ACC Estimates Equity report

Long Term BUY: 37% Upside (Period-3 years)

Rating

ACC Limited is India's leading manufacturer of cement with a Pan India network of factories and marketing offices. Cements and blended cements is marketed through a network of 19 Sales Units, 54 Area Offices, and 194 warehouses. This is backed by a countrywide network of over 9,000 dealer who, in turn, are assisted by their sub-dealers. ACC's marketing; sales and distribution processes are industry standards. At current levels of Rs 1107, ACC is trading at its CY10E and its CY12E. On EV/EBIDTA ACC is trading at it FY10E and its CY12E. Hence we recommend a buy on 3 year horizon.

2010

Rating Matrix BUY INR 1107 INR 1146 % 1 year INR 1518 37% 3 years CMP Target Price Potential...