AMCD Acc Gds (Regs)

RNS Number:0604T
ACC Limited
24 April 2008




                    ACC  LIMITED
          Registered Office : Cement House,
     121, Maharshi Karve Road, Mumbai - 400 020
            UNAUDITED STANDALONE FINANCIAL 
            RESULTS  FOR THE QUARTER ENDED
                  MARCH 31, 2008

        PROFIT BEFORE INTEREST, DEPRECIATION &
        EXCEPTIONAL ITEMS DECLINED BY 4.4%
        SALES VOLUME  FOR Q-1 2008 UP BY 9.5 %
        SALES VALUE FOR Q-1 2008 EXCLUDING RMX UP
                        BY 12.6 %


I. The following unaudited accounts of the quarter ended March 31, 2008 which have been subjected to a limited review
   by the auditors have been reviewed by the audit committee and have been approved by the Board of Directors of the
   Company at its meeting held on April 24, 2008.The text of this statement was also taken on record.

II  STANDALONE   RESULTS

                                                     QUARTER ENDED   QUARTER ENDED     YEAR  ENDED
                                                        31-3- 2008      31-3- 2007     31-12- 2007
                                                         UNAUDITED       UNAUDITED         AUDITED
                                                         Rs. Crore       Rs. Crore       Rs. Crore
 1  SALES / INCOME FROM OPERATIONS                         2031.45         1858.28         7848.32
              LESS: EXCISE DUTY RECOVERED                   235.70          183.32          841.15
              NET SALES / INCOME FROM OPERATIONS           1795.75         1674.96         7007.17

 2  OTHER INCOME

    i)  Dividend                                             16.77           14.84           41.03
    ii) Gain/(Loss) on foreign exchange (Net)               (0.78)            2.77            7.32
    iii) Other items                                         48.58           23.63          118.00
    iv) Profit on sale of investments                         1.05           12.26           12.38

 3  TOTAL  INCOME (1+2)                                    1861.37         1728.46         7185.90

 4   EXPENDITURE
    a) (Increase) /Decrease in stock in trade and            48.85            3.47          (6.93)
       work in progress
    b) Consumption of Raw materials                         196.57          184.50          816.74
    c) Purchase of traded Cement & Other Products            27.62           12.79           93.31
    d) Employee cost                                         79.30           73.27          352.73
    e) Power & Fuel                                         328.73          263.09         1194.62
    f) Outward Freight charges on Cement etc.               243.49          251.28          944.22
    g) Excise Duties  (Net)                                  29.41           40.07          129.17
    h) Depreciation                                          71.35           74.39          305.07
    i) Other Expenditure                                    371.23          339.16         1565.92
    Total Expenditure                                      1396.55         1242.02         5394.85

 5  Interest                                                  5.57           17.03           73.87

 6  Profit before Exceptional Items and Tax  (3) -          459.25          469.41         1717.18
   ( 4+5)

 7  EXCEPTIONAL ITEMS ( Refer Note 4)
    a) (Profit) / Loss  on sale of land and                   0.29             -          (201.43)
       undertakings / business                                                     
    b) Profit on sale of investments in subsidiary                         
       / associates                                        (36.86)          (7.70)         (11.68)


 8  Profit from ordinary activities before tax              495.82          477.11         1930.29
   (6-7)

 9  Tax Expenses ( including Fringe Benefit Tax)            138.28          121.46          491.70

10  Net Profit for the period (8-9)                         357.54          355.65         1438.59




                                                         -2-



                                                     QUARTER ENDED   QUARTER ENDED     YEAR  ENDED
                                                        31-3- 2008      31-3- 2007     31-12- 2007
                                                         UNAUDITED       UNAUDITED         AUDITED
                                                         Rs. Crore       Rs. Crore       Rs. Crore

11  Paid-up Equity Share Capital                            187.84          187.57          187.83
    ( Face value per share Rs.10 )
12 Reserves excluding Revaluation Reserves as per                                         
   Balance Sheet of previous accounting year                     -             -           3964.78


13  Basic Earnings per Share               Rs.               19.06           18.99           76.75
    Diluted Earnings per Share             Rs.               19.00           18.90           76.45
    ( EPS for quarter not annualised )
14  Public shareholding
    Number of Shares                                  10,70,02,916    11,60,94,471    10,69,92,337
    Percentage of Shareholding                              57.03%          61.96%          57.02%



Notes:

1) With effect from January 1, 2008 the Company transferred its Ready-Mix Concrete business to its wholly-owned 
   subsidiary- ACC Concrete Limited.- for a consideration of Rs.100 crore, which is subject to adjustment on 
   finalisation of the net assets transferred. Consequent to the transfer of this business, the Company has only a
   single segment comprising its cement operations. Further, the results for the quarter are not strictly comparable 
   with those of the corresponding previous period.

2) For the quarter ended March 31, 2008,  ACC Concrete Limited has reported net sales of Rs.124.32 crore and net loss of
   Rs.19.98 crore .

3) The State of Uttar Pradesh introduced Value Added Tax effective from January 1, 2008 which has resulted into net 
   sales being lower by Rs. 27.56 crore for the quarter ended March 31, 2008. The Company has made a representation to 
   State of Uttar Pradesh for continuation of existing sales tax benefit instead of deferral scheme under new law.

4) Exceptional Item 7 for the quarter comprises:
   (a) Loss of Rs.0.29 crore on divestment of Ready-Mix Concrete business, and
   (b) Profit of Rs.36.86 crore arising on the disposal of the investment in the Company's wholly-owned subsidiary,
       ACC Machinery Company Ltd.


5) Subsequent to the quarter-end, the Company has purchased 4,08,001 equity shares- representing 40% of the equity of -
   Alcon Cement Company Pvt. Ltd.(' ALCON' ) for a consideration of Rs 22.25 Crore. ALCON has a cement grinding
   facility situated at Goa. The Company has an arrangement for trading cement produced by ALCON since last several     
   years.


6) For the year ended December 31, 2007 the Company had recognised an additional depreciation charge arising from a 
   change in the rates of depreciation for certain Cement Grinding plants. The depreciation and profit before tax for 
   the quarter ended March 31, 2007 are restated by Rs.12.27 crore to reflect such depreciation relating to that 
   quarter.

7) Figures for the previous period have been restated / reclassified wherever necessary to conform to the current 
   period's presentation.


8) There were no investor complaints outstanding at the beginning of the quarter. During the quarter, twenty six
   complaints were received and twenty five complaints were resolved. One complaint was pending as at the end of the 
   quarter.




                                                                        (  Sumit Banerjee )


                                                                          MANAGING DIRECTOR
   Mumbai -  April 24, 2008















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