Share price of this mid-cap stock engaged in manufacturing and selling of cement moved up by 2.03 percent on BSE to hit an intraday high at Rs. 2,610 in the trading session of Thursday, after reporting Q4FY24 results with a rise in net profit by 300%.
With a market capitalisation of Rs. 48,443.5 crore, the shares of ACC Limited closed in the green at Rs. 2,579.7, up by 0.85 percent.
The fluctuations in the share prices were observed after the company announced its financial results on 25th April for Q4 FY23-24 and FY24, through the recent filings with the stock exchanges.
The revenue from operations stood at Rs. 5,408.72 crore in Q4 FY23-24, increasing by 10 percent QoQ from Rs. 4,914.36 crore in Q3 FY23-24 and grew by nearly 13 percent YoY from Rs. 4,790.91 in Q4 FY22-23.
Further, the net profit of one of India’s largest Cement and Building materials companies increased by 75.7 percent QoQ from Rs. 537.67 crore in Q3 FY23-24 to Rs. 944.84 crore in Q4 FY23-24 and jumped 3x on a year-on-year basis by 300 percent from Rs. 235.66 crore in Q4 FY22-23 to Rs. 944.84 in Q4 FY23-24.
On a YoY basis, the EBITDA margin increased by 5.7pp at 15.5 percent, volume rose by 23.5 percent, and EBITDA (PMT) moved up by 45 percent at Rs. 802 PMT.
Moreover, the Board of the company has recommended a dividend of Rs. 7.50 per equity share of the face value of Rs. 10 each fully paid-up for FY23-24, which will be paid on or after 1st July 2024.
As of March 2024, FIIs hold 6.17 percent of the shares, whereas DIIs hold 24.64 percent of the shares in the company, aggregating to 30.81 percent of the institutional holdings.
The company has delivered positive returns of about 35.7 percent in the last six months, and nearly 48.4 percent in the last one year. So far in 2024, it has given around 15 percent of positive returns.
Established in 1936, ACC Limited is a subsidiary of Ambuja Cements, a member of the Adani Group and one of India’s leading producers of cement and ready-mix concrete.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
