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Profit & Loss
Balance Sheet
Cash Flow
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Mkt Cap
Market Capitalization
₹26,978Cr
Rev Gr TTM
Revenue Growth TTM
16.38%
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Compare up to 10 companies side by side across valuation, profitability, and growth.

ACC
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | 8.2 | 16.4 | 11.2 | 8.3 | 12.9 | 0.0 | 4.5 | 21.5 | 13.1 | 17.1 | 29.6 | 8.6 |
| 4,322 | 4,430 | 3,885 | 4,010 | 4,572 | 4,520 | 4,198 | 4,856 | 5,284 | 5,309 | 5,159 | 5,783 |
Operating Profit Operating ProfitCr |
| 9.8 | 14.8 | 12.4 | 18.4 | 15.5 | 13.1 | 9.4 | 18.7 | 13.6 | 12.8 | 14.1 | 10.8 |
Other Income Other IncomeCr | 55 | 80 | 212 | 94 | 350 | 73 | 123 | 649 | 330 | 70 | 225 | 91 |
Interest Expense Interest ExpenseCr | 15 | 25 | 29 | 34 | 67 | 33 | 33 | 28 | 14 | 30 | 29 | 26 |
Depreciation DepreciationCr | 177 | 200 | 213 | 235 | 237 | 235 | 242 | 260 | 265 | 255 | 279 | 306 |
| 331 | 626 | 519 | 729 | 883 | 484 | 284 | 1,477 | 882 | 563 | 763 | 460 |
| 96 | 159 | 132 | 192 | -60 | 124 | 84 | 385 | 131 | 188 | -356 | 56 |
|
Growth YoY PAT Growth YoY% | -40.5 | 105.0 | 544.2 | 375.0 | 300.3 | -22.8 | -48.5 | 103.1 | -20.4 | 4.4 | 460.5 | -63.0 |
| 4.9 | 9.0 | 8.8 | 10.9 | 17.4 | 6.9 | 4.3 | 18.3 | 12.3 | 6.2 | 18.6 | 6.2 |
| 12.6 | 24.8 | 20.7 | 28.6 | 50.2 | 19.2 | 10.6 | 58.1 | 40.0 | 20.0 | 59.6 | 21.5 |
| Financial Year | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | 0.5 | -5.3 | 19.0 | 11.4 | 5.8 | -11.9 | 17.2 | | -10.1 | 9.0 | 13.4 |
| 10,226 | 10,260 | 9,747 | 11,373 | 12,754 | 13,245 | 11,431 | 13,154 | 20,285 | 16,897 | 18,701 | 21,535 |
Operating Profit Operating ProfitCr |
| 12.9 | 13.0 | 12.7 | 14.4 | 13.8 | 15.4 | 17.1 | 18.6 | 8.7 | 15.3 | 14.1 | 12.8 |
Other Income Other IncomeCr | 257 | -45 | 69 | 140 | 153 | 332 | 50 | 164 | 196 | 735 | 1,175 | 717 |
Interest Expense Interest ExpenseCr | 83 | 65 | 69 | 99 | 88 | 86 | 57 | 55 | 77 | 155 | 108 | 99 |
Depreciation DepreciationCr | 568 | 663 | 615 | 644 | 603 | 606 | 639 | 601 | 841 | 883 | 1,001 | 1,104 |
| 1,120 | 766 | 805 | 1,310 | 1,510 | 2,053 | 1,709 | 2,506 | 1,203 | 2,759 | 3,127 | 2,668 |
| -31 | 190 | 210 | 386 | -11 | 675 | 279 | 643 | 317 | 423 | 725 | 18 |
|
| | -50.0 | 3.5 | 55.2 | 64.5 | -9.4 | 3.8 | 30.3 | | 163.9 | 2.8 | 10.3 |
| 9.8 | 4.9 | 5.3 | 7.0 | 10.3 | 8.8 | 10.4 | 11.5 | 4.0 | 11.7 | 11.0 | 10.7 |
| 61.9 | 31.3 | 35.1 | 49.2 | 81.0 | 73.3 | 76.2 | 99.2 | 47.1 | 124.3 | 127.9 | 141.1 |
| Financial Year | 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 Equity CapitalCr | 188 | 188 | 188 | 188 | 188 | 188 | 188 | 188 | 188 | 188 | 188 | 188 |
| 8,030 | 8,233 | 8,454 | 9,168 | 10,344 | 11,356 | 12,511 | 14,121 | 13,950 | 16,142 | 18,367 | 19,745 |
Current Liabilities Current LiabilitiesCr | 3,804 | 3,786 | 4,051 | 4,793 | 4,706 | 4,698 | 4,804 | 6,006 | 5,641 | 6,097 | 5,668 | 5,155 |
Non Current Liabilities Non Current LiabilitiesCr | 657 | 590 | 691 | 694 | 815 | 891 | 694 | 721 | 761 | 955 | 1,186 | 1,409 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 3,678 | 3,404 | 4,070 | 5,655 | 6,684 | 7,535 | 8,449 | 10,368 | 8,255 | 9,726 | 9,144 | 10,397 |
Non Current Assets Non Current AssetsCr | 9,003 | 9,396 | 9,317 | 9,191 | 9,372 | 9,601 | 9,752 | 10,671 | 12,289 | 13,660 | 16,268 | 16,098 |
Total Assets Total AssetsCr |
| Financial Year | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 1,352 | 1,457 | 1,391 | 1,554 | 1,118 | 2,255 | 2,219 | 2,835 | -1,235 | 2,995 | 1,711 |
Investing Cash Flow Investing Cash FlowCr | -1,457 | -904 | -535 | -380 | -364 | -322 | -535 | -988 | -4,637 | -1,245 | -1,277 |
Financing Cash Flow Financing Cash FlowCr | -837 | -716 | -431 | -426 | -380 | -374 | -327 | -331 | -1,238 | -443 | -1,002 |
|
Free Cash Flow Free Cash FlowCr | -251 | 337 | 889 | 1,034 | 1,140 | 2,309 | 2,220 | 1,682 | -3,216 | 1,646 | -242 |
| 117.5 | 253.1 | 233.4 | 168.1 | 73.5 | 163.7 | 155.2 | 152.2 | -139.5 | 128.2 | 71.2 |
CFO To EBITDA CFO To EBITDA% | 89.3 | 94.7 | 97.9 | 81.3 | 54.6 | 93.5 | 94.2 | 94.6 | -64.2 | 97.8 | 55.9 |
| Financial Year | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 26,274 | 25,526 | 24,946 | 33,011 | 28,258 | 27,129 | 30,391 | 41,640 | 31,299 | 46,772 | 36,489 |
Price To Earnings Price To Earnings | 25.2 | 48.9 | 37.9 | 35.8 | 18.6 | 19.7 | 21.3 | 22.4 | 44.3 | 20.0 | 15.2 |
Price To Sales Price To Sales | 2.2 | 2.2 | 2.3 | 2.5 | 1.9 | 1.7 | 2.2 | 2.6 | 1.4 | 2.3 | 1.7 |
Price To Book Price To Book | 3.2 | 3.0 | 2.8 | 3.5 | 2.7 | 2.4 | 2.4 | 2.9 | 2.2 | 2.9 | 2.0 |
| 17.2 | 16.5 | 17.4 | 15.8 | 12.3 | 9.3 | 10.4 | 11.4 | 16.1 | 14.8 | 11.5 |
Profitability Ratios Profitability Ratios |
| 83.2 | 84.3 | 84.8 | 85.2 | 84.2 | 82.6 | 81.8 | 82.3 | 75.4 | 70.9 | 62.1 |
| 12.9 | 13.0 | 12.7 | 14.4 | 13.8 | 15.4 | 17.1 | 18.6 | 8.7 | 15.3 | 14.1 |
| 9.8 | 4.9 | 5.3 | 7.0 | 10.3 | 8.8 | 10.4 | 11.5 | 4.0 | 11.7 | 11.0 |
| 14.6 | 9.9 | 10.1 | 15.1 | 15.2 | 18.5 | 13.8 | 17.7 | 9.0 | 17.5 | 17.0 |
| 14.0 | 6.8 | 6.9 | 9.9 | 14.4 | 11.9 | 11.3 | 13.0 | 6.3 | 14.3 | 12.9 |
| 9.1 | 4.5 | 4.5 | 6.2 | 9.5 | 8.0 | 7.9 | 8.9 | 4.3 | 10.0 | 9.4 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
ACC Limited, a flagship company in the building materials sector and a part of the Adani Group since 2022, is India’s first and foremost Portland cement and Ready-Mix Concrete (RMX) manufacturer. With nearly 90 years of leadership in innovation, technology, and sustainable construction, ACC operates across a vast network of **19 cement plants** and **102 RMX units** in 19 states. As part of Adani Cement’s consolidated business (alongside Ambuja Cements), ACC is driving industry transformation through digitalization, sustainability, and aggressive capacity expansion.
ACC is transitioning from a product-centric to a **service-driven, solutions-based business model**, with a strategic focus on premium products, green construction, and deep customer engagement. The company holds a leading position in the **Individual Home Builder (IHB)** and **contractor segments**, and is recognized for iconic brands such as **ACC Gold**, **ACC Silver**, and **ACC ECOMaxX**.
---
### **Strategic Pillars (Post-Adani Acquisition)**
Since the Adani Group took control in September 2022, ACC has been restructured around three core pillars:
- **Growth through organic and inorganic expansion**
- **Cost leadership and operational efficiency**
- **Sustainability and ESG excellence**
The integration with the Adani ecosystem has enabled access to captive coal, renewable energy, port-rail logistics, and advanced digital infrastructure — positioning ACC as a **low-cost, high-efficiency** cement producer.
---
### **Capacity & Expansion**
ACC is on track to achieve **140 MTPA (million tonnes per annum)** of cement production capacity by **FY28**, supported by a clear roadmap of organic and inorganic growth:
- **Current Cement Capacity (2025):** ~91 MTPA (97 MTPA including Orient Cement)
- **Clinker Capacity:** 56 MTPA (expected to reach 89 MTPA)
- **Future Projects:** Brownfield expansions in **Bathinda (Punjab)**, **Marwar (Rajasthan)**, and **Sankrail (WB)**; new clinker/grinding units in **Bhatapara (Chhattisgarh)**, **Sindri (Jharkhand)**, and **Salai Banwa (UP)**
- ACC and Ambuja together now have over **100 MTPA** of combined capacity — a 50% increase in 30 months — and target **140 MTPA by FY28**
Coal & limestone security is ensured through:
- **10 new limestone mines** acquired in Rajasthan, Gujarat, Odisha, etc. (586 million tonnes reserves)
- Captive coal mines: **Gare Palma**, **Dahegaon Gowari**, and **Lama Tola** (meeting ~50% of kiln coal needs)
---
### **Digital Transformation & Innovation**
ACC is at the forefront of India’s cement industry digital revolution:
#### **AI & Centralized Command Center**
- **CiNOC (Cement Network Operating Centre):** Launched in Ahmedabad, integrates **Agentic AI** and **Operations Research (MILP)** for autonomous decision-making across sales, logistics, and production.
- **Real-Time Optimization:** Using data analytics, supply chain AI, and **Power BI dashboards** for clinker allocation, demand forecasting, and logistics planning up to a year ahead.
- **Digital Platform:** 124 automation bots saving **160,000+ man-hours**, CRM used by **3,000+ staff**, and a contractor platform serving **620,000+ users**.
#### **Industry 4.0 Implementation**
- Robotics, drone-based maintenance, automated quality testing, and AI-powered predictive maintenance in plants.
- **'Plants of Tomorrow'** initiative: Real-time monitoring via **Technical Information System (TIS)** and **PACT dashboards**.
- Deployment of **Blue Yonder** for demand/supply forecasting and **Transport Analytics Center (TAC)** for logistics efficiency and CO₂ reduction.
---
### **Ready-Mix Concrete (RMX) Business**
- **Network:** 102 plants across 54 cities, active in the sector for over **30 years**.
- **Positioning:** A key **growth engine** with GRIHA, EPD, and GreenPro certifications.
- **Green Leadership:**
- **34–38% of RMX sales** come from **value-added, eco-friendly solutions**.
- Flagship product: **ACC ECOMaxX** (GreenPro-certified, reduces CO₂ by 30–100%), accounts for **11% of RMX sales**.
- Other innovations: **ACC Coolcrete**, **ACC Bagcrete**, **ACC AEROMaxX**, **ACC Feathercrete**
- Expansion: 14 new RMX plants commissioned under Adani; 10 **internal project-based plants** supporting Adani infrastructure.
---
### **Sustainability & Decarbonization**
ACC is a leader in green cement manufacturing:
- **90% of cement portfolio** is **blended (PPC)**, low-carbon products.
- **Waste Co-processing:** Manages **8.2 lakh tonnes** of industrial/municipal waste annually with **zero residue**.
- **Energy Transition:**
- 218 MW of **Waste Heat Recovery Systems (WHRS)**; targeting 30% of energy from WHRS at full capacity.
- Investing in **1,000 MW renewable energy**: **300 MW operational**, full commissioning by **FY26**.
- **Alternative Fuels (AFR):** Targeting **30% substitution** (currently >20%).
- **CCUS and Net Zero Roadmap:** R&D underway on **carbon-neutral concrete** and **Ultra-High-Performance Concrete (UHPC)**.
---
### **Product Portfolio**
ACC offers a tiered, application-specific product range:
#### **Cement:**
- **Super Premium:** ACC Gold Range (e.g., **Gold Water Shield** – water-repellent, market leader since 2013)
- **Premium:** ACC Silver Range (value-conscious)
- **Performance Cements:**
- **ACC Suraksha Power/Power+** (long-term strength, tamper-proof packaging)
- **ACC HPC Long Life** (high-density concrete)
- **ACC F2R Superfast** (rapid strength gain)
- **ACC Concrete+ Xtra Strong** (enhanced binding)
#### **Solutions & Products (S&P):**
- **Construction Chemicals:** ACC ADMIX (PCE-based superplasticizer), LeakBlock range (LB 202, LB 303)
- **Dry Mortars:** ACC Xtra Strong tile adhesives (XT series), LB 101 Waterproof Plaster
- **Precast:** ACC+ blocks, bricks, cover blocks, railway copings
#### **Innovations:**
- **ACC Thermofillcrete** (heat-dissipating concrete)
- **ACC Suraksha NX Antiwashout Concrete** (for high-water-table foundations)
- **ECOPact** (launched with Holcim, low-carbon concrete)
---
### **Market & Branding Strategy**
ACC has strengthened brand equity and visibility across B2B and B2C channels:
#### **Marketing Impact (Oct 2025)**
- **IPSOS Brand Research:** High top-of-mind recall and consumer preference in key Indian states.
- **"Adani" brand association:** Increasingly linked with **cement and building materials**.
- **Sponsorships:** Gujarat Giants (Pro Kabaddi League) for mass visibility.
- **Cinema Advertising:** High-impact campaigns across multiplexes and single screens.
- **Reach:** Over **300 million people** touched through multi-platform engagement.
#### **Campaigns & Loyalty**
- **Premium Positioning:** Promotions for **ACC Gold** with seasonal water-repellent messaging.
- **Loyalty Program:** **Atoot Bandhan 2.0** — 43,594 contractors enrolled, earning points for site registrations, purchases, and referrals.
- **Content Marketing:** Relaunch of **"Heroes of Adani"** documentary series showcasing dealer success stories.
#### **Distribution Network**
- **43,000+ retailers & sub-dealers** (expanded from 39,600 in 2024)
- **13,000+ channel partners**
- **80–81% of sales** through **retail/trade segment**, primarily serving IHBs
- Dedicated **B2B and B2C teams**, **technical service network** of **1,000+ engineers**
---
### **Sales & Marketing**
- Focus on **10 high-growth states** (UP, Rajasthan, Gujarat, Maharashtra, etc.)
- Push towards **B2B sales growth**, aiming to increase from **21% to 25%** of total sales by FY27.
- Target: Increase **premium product share** in trade sales from **22% to nearly 30%**.
- **Digital Lead Generation:** Mobile apps (Dealer Connect, Concrete Direct), social media engagement, construction apps, and influencer targeting via **Ambuja Knowledge Centre (AKC)**.
---
### **Financial & Operational Highlights**
- **Cost Leadership Target:** Reduce cost to **₹3,650/ton by FY28**, down from previous targets.
- Achieved through:
- **Fly ash security** from Adani power plants (35% of cement input)
- **Dedicated rail rakes:** 11 GPWIS for clinker, 62 BCFC for fly ash
- **Green power** and **captive coal** reducing fuel costs
- **Supply Chain Optimization:**
- Linear programming-based S&OP with real-time order allocation system in development
- Multi-modal logistics: rail, sea, BCTs (Bulk Cement Terminals)
---
### **Corporate & Governance**
- **Ownership:** Adani Group owns **63.15% of Ambuja Cements**, which holds **50.05% of ACC**; Adani directly holds **6.64%** in ACC.
- **Subsidiaries:** ACC Mineral Resources Ltd, Bulk Cement Corp India Ltd, ACC Concrete South Ltd, Asian Concretes & Cements Pvt Ltd.
- **Joint Ventures:** 49% stakes in 4 MP AMRL coal JVs, 40% in Aakaash Manufacturing (RMX), 50% in OneIndia BSC (shared services).