ACC Limited
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BSE Code:
500410
NSE Code:
ACC
Business Profile
Business Profile
Associated Cement Companies (ACC) is India`s foremost manufacturer of cement and ready mix concrete. It was set up in 1936 when 10 cement companies belonging to Tata, Khatau, Dinshaw and Killick Nixon were amalgamated to form a single entity. N.S. Sekhsaria is the chairman and Sumit Banerjee, the managing director of the company.
ACC manufactures various kinds of portland cement for general construction and special applications. It also offers two value-added products, namely bulk cement and ready mix concrete. ACC`s operations are spread throughout the country with 14 modern cement factories, 19 ready mix concrete plants, 19 sales units, 54 area offices, and 194 warehouses. This is backed by a countrywide network of over 9,000 dealers. ACC is planning exclusive retail outlets in all major towns of Andhra Pradesh. These exclusive retail outlets will provide information on best construction practices, professionals and building material suppliers. The company has a 19.91 MTPA cement capacity. It will invest Rs 14.87 billion to increase the clinkering capacity at the new Wadi plant, additional grinding facility, and a captive power plant of 50 MW in Karnataka.
The company has two subsidiaries; Bulk Cement Corporation India caters to bulk cement requirements and ACC Machinery Company manufactures machinery and equipment for use in chemicals and cement industries. It has associations with Yanbu Cement Company, Saudi Arabia for operating and managing their cement plant and Dangote Industries for engineering consultancy for setting up new cement plants for them. ACC has won several prizes and accolades for environment friendly measures taken at its plants and mines.
The corporate and registered offices are at Cement House, 121, Maharishi Karve Road, Mumbai-400020.
Financials
The company disclosed a steady growth in standalone net profit for the quarter ended March 2009. During the quarter, the profit of the company rose 13.21% to Rs 4,047.64 million from Rs 3,575.40 million in the same quarter previous year. Net sales for the quarter rose 15.92% to Rs 20,817 million, while total income for the quarter rose 13.14% to Rs 21,059.05 million, when compared with the prior year period. It reported earnings of Rs 21.57 a share during the quarter, registering 13.17% growth over previous year period.
Recent Developments
02-APR-09
The company reported a rise of 5.85% for the month of March 2009. During the month, the company produced 1.99 million tons of cement as against 1.88 million tons produced in March 2008.
09-OCT-08
The company has acquired 40% stake in Goa-based Alcon Cement Company, having a capacity of 500 tons a day, for Rs 222.5 million, reports Business Standard.
17-SEP-08
The company has proposed to delist its global depository receipts (GDRs) from the London Stock Exchange (LSE).
11-MAR-08
ACC divested its wholly owned subsidiary ACC Machinery (AMCL) to HNG Group for a consideration of Rs 450 million on Mar. 11, 2008.
09-OCT-07
ACC started its first wind energy farm located in Udayathoor in Tirunelveli district, Tamil Nadu. This initiative is part of the company`s efforts to adopt clean and green technologies to reduce dependence on conventional fossil fuel based energy sources. The wind power plant comprises six modern wind turbines of capacity 1.5 MW each made by Suzlon Energy. The project was executed in a record time of three months from start to finish
22-AUG-07
ACC is planning to import cement from the operations of Holcim Bangladesh, its associate company, to keep pace with the rise in demand.