Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 16 Sep - ACC to interact with investors on Sept 21-22, 2026 in Mumbai.
Source: Bse
ACC Limited (ACC)
Large CapMaterials stocks · Large cap · NSE
Ambuja Cements, along with its subsidiary ACC, forms India's leading cement platform and is among the world's top nine cement companies. It operates across 31 states with 109 MTPA capacity, focusing on sustainable practices and digital integration.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result24 Jul, 08:29 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Materials P/E 28.8 (n=19)
Technical timing lens
Trend score and candlestick chart
25Bearishfull bear SMA stack · SMA20 -7.1% / mo · MACD + · near 52W low · sector -3.8pp vs Nifty 500 (3M)
Stock trend: 26
Sector RS: 24
Sector 3M: -9.5% vs Nifty 500 -5.6%
Materials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
ACCD candles · FIT view-19.2%Latest close ₹1163.60 on 2026-10-21
Bar
-0.9%
RSI
41
MACD hist
4.36
52W pos
5%
2026-10-21O ₹1173.70H ₹1179.10L ₹1149.50C ₹1163.60Vol 1.0L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
ACCNifty CommoditiesNifty 500
- ACC
- -16.2%
- Nifty 500
- -6.5%
- Nifty Commodities
- -10.2%
- Vs Nifty 500
- -9.7 pp
Chart stats
21 Oct 2026- From 52W high
- -41.4%
- 52W range position
- 5%
- ATR (14)
- 2.4%
- Volume vs 20D
- 0.73x
- Avg traded value
- ₹16.9 Cr
- 20D price channel
- ₹1,123 - ₹1,260
₹1,987
₹1,123 - ₹1,987
₹28.1
Latest completed session
20-session average
23.9% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · FAIR VALUE57
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue -4.6% · PAT -60.8% YoY
Technical
Bearish25
Price trend and sector-relative-strength timing.
Valuation
Legacy model+30.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence65
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100Rev -5% YoY · PAT -61% YoY · margin compression
Filed 24 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹5,808 Cr | -4.6% | -18.7% |
| EBITDA | ₹457 Cr | -41.3% | -27.0% |
| Operating margin | 8.0% | -500 bps | -100 bps |
| PAT | ₹147 Cr | -60.8% | -38.2% |
| PAT margin | 2.5% | -363 bps | -80 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 11.20
- P/B
- 1.04
- EV/EBITDA
- 5.79
- Market Cap
- 21291.00Cr
Profitability
- ROE
- 10.90%
- ROCE
- 11.20%
- ROA
- 7.76%
- Dividend Y
- 0.66%
Growth (CAGR)
- Revenue 5Y
- 14.00%
- EPS 5Y
- 7.00%
- Revenue 3Y
- 5.00%
- EPS 3Y
- 31.00%
Balance Sheet
- Debt/Equity
- 0.02
- Interest Coverage
- 24.12×
- Altman Z
- 4.38
- Book Value
- 1094.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 9/5
- OCF
- -1364.00 Cr
- EPS TTM
- 101.64
Shareholding
- Promoter Hold
- 56.69%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 1%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 5,808-18.7% vs prev
Net Profit
₹ CrLatest: 147-38.2% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 41. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~7.7% over last month) — short-term momentum negative.
- RSI(14) at 41 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
9
RS percentile
Stage 4 Downtrend
1M return
-7.4%
3M return
-16.2%
6M return
-18.2%
1Y return
-38.1%
RS 1D
+1
RS 20D
-1
Sector rank
#18
Industry rank
#22
Stage evidence
- Price is 12.4% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -3.0%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
lagging
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 67.03+0.57%
RS vs Nifty 50067
Valuation & peers
U-Score 57 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 57 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Deep Value
Fundamental score breakdown
U band · FAIR VALUEValuation24/30
Growth11/25
Quality3/20
Balance Sheet12/15
Cash Flow3/10
Piotroski
6/9 (+3)
Penalties
1
Raw sum
57
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
57/100 · legacy band FAIR VALUE
Positive drivers
- Fair-value margin of safety is positive at 30.2%.
- Valuation contributes 24/30 to the score.
- Balance sheet contributes 12/15 to the score.
Main drags
- Quality is weaker at 3/20; verify the latest quarterly trend.
- Cash flow is weaker at 3/10; verify the latest quarterly trend.
- Growth is weaker at 11/25; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
11.2
PB
1.0
EV/EBITDA
5.8
ROE
10.9%
ROCE
11.2%
FCF Yield
—
Debt/Equity
0.0
MoS
+30.2%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
57
Previous: 57
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+30.2%
Previous: +29.9%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
57
57
57
57
57
57
57
57
57
57
57
57
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹1,581.73
+26.4% MoS
Growth-justified P/E
16.4
Growth-justified Value
₹1,666.9
+30.2% MoS
PEG
1.00
Comparable companies
Peers
Business-comparable peers in Materials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
DALBHARAT
Large
Dalmia Bharat Limited
Cement
match 160
24
28.8
6.1%
-417%
OVERVALUED
NUVOCO
Large
Nuvoco Vistas Corporation Limited
Cement
match 158
46
27.6
4.2%
+27%
FAIR VALUE
INDIACEM
Large
The India Cements Limited
Cement
match 156
23
58.9
0.4%
-4362%
OVERVALUED
JKCEMENT
Large
JK Cement Limited
Cement
match 155
38
38.7
15.6%
-143%
WATCHLIST
BIRLACORPN
Micro
Birla Corporation Limited
Cement
match 154
48
11.1
7.8%
-101%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-06-12T07:23:02.786Z
Management commentary snapshot
ACC Limited (Ambuja Consolidated) reported 10% YoY volume growth in Q4FY26 and 16% for FY26, ahead of industry. However, Q4FY26 Operating EBITDA PMT declined 29% YoY to Rs 735, impacted by fuel cost inflation and other operational headwinds.
While volume growth remains robust and capacity expansion is on track, Q4FY26 profitability was significantly impacted by rising fuel costs and operational challenges. Management's cost mitigation efforts and synergy realization are crucial to restore EBITDA PMT.
Current business mix
Capacity Share by Geographical Zone (Q4 FY’26)
Latest issuer-disclosed distribution across 5 reported categories.
Northern Zone19.0%
Central Zone8.0%
Western Zone23.0%
Southern Zone28.0%
Eastern Zone22.0%
Growth engines
Volume Growth
Ambuja Cements recorded 16% volume growth in FY’26; ahead of the Industry.
Premium Cement Focus
Premium cement sustained at 35% of trade sales, with 22% volume growth YoY.
Cost Optimization Initiatives
Initiatives expected to reduce total cement cost by Rs. 150–200 PMT in FY’27, from ~Rs. 4,400 PMT in FY’26.
Capacity Expansion
Total capacity will increase to ~119 MTPA by Mar’27 with new grinding and clinker units.
Capacity and execution
Jodhpur Clinkering Line
Clinkering line with 3 MTPA at Jodhpur commissioned.
Dahej GU Line 2
Trial run has started for a 1.2 MTPA Dahej GU Line 2.
H1FY27 Grinding Capacities
Grinding capacities in Dahej (1.2 MTPA), Bhatinda (1.2 MTPA), Salai Banwa (2.4 MTPA), Kalamboli (1 MTPA), Jodhpur (2 MTPA), Warisaliganj (2.4 MTPA) to be commissioned.
Maratha Clinker Unit
Additional clinker unit at Maratha (4 MTPA) to be commissioned in H1FY27.
Tailwinds
Public Capex
FY’27 Union Budget’s 12.2 lakh Cr public capex bodes well for India’s ensuing growth trajectory.
Government Spending
Key demand drivers include extensive Government spending on roads, railways, metro projects alongside affordable housing initiative under PMAY.
Long-term Structural Demand
Structural demand driven by urbanization, income growth and public investment — not cyclical.
Policy Support
PLI Scheme and Smart City Initiatives, FDI inflows and China+1 strategy supporting long-term industrial cement demand growth.
Headwinds
Fuel Cost Inflation
Imported Petcoke CFR increased 35% in Q4FY26 (July'25 to Apr'26).
West Asia Conflict Impact
Escalating West Asia conflict disrupts energy supplies, raises import costs, and weighs on trade.
Monsoon Impact on Demand
Early forecasts of a below normal monsoon could adversely impact agricultural output and housing demand.
Packaging Supply Constraints
The quarter was impacted by packaging supply constraints.
Risk radar
Geopolitical Instability
If West-Asia conflict persists, FY’27 GDP may fall by 1% & inflation could rise by 1.5% from baseline estimates.
Monsoon Dependency
Expectations of sub-normal monsoon may dampen agriculture income and impact rural housing demand.
Persistent Cost Pressure
West-Asia crisis increased freight, petcoke, and coal prices, and created shortages in polypropylene packaging bags, adding to FY27 cost pressure.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
The presentation provides both quarterly and yearly data, highlighting sequential improvements in some metrics (e.g., utilization) and significant YoY changes in profitability, making both comparisons relevant.
Sector KPIs management disclosed
Cement Sales Volume (Consolidated)
Q4FY26: 19.9 MnT (+10% YoY, +6% QoQ); FY26: 73.7 MnT (+16% YoY).
Operating EBITDA (Consolidated)
Q4FY26: Rs 1,464 Cr (-22% YoY, +8% QoQ); FY26: Rs 6,539 Cr (+10% YoY).
EBITDA PMT (Consolidated)
Q4FY26: Rs 735 (-29% YoY, +2% QoQ); FY26: Rs 887 (-6% YoY).
Capacity Utilization (Consolidated)
Overall capacity utilisation improved by 5% sequentially to 77% on consolidated basis. Sanghi utilisation improved from 43% in Q4FY25 to 57% in Q4FY26.
Management forward view
Cost Mitigation Focus
Actively strengthening cost-mitigation measures through fuel mix optimization, higher renewable energy usage, and logistics cost reduction.
Capacity Stabilization & Utilization
Focus shifting towards stabilising newly commissioned capacities and improving utilisation across the existing base.
Asset Utilization Target
Efforts to improve overall asset utilization from current 77% to target 85%.
Digital Transformation
CiNOC launched to infuse AI layer into operations; DIGIPIN to address freight standardisation and hyperlocal marketing.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| EBITDA PMT (Consolidated) | Rs 735 (Q4FY26) | Improvement towards FY26 annual average of Rs 887 and tangible benefits from cost reduction initiatives. |
| Capacity Utilization (Consolidated) | 77% (Q4FY26) | Ramp-up towards management's target of 85% across existing and newly commissioned assets. |
| Cost Reduction Initiatives | Expected Rs 150-200 PMT reduction in FY27 | Tangible evidence of cost savings from fuel mix, green power, and logistics optimization. |
| Consolidation Approvals | Awaiting SEBI NOC for ACC and Orient mergers | Timely completion of merger transactions for full synergy realization. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
65Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 45th percentile of the scored universe and 16th percentile within Materials. Main check: results consistency is weak at 39/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 21 Oct 2026
management-trust-v1
99 docs text-extracted · 27 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
45th percentile
overall median 67 · Materials: 16th pctile, median 70 · Large: 23rd pctile, median 73
Evidence depth
Financial-only
99 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
52
watch · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
50
watch · capital discipline
Results
39
weak · quarterly consistency
Trust positives
- ▸Promoter holding is 56.7%.
- ▸Promoter pledge is zero.
- ▸9 years of positive FCF.
- ▸Debt/equity is 0.02.
Trust risks
- ▸Operating cash flow is negative at ₹-1364 Cr.
- ▸3 latest quarters had PAT decline worse than 25% YoY.
- ▸ROCE trend is -3.8%.
- ▸1/4 latest quarters had positive YoY PAT growth.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching ACC Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 28 Aug - ACC Limited has informed about the copy of newspaper publication intimating completion of dispatch of notice of National Company Law Tribunal (NCLT) convened Meeting in …
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 21 Aug - ACC to meet investors and analysts at Adani Annual Conference 2026 in London and Abu Dhabi.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 14 Jul - Post Results call with Investors / Analyst.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
Annual report
Business Responsibility and Sustainability Reporting (BRSR) 30 May - ACC submitted FY 2025-26 BRSR and Integrated Annual Report.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.