ACC Ltd(ACC)

NSE: ACCBSE: 500410

₹ 1,163-2.01%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 21,840 crNext results: 27 Oct 2026Website: www.acclimited.comUpdated: 24 Oct 2026

About

ACC Limited is an Indian cement and ready-mix concrete manufacturer operating as part of the Adani-owned Ambuja Cements group. Ambuja Cements owns 50.05% of ACC and Adani directly owns 6.64%, according to the FY25 annual report. ACC reported FY26 revenue of 25961.85 crore. ACC is being amalgamated into Ambuja Cements under a unified "One Cement Platform" strategy, and the merger is pending SEBI NOC and NCLT approvals.^[1][2]

Business segments

Cement and ancillary services: Rs 24,233.43 Cr in FY26, or 92.6% of segment revenue, with a 7.1% EBIT margin.^[3]
Ready Mix Concrete: Rs 1,936 Cr, or 7.4% of FY26 revenue, with a 7.6% EBIT margin. Its revenue share fell 1.4 pp over FY2018-FY2026.^[3]

Products and brands

As of FY25, 94% of ACC's cement portfolio was blended cement.^[2]
Green and premium cement brands include ACC F2R, ACC Suraksha, ACC Concrete Plus, ACC Gold and ACC HPC (FY25).^[2]
By Q2 FY26, all acquired brands (Orient, Penna, Sanghi) had been fully moved to Ambuja/ACC brands. Premium volumes grew 31% YoY in Q3 FY26.^[4]

Production capacity and operations

ACC had 19 cement manufacturing units and 102 ready-mix concrete plants as of FY25.^[2]
Total cement capacity was 109 MTPA at end-FY26. FY26 added 10.7 MnT of grinding capacity (Marwar, Farakka, Sankrail, Sindri, Krishnapatnam) and 7 MnT of clinker capacity (Jodhpur, Bhatapara).^[5]
About 3.5 MnT of annual capacity was temporarily suspended as of Q1 FY27 for efficiency assessment and upgrade planning.^[6]
Renewable energy capacity reached 973 MW in Q1 FY27, up about 500 MW YoY. Waste-heat recovery capacity is 228 MW.^[6]
Green power was 32.3% of power consumed in Q4 FY26, up 6.1 pp YoY. Unit power cost fell from Rs 5.9/kWh to Rs 4.9/kWh by Q1 FY27.^[5]
ACC acquired a coal mine in Madhya Pradesh in FY25. Kiln fuel cost fell from Rs 1.94 to Rs 1.61 per thousand kilocalories.^[2]

Key operating numbers

Cement sales volume was 17.1 MnT in Q1 FY27, down 7% YoY. Non-trade volumes were cut 21% YoY, while trade volumes fell 2%.^[6]
EBITDA per tonne was Rs 931 in Q1 FY27, against Rs 735 in Q4 FY26 and Rs 1,069 in Q1 FY26.^[6]
Net operating cost was Rs 4,241/ton in Q1 FY27, against Rs 4,447/ton in Q4 FY26.^[6]
Consolidated capacity utilisation was 65% in Q1 FY27, against 77% in Q4 FY26.^[6]
Blended cement was 85% of volumes in Q1 FY27, up 5 pp YoY. Clinker factor improved 2.1 pp YoY to 63.7%.^[6]
Premium products were 34% of trade sales in Q1 FY27. Primary lead distance was 249 km, down 20 km YoY.^[6]
Cement sales volume was 38.99 MT in FY25, against 35.26 MT the year before.^[2]
Ambuja consolidated (including ACC) sold 73.7 MnT in FY26, up 16% YoY, and held a 16.6% market share in Q3 FY26.^[5]

Customers and distribution

Trade sales were 78% of Q1 FY27 volumes, against 74% a year earlier. Management targets a trade share above 75%.^[6]
As of FY25, the channel network had about 57,104 channel partners and 43,177 retailers or sub-dealers, contributing around 77.6% of retail-segment cement sales.^[2]
As of FY25, ACC served 29 states and UTs and more than 565 districts, and did not export.^[2]
In FY25, ACC sold 9 million tonnes of cement and clinker under its Master Supply Agreement with Ambuja and other group companies.^[2]
As of Q1 FY27, the South region trade channel was still underdeveloped. Management guided 1-2 quarters to build it out.^[6]

Expansion and capex

Capacity is targeted at 119 MTPA by end-FY27 through 10.2 MnT of new capacity. Trial runs began in Q1 FY27 at Dahej (1.2 MT), Salai Banwa (2.4 MT), Bhatinda (1.2 MT) and Jodhpur (2 MT).^[6]
The Maratha clinker line (4 MnT) has been pushed to Q1 FY28. The Mundra clinker project (~2 MnT) is expected around FY29.^[6]
FY27 capex is guided at about Rs 6,500 Cr and FY28 at Rs 6,000-7,000 Cr, against about Rs 7,500 Cr spent in FY26.^[6]
Organic additions of 8-10 MnT a year are targeted from FY28. The long-term target of 155 MTPA is now expected around FY30.^[6]
WHRS capacity is planned to grow from 228 MW to 376 MW, adding about 148 MW through new kiln lines and upgrades at acquired assets.^[6]

Cost and green-energy targets

Net operating cost is targeted at about Rs 4,250/tonne for FY27 and about Rs 4,000/tonne or below in FY28.^[6]
Green power is targeted at 60% of consumption by FY28, up from 34% captive consumption in Q1 FY27. The coal block is expected to start operating about 30 months from Q1 FY27.^[6]
The thermal substitution rate is targeted to rise from 7% to 12-15% in FY27, with a longer-term target of 25%.^[6]

Recent developments

On 30 September 2026, ACC reported commissioning a 2.4 MTPA grinding unit at Salai Banwa, Uttar Pradesh and a 3.0 MTPA blending unit at Kalamboli, Maharashtra.^[7]
The Board approved the amalgamation of ACC and Orient Cement into Ambuja Cements in December 2025. As of Q1 FY27 it awaited SEBI NOC and NCLT approvals, with completion expected over FY27.^[6]
Sanghi Industries' merger into Ambuja Cements took effect on 12 March 2026, and Penna Cement's on 10 April 2026.^[5]

Market Cap

₹21,840 Cr

High / Low

₹1,987 / 1,123

Stock P/E

11.4

Price / Book

1.1

Book Value

₹1,094

EPS

₹113.8

No. of Shares

18.78 Cr

ROCE

11.3%

ROE

10.9%

OPM

8.5%

Debt / Equity

0.00

Sales

₹25,962 Cr

Net Profit

₹2,137 Cr

Promoter holding

56.7%

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ACC Ltd(ACC)

About

Business segments

Products and brands

Production capacity and operations

Key operating numbers

Customers and distribution

Expansion and capex

Cost and green-energy targets

Recent developments

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