ઇન્ડિયા ઇન્ક. ઝળહળી: Q2 કમાણીમાં મજબૂત વૃદ્ધિ, નવીન ફ્લોરિન, વારી, ACC અલગ તરી આવ્યા

Economy

Published on 20th November 2025, 4:32 AM

Author

Aditi Singh | Whalesbook News Team

Overview

ઇન્ડિયા ઇન્ક. Q2FY26 માટે મજબૂત પરિણામો નોંધ્યા છે, જેમાં 11% ટોપલાઈન અને 13% આવક વૃદ્ધિ (નાણાકીય અને તેલ કંપનીઓ સિવાય) જોવા મળી છે. સંપૂર્ણ વર્ષ માટેના અંદાજ વધારવામાં આવ્યા છે, જે એક પરિવર્તનનો સંકેત આપે છે. નવીન ફ્લોરિને 150% થી વધુ નફા વૃદ્ધિ હાંસલ કરી અને શેરમાં તેજી આવી. વારી રિન્યુએબલ ટેક્નોલોજીસે ક્ષેત્રના જોખમો વચ્ચે નફો બમણો કર્યો. ACC એ નોંધપાત્ર નફા વધારો નોંધાવ્યો, પરંતુ એકાઉન્ટિંગ ગોઠવણો અને જૂથની ચિંતાઓને કારણે તેના શેરમાં ઘટાડો થયો.

ACC Ltd

₹ 1,830-1.15%

21 Nov – close price

🔗acclimited.com•BSE: 500410•NSE: ACC

Market Cap₹ 34,405 Cr.

Current Price₹ 1,830

High / Low₹ 2,325

Stock P/E10.7

Book Value₹ 1,046

Dividend Yield0.41 %

ROCE17.6 %

ROE13.4 %

Face Value₹ 10.0

Sales₹ 23,871 Cr.

OPM14.7 %

Mar Cap₹ 34,405 Cr.

ABOUT

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]

KEY POINTS

Business Segments1) Cement (94% in FY24 vs 91% in CY19):[1][2]The company offers two product lines including agold rangecomprising of premium cement products like ACC gold water shield, ACC F2R superfast, etc and thesilver rangeoffering affordable cement products like ACC Suraksha power, ACC HPC long life, ACC Suraksha power+, etc.[3]The segment's revenue grew by 31% between CY19 and FY24, driven by a 28% increase in sales volumes and a 2% rise in average sales realizations, from Rs. 4,973 per ton in CY19 to Rs. 5,092 per ton in FY24.[4][5]

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	UltraTech Cem.	11729.00	47.12	345579.21	0.66	1237.98	75.23	19606.93	20.33	10.89	81724.53	18.35	7334.75	1231.58	4.80	5.19	0.35
2.	Grasim Inds	2734.80	43.02	186176.34	0.37	1498.04	68.24	39899.58	16.59	7.50	159663.26	20.07	4327.58	553.48	1.87	1.69	2.06
3.	Ambuja Cements	547.55	23.55	135344.69	0.37	2302.28	233.64	9174.49	21.48	10.50	38772.67	18.83	5746.21	1935.75	2.41	7.02	0.02
4.	Shree Cement	26480.00	55.59	95560.95	0.42	309.82	303.60	4761.07	17.44	6.71	20146.65	23.33	1718.89	308.51	4.26	3.97	0.10
5.	J K Cements	5621.00	41.99	43461.80	0.27	159.25	275.56	3019.20	17.93	13.99	12883.19	18.56	1034.93	160.53	6.70	5.11	1.00
6.	Dalmia BharatLtd	2009.20	33.85	37675.30	0.45	239.00	413.04	3417.00	10.69	5.58	14325.00	20.13	1112.86	236.00	2.13	2.48	0.40
7.	ACC	1830.10	10.71	34405.04	0.41	1112.16	375.55	5852.46	26.43	17.64	23870.89	14.67	3213.67	1112.16	1.75	9.63	0.02
–	Median: 35 Co.	197.45	34.67	2887.09	0.21	19.74	116.51	601.53	16.59	5.58	2494.44	11.92	56.39	20.11	2.15	1.24	0.6

Quarterly Results

Standalone figures in ₹ crores

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	3,987	4,537	4,791	5,201	4,435	4,918	5,398	5,200	4,629	5,896	6,057	6,066	5,852
Expenses	3,972	4,159	4,324	4,432	3,886	4,015	4,561	4,523	4,200	4,787	5,256	5,293	5,033
Operating Profit	15	378	466	769	548	903	837	677	429	1,109	800	773	820
Other Income	53	-38	51	78	208	84	122	70	154	644	326	69	223
Profit before tax	-122	149	328	623	516	719	662	493	318	1,475	859	574	757
Tax %	-26%	26%	28%	26%	25%	27%	-13%	26%	26%	26%	14%	33%	-47%
Net Profit	-91	110	237	464	384	527	749	366	234	1,089	735	384	1,112
EPS in Rs	-4.85	5.88	12.60	24.71	20.46	28.09	39.86	19.50	12.45	57.99	39.16	20.48	59.22

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	11,061	11,645	11,706	10,990	13,285	14,801	15,657	13,785	16,151	22,210	19,952	21,668	23,871
Expenses	9,417	10,122	10,199	9,522	11,375	12,757	13,247	11,432	13,151	20,291	16,895	18,652	20,369
Operating Profit	1,645	1,523	1,507	1,468	1,909	2,045	2,409	2,352	3,000	1,919	3,058	3,016	3,502
Other Income	270	252	-3	91	132	138	311	28	112	175	492	1,193	1,262
Interest	114	83	67	83	102	89	86	57	55	77	154	108	101
Depreciation	574	558	652	605	640	600	603	635	597	835	876	956	998
Profit before tax	1,227	1,135	784	871	1,298	1,494	2,031	1,688	2,460	1,182	2,519	3,145	3,665
Net Profit	1,096	1,168	592	647	915	1,507	1,359	1,415	1,820	870	2,124	2,425	3,321
EPS in Rs	58.36	62.23	31.51	34.46	48.75	80.23	72.36	75.35	96.93	46.32	113.12	129.11	176.85
Dividend Payout %	51%	55%	54%	49%	53%	17%	19%	19%	60%	20%	7%	6%	–

Compounded Sales Growth

10 Years:6%

5 Years:7%

3 Years:10%

TTM:18%

Compounded Profit Growth

10 Years:7%

5 Years:11%

3 Years:7%

TTM:71%

Stock Price CAGR

10 Years:3%

5 Years:1%

3 Years:-9%

1 Year:-12%

Return on Equity

10 Years:12%

5 Years:12%

3 Years:12%

Last Year:13%

Balance Sheet

Standalone figures in ₹ crores

	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	188	188	188	188	188	188	188	188	188	188	188	188	188
Reserves	7,637	8,048	8,255	8,644	9,177	10,340	11,333	12,473	14,040	13,855	15,834	18,083	19,464
Borrowings	35	-0	36	50	59	-0	-0	84	126	153	355	430	485
Other Liabilities	4,234	4,436	4,362	4,558	5,464	5,497	5,561	5,381	6,565	6,212	6,523	6,222	5,833
Total Liabilities	12,094	12,671	12,841	13,440	14,889	16,025	17,082	18,126	20,919	20,409	22,900	24,923	25,969
Fixed Assets	5,504	5,598	5,285	7,525	7,241	7,049	6,991	6,659	6,723	7,486	9,227	9,753	9,854
Gross Block	–	–	–	8,129	8,480	8,877	9,397	9,809	10,448	12,017	14,527	16,160	–
Accumulated Depreciation	–	–	–	604	1,239	1,828	2,406	3,151	3,725	4,531	5,300	6,406	–
CWIP	820	1,915	2,371	261	262	392	435	545	1,212	1,683	972	1,616	1,787
Investments	2,194	1,573	1,476	258	230	230	230	221	193	193	1,374	2,742	1,373
Other Assets	3,576	3,585	3,709	5,395	7,156	8,353	9,425	10,701	12,791	11,046	11,326	10,812	12,956
Total Assets	12,094	12,671	12,841	13,440	14,889	16,025	17,082	18,126	20,919	20,409	22,900	24,923	25,969

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	1,056	1,332	1,461	1,380	1,555	1,118	2,248	2,216	2,832	-1,239	2,980	1,706
Cash from Investing Activity	-858	-1,437	-948	-539	-384	-367	-328	-536	-989	-4,642	-1,168	-1,278
Cash from Financing Activity	-834	-837	-681	-420	-422	-441	-374	-327	-331	-1,238	-442	-987
Net Cash Flow	-636	-942	-168	421	749	310	1,546	1,352	1,512	-7,118	1,370	-558

Ratios

Standalone Figures in ₹ Crores / Yearly

	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Mar 2023	Mar 2024	Mar 2025
Debtor Days	13	13	15	18	18	21	15	12	10	14	15	20
Inventory Days	230	232	235	278	260	262	153	131	162	109	116	84
Days Payable	131	139	173	286	336	301	197	206	242	110	120	71
Cash Conversion Cycle	112	106	77	10	-57	-17	-30	-63	-69	13	11	33
Working Capital Days	-45	-54	-54	-63	-53	-27	-42	-62	-71	36	19	7
ROCE %	17%	15%	11%	11%	15%	16%	19%	16%	19%	9%	17%	18%

Shareholding Pattern
Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	56.69%	56.69%	56.69%	56.69%	56.69%	56.69%	56.69%	56.69%	56.69%	56.69%	56.69%	56.69%
FIIs	11.95%	10.05%	9.98%	7.10%	6.24%	6.17%	5.64%	5.50%	5.14%	4.83%	4.66%	5.04%
DIIs	18.64%	19.51%	19.35%	22.79%	24.14%	24.64%	24.82%	24.42%	24.66%	24.92%	24.13%	22.55%
Public	12.55%	13.57%	13.80%	13.26%	12.76%	12.33%	12.68%	13.22%	13.35%	13.41%	14.36%	15.55%