.36 crore as of 31 December 2020. Intangible
assets increased from Rs 10.19 crore to Rs 53.72 crore.
Profit before tax grew 35.91% to Rs
2,549.49 crore. Share of profit/loss was 30.46% higher at Rs 11.65
crore. Extraordinary items were increased to Rs -54.76
crore. Provision for tax was expense of Rs 643.28 crore, compared to
Rs 278.59 crore. Effective tax rate was 25.67% compared to 16.30%.
Minority interest increased 37.50%
to Rs 0.11 crore. Net profit attributable to owners of the company
increased 30.26% to Rs 1,862.99 crore.
Equity capital stood at Rs 187.99
crore as of 31 December 2021 to Rs 187.99 crore as of 31 December
2020. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 54.53% as of 31
December 2021 ,compared to 54.53% as of 31 December 2020 .
Cash flow from operating activities
increased to Rs 2,835.49 crore for year ended December 2021 from Rs 2,219.19
crore for year ended December 2020. Cash flow used in acquiring
fixed assets during the year ended December 2021 stood at Rs 1,175.36 crore,
compared to Rs 748.53 crore during the year ended December 2020.
Dividend: The board of directors
have recommended payment of dividend at Rs 58/- per share of Rs 10/-
aggregating to Rs 1089 crore.
Management Commentary:
Commenting on the performance Mr Sridhar Balakrishnan, Managing Director and
CEO, said "The year 2021 was a challenging one on many counts. The global
economy witnessed major supply chain disruptions resulting in high inflation
especially led by fuel costs. Cement Demand was also muted during the quarter
driven by multiple regional factors across India.
Despite these challenges, ACC was able to deliver another year of strong
performance. We delivered a sales growth of 17% during the year with an EBIT
growth of 40%. Efficiency measures under project ` Parvat` coupled with product
premiumization initiatives have enables to mitigate inflationary impacts and
expand margins.
With the launch of our Green products such as `ECOPact` and signing of net
zero pledge validated by SBTi, we have further accelerated our Sustainability
journey during the year. I am confident, with our upcoming cpacity and
efficiency projects, we will continues to deliver strong value for all our
stakeholders."
| ACC : Consolidated Results | | | Quarter ended | Quarter ended | Year ended |
|---|
| Particulars | 202112 | 202012 | Var.(%) | 202112 | 202012 | Var.(%) | 202112 | 202012 | Var.(%) |
|---|
| Net Sales (including other operating income) | 4,225.76 | 4,144.72 | 1.96 | 4,225.76 | 4,144.72 | 1.96 | 16,151.67 | 13,785.98 | 17.16 | | OPM (%) | 13.16 | 13.80 | -63 bps | 13.16 | 13.80 | -63 bps | 18.56 | 17.08 | 148 bps | | OP | 556.25 | 571.85 | -2.73 | 556.25 | 571.85 | -2.73 | 2,998.08 | 2,355.11 | 27.30 | | Other Inc. | 53.88 | 64.03 | -15.85 | 53.88 | 64.03 | -15.85 | 206.71 | 216.74 | -4.63 | | PBIDT | 610.13 | 635.88 | -4.05 | 610.13 | 635.88 | -4.05 | 3,204.79 | 2,571.85 | 24.61 | | Interest | 12.88 | 17.39 | -25.93 | 12.88 | 17.39 | -25.93 | 54.62 | 57.08 | -4.31 | | PBDT | 597.25 | 618.49 | -3.43 | 597.25 | 618.49 | -3.43 | 3,150.17 | 2,514.77 | 25.27 | | Depreciation | 160.44 | 157.38 | 1.94 | 160.44 | 157.38 | 1.94 | 600.68 | 638.84 | -5.97 | | PBT | 436.81 | 461.11 | -5.27 | 436.81 | 461.11 | -5.27 | 2549.49 | 1875.93 | 35.91 | | Share of Profit/(Loss) from Associates | 1.88 | 3.89 | -51.67 | 1.88 | 3.89 | -51.67 | 11.65 | 8.93 | 30.46 | | PBT before EO | 438.69 | 465 | -5.66 | 438.69 | 465 | -5.66 | 2561.14 | 1884.86 | 35.88 | | EO Income | -54.76 | -176.01 | 68.89 | -54.76 | -176.01 | 68.89 | -54.76 | -176.01 | 68.89 | | PBT after EO | 383.93 | 288.99 | 32.85 | 383.93 | 288.99 | 32.85 | 2506.38 | 1708.85 | 46.67 | | Taxation | 103.08 | -183.45 | PL | 103.08 | -183.45 | PL | 643.28 | 278.59 | 130.91 | | PAT | 280.85 | 472.44 | -40.55 | 280.85 | 472.44 | -40.55 | 1863.1 | 1430.26 | 30.26 | | Minority Interest (MI) | 0.04 | 0.02 | 100.00 | 0.04 | 0.02 | 100.00 | 0.11 | 0.08 | 37.50 | | Net profit | 280.81 | 472.42 | -40.56 | 280.81 | 472.42 | -40.56 | 1862.99 | 1430.18 | 30.26 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 280.81 | 472.42 | -40.56 | 280.81 | 472.42 | -40.56 | 1862.99 | 1430.18 | 30.26 | | EPS (Rs)* | 17.08 | 84.00 | -79.66 | 17.08 | 24.76 | -31.01 | 101.37 | 84.00 | 20.69 | | | * EPS is on current equity of Rs 187.79 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
| ACC : Consolidated Segment Results | | | Quarter ended | Year ended |
|---|
| % of (Total) | 202112 | 202012 | Var.(%) | % of (Total) | 202112 | 202012 | Var.(%) |
|---|
| Sales | | Cement | 92.26 | 3,957.12 | 3,876.54 | 2.08 | 92.35 | 15,105.76 | 12,953.67 | 16.61 | | Refractory | 0.00 | 0.00 | 0.00 | - | | Ready Mix Concrete | 7.74 | 331.92 | 312.93 | 6.07 | 7.65 | 1,251.85 | 961.56 | 30.19 | | Total Reported Sales | 100.00 | 4,289.04 | 4,189.47 | 2.38 | 100.00 | 16,357.61 | 13,915.23 | 17.55 | | Less: Inter segment revenues | | 63.28 | 44.75 | 41.41 | | 205.94 | 129.25 | 59.33 | | Net Sales | 100.00 | 4,225.76 | 4,144.72 | 1.96 | 100.00 | 16,151.67 | 13,785.98 | 17.16 | | PBIT | | Cement | 96.35 | 384.00 | 372.94 | 2.97 | 97.68 | 2,348.38 | 1,707.48 | 37.53 | | Refractory | 0.00 | 0.00 | 0.00 | - | | Ready Mix Concrete | 3.65 | 14.54 | 44.81 | -67.55 | 2.32 | 55.81 | 13.51 | 313.10 | | Total PBIT | 100.00 | 398.54 | 417.75 | -4.60 | 100.00 | 2,404.19 | 1,720.99 | 39.70 | | Less : Interest | | 12.88 | 17.39 | -25.93 | | 54.62 | 57.08 | -4.31 | | Add: Other un-allcoable | | -1.73 | -111.37 | 98.45 | | 156.81 | 44.94 | 248.93 | | PBIT Margin(%) | | Cement | | 9.70 | 9.62 | 8.36 | | 15.55 | 13.18 | 236.48 | | Refractory | | 0.00 | 0.00 | 0.00 | | Ready Mix Concrete | | 4.38 | 14.32 | -993.89 | | 4.46 | 1.41 | 305.32 | | PBT | 100.00 | 383.93 | 288.99 | 32.85 | 100.00 | 2,506.38 | 1,708.85 | 46.67 |
|
|