ACC

ACC share price & financials

Price
₹1,343.3
Market cap
₹26.2k Cr
Sector
Construction Materials
Calls analysed
7
Latest concall · Q1 FY27 · call held 28 Jul 2026

ACC Limited Q1 FY27

Revenue ₹9,500 cr Operating EBITDA ₹1,589 cr EBITDA Margin 16.7% PAT ₹660 cr

What went well

  • Revenue of ₹9,500 crores and Operating EBITDA of ₹1,589 crores for Q1 FY27.
  • EBITDA margin improved 331 basis points to 16.7%, with EBITDA per ton at ₹931.
  • Net operating cost reduced by ₹206 per metric ton sequentially to ₹4,241 per metric ton, aligning with FY27 target of ₹4,250/ton.

What to watch

  • Overall volume declined 2% Y-o-Y on trade and 21% Y-o-Y on non-trade in Q1 FY27, attributed to geopolitical tensions and strategic reduction of low-margin volumes.
  • RMC segment EBITDA margin dropped sharply to 7% in Q1 FY27 from 14-15% in previous quarters, though management noted it's a smaller segment.
Read the full call →

What ACC Limited does

ACC Limited manufactures and sells cement, and also produces ready-mix concrete (RMC), across India through a nationwide network of dealers and channel partners. It is part of Adani Cement, the Adani Group's building-materials platform (alongside Ambuja Cements, Orient Cement, Sanghi and Penna), which is being consolidated into a unified 'One Cement Platform'; ACC and Orient are undergoing amalgamation into Ambuja Cements, pending regulatory approvals. Beyond core cement manufacturing, ACC runs a technical-services platform that advises builders, contractors, architects and individual home builders on construction quality and durability, drawing on its long-standing expertise in cement and concrete technology.

Segments

  • Cement
  • Ready-Mix Concrete (RMC)
Channel partners
60,000+
Industry heritage
India's first cement company
Group platform position
Part of Adani Cement, described as the world's ninth-largest building materials solutions company
Founded 1936Headquarters Ahmedabad, Gujarat, India Company website

Guidance record · Q1 FY27

what the last two calls moved 16 tracked 1 delivered 4 missed 11 open
  • Cost per tonne by FY27 delivered said Q4 FY26 Promised: INR 4,250 per tonne by FY27 Q1 FY27: Achieved in Q1 FY27 with a net operating cost of INR 4,241 per ton, below the full-year target of INR 4,250. Management has reaffirmed the full-year guidance.
  • Total Cement Capacity by FY28 went quiet said Q3 FY25 Promised: 140 million tons by FY28 Q1 FY27: No update on a specific long-term FY28 target after the 'reset'. Management now guides for 8-10 MTPA annual additions, which is a new, separate guidance.
  • EBITDA per Ton by FY28 at risk said Q4 FY25 Promised: INR 1,500 EBITDA per ton by FY28 Q1 FY27: EBITDA/ton improved to INR 931 from INR 887 last quarter. While this is positive movement, the target of INR 1,500 by FY28 remains distant and challenging.

All 16 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue down 4.6%, net profit down 60.8% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue4,634 5,972 6,115 6,087 6,005 +30%6,483 +9%7,146 +17%5,808 −5%
EBITDA436 1,116 830 778 846 +94%700 −37%626 −25%457 −41%
Net profit200 1,092 751 375 1,119 +460%404 −63%238 −68%147 −61%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −32.6% 1Y

₹1.2k₹1.4k₹1.6k₹1.8kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 3 Nov 2025Q3 FY26 — 30 Jan 2026Q4 FY26 — 4 May 2026Q1 FY27 — 28 Jul 2026

1Y: ₹1,848.8 on 10 Sept 2025 → ₹1,246.5. High ₹1,913.7 (24 Nov 2025), low ₹1,246.5 (11 Sept 2026).

How the price took the results

close before → close after

Q1 FY27
−1.2%
28 Jul
Q4 FY26
−1.7%
4 May
Q3 FY26
−2.5%
30 Jan
Q2 FY26
−0.6%
3 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 13.1% a year over 3 years, FY23 to FY26. Operating margin widened to 11.5%.

Year endingFY23FY24FY25FY26
Revenue₹17.8k Cr₹20.0k Cr₹21.9k Cr₹25.7k Cr
Operating profit₹1.3k Cr₹3.1k Cr₹3.1k Cr₹3.0k Cr
Operating margin7.3%15.3%14.0%11.5%
Interest₹67 Cr₹155 Cr₹108 Cr₹112 Cr
Depreciation₹688 Cr₹885 Cr₹1.0k Cr₹1.1k Cr
Net profit₹489 Cr₹2.3k Cr₹2.4k Cr₹2.1k Cr
Net margin2.7%11.7%11.0%8.3%
ROCE9.0%17.0%17.0%11.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY20FY21FY23FY24FY25FY26
Equity capital₹188 Cr₹188 Cr₹188 Cr₹188 Cr₹188 Cr₹188 Cr
Reserves₹12.5k Cr₹14.1k Cr₹13.9k Cr₹16.1k Cr₹19.7k Cr₹20.4k Cr
Borrowings₹102 Cr₹126 Cr₹153 Cr₹355 Cr₹485 Cr₹429 Cr
Other liabilities₹5.4k Cr₹6.6k Cr₹6.3k Cr₹6.7k Cr₹6.1k Cr₹6.5k Cr
Total liabilities₹18.2k Cr₹21.0k Cr₹20.5k Cr₹23.4k Cr₹26.5k Cr₹27.5k Cr
Fixed assets₹6.7k Cr₹6.8k Cr₹7.5k Cr₹10.0k Cr₹11.3k Cr₹11.3k Cr
Capital work in progress₹548 Cr₹1.2k Cr₹1.7k Cr₹986 Cr₹1.9k Cr₹2.2k Cr
Investments₹129 Cr₹150 Cr₹163 Cr₹811 Cr₹51 Cr₹55 Cr
Other assets₹10.8k Cr₹12.9k Cr₹11.2k Cr₹11.6k Cr₹13.2k Cr₹14.0k Cr
Total assets₹18.2k Cr₹21.0k Cr₹20.5k Cr₹23.4k Cr₹26.5k Cr₹27.5k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs trimmed −3.01 pp while the public added +1.83 pp. The shareholder count grew 9% to 2,38,540.

Promoters
56.7%
FIIs
5.8%
DIIs
21.1%
Government
0.1%
Public
16.2%

Since Jun 2025

  • DIIs −3.01 pp
  • Public +1.83 pp
  • FIIs +1.17 pp

How it drifted, 12 quarters

Over this window the public went from 13.3% to 16.2% — +2.9 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 56.7%, FIIs 7.1%, DIIs 22.8%, Government 0.1%, Public 13.3%.Dec '23: Promoters 56.7%, FIIs 6.2%, DIIs 24.1%, Government 0.1%, Public 12.8%.Mar '24: Promoters 56.7%, FIIs 6.2%, DIIs 24.6%, Government 0.1%, Public 12.3%.Jun '24: Promoters 56.7%, FIIs 5.6%, DIIs 24.8%, Government 0.1%, Public 12.7%.Sep '24: Promoters 56.7%, FIIs 5.5%, DIIs 24.4%, Government 0.1%, Public 13.2%.Dec '24: Promoters 56.7%, FIIs 5.1%, DIIs 24.7%, Government 0.1%, Public 13.3%.Mar '25: Promoters 56.7%, FIIs 4.8%, DIIs 24.9%, Government 0.1%, Public 13.4%.Jun '25: Promoters 56.7%, FIIs 4.7%, DIIs 24.1%, Government 0.1%, Public 14.4%.Sep '25: Promoters 56.7%, FIIs 5.0%, DIIs 22.6%, Government 0.1%, Public 15.6%.Dec '25: Promoters 56.7%, FIIs 6.0%, DIIs 21.4%, Government 0.1%, Public 15.8%.Mar '26: Promoters 56.7%, FIIs 5.9%, DIIs 21.6%, Government 0.1%, Public 15.6%.Jun '26: Promoters 56.7%, FIIs 5.8%, DIIs 21.1%, Government 0.1%, Public 16.2%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 2 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of ACC Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Ambuja Cements Limited 50.05%unchanged
Life Insurance Corporation Of India - Ulif00220091 Insurer10.51%newly disclosed
Holderind Investments Ltd 4.48%unchanged
HDFC Mutual Fund - HDFC BSE 500 ETF Mutual fund2.76%unchanged
Endeavour Trade And Investment Limited 2.16%unchanged
ICICI Prudential Commodities Fund Mutual fund1.86%newly disclosed
SBI Large & Midcap Fund Mutual fund1.68%−0.26 pp
LICI ULIP-Growth Fund Insurer—off the list
ICICI Prudential Mutual Fund - ICICI Prudential Ni - 2 Mutual fund—off the list

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in ACC

Filings to Aug 2026

0 new, 6 added, 1 trimmed, 0 sold out — net +0.05 L shares (+0.1%).

Held by funds
₹471 Cr
11 schemes
Biggest holder
SBI Contra Fund
₹184 Cr · 0.4% of that fund
SchemeHoldingLast month
SBI Contra Fund SBI Mutual Fund₹184 Crheld
SBI Large and Midcap Fund SBI Mutual Fund₹173 Crheld
HDFC Large and Mid Cap Fund HDFC Mutual Fund₹56 Crheld
SBI Balanced Advantage Fund SBI Mutual Fund₹41 Crheld
Nippon India ETF Nifty Midcap 150 Nippon India Mutual Fund₹7 Cr+0.03 L
Nippon India Nifty Midcap 150 Index Fund Nippon India Mutual Fund₹5 Cr+0.01 L
SBI Nifty Midcap 150 Index Fund SBI Mutual Fund₹2 Cr+0.01 L
Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund₹1 Cr+0.00 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

6 added, 1 trimmed — net +4,860 shares (+0.1%)

Funds are sitting on
-36%
vs est. average cost
Held by funds
₹471 Cr
11 schemes · ≈ 1.9% of the company
Biggest holder
SBI Contra Fund
₹184 Cr · 0.4% of that fund
Longest holder
SBI Balanced Advantage Fund
5y · since Sep '21

Shares held by these funds −28%

Aug '23 36.57 L shares Jul '26

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse ACC Limited

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