ACC Limited is one of India’s oldest and most respected cement manufacturers, with a legacy dating back to 1936. As a subsidiary of the global building materials giant Holcim (now part of the Adani Group since 2022), ACC benefits from strong operational efficiency, a wide distribution network, and a focus on sustainability and innovation in construction materials. The company has maintained a nearly debt-free balance sheet, consistent profitability, and steady market share in the competitive North and West Indian cement markets. This article provides a fact-based outlook on its share price target for each year from 2026 through 2030.
ACC Limited: Company Overview
- Incorporated: 1936; listed on Indian stock exchanges since 1957
- Core Business: Manufacturing and sale of Portland Pozzolana Cement (PPC), Ordinary Portland Cement (OPC), and specialty cements under premium brands like ACC Gold, ACC Suraksha, and F2R Superfast
- Key Markets: Western and Northern India, with presence in over 18 states
- Manufacturing:
- 14 integrated cement plants
- 15 grinding units
- Total capacity: ~40 million tonnes per annum
- Ownership: 56.69% held by promoters, primarily Adani Group (via acquisition of Holcim’s stake in 2022)
- Sustainability Focus: Leader in alternative fuel use, carbon reduction, and green building solutions
ACC Limited: Key Financial Snapshot
| Metric | Value |
|---|---|
| Market Capitalization | ₹29,903.24 Cr |
| Current Share Price | ₹1,592 (as of Feb 2026) |
| P/E (TTM) | 10.78 |
| P/B (TTM) | 1.48 |
| Book Value (TTM) | ₹1,075.30 |
| EPS (TTM) | ₹147.69 |
| ROE | 14.14% |
| ROCE | 18.97% |
| Dividend Yield | 0.47% |
| Sales Growth (TTM) | 8.60% |
| Profit Growth (TTM) | 14.14% |
| Cash Reserves | ₹1,516.52 Cr |
| Debt | ₹0 Cr (Debt-Free) |
| Face Value | ₹10 |
Note: ACC delivers steady, low-volatility growth with strong cash flow generation. Its P/E of 10.8x is among the lowest in the large-cap cement sector, reflecting conservative valuation.
ACC Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹1,700 – ₹1,900 |
| 2027 | ₹1,850 – ₹2,100 |
| 2028 | ₹2,000 – ₹2,350 |
| 2029 | ₹2,150 – ₹2,600 |
| 2030 | ₹2,300 – ₹2,900 |
Targets assume continued infrastructure demand, pricing power in core regions, and stable input costs.
ACC Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹1,700 | ₹1,900 |
- Low P/E (10.8x) offers a margin of safety
- Government infrastructure push (roads, housing, railways) supports volume growth
- Risk: Cement prices are volatile; any sharp fall in realizations could pressure margins
ACC Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹1,850 | ₹2,100 |
- Expected benefit from Adani Group synergies in logistics and procurement
- Potential inclusion in ESG-focused funds due to sustainability initiatives
- Dividend consistency (0.47% yield, ~5% payout) adds minor support
ACC Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹2,000 | ₹2,350 |
- By 2028, the cumulative effect of capacity optimization and cost discipline should reflect in margins
- Valuation may re-rate if ROCE sustains above 18% in a rising rate environment
- Execution risk: Competition from ultra-low-cost players in Eastern India
ACC Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹2,150 | ₹2,600 |
- Long-term tailwinds from PM Awas Yojana, Bharatmala, and urban housing demand
- Debt-free status allows strategic capex without balance sheet strain
- Institutional ownership (DII + FII = 27.5%) provides stability
ACC Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹2,300 | ₹2,900 |
- If ACC maintains 14%+ ROE and expands in ready-mix/concrete solutions, ₹2,800+ is achievable
- However, targets beyond ₹3,000 require industry-wide consolidation—not currently visible
- Brand strength and distribution remain key differentiators
ACC Limited: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Promoters (Adani Group) | 56.69% |
| Domestic Institutions (DII) | 21.53% |
| Public (Retail) | 15.78% |
| Foreign Institutions (FII) | 5.99% |
| Others | 0% |
Promoter holding has been stable post-Adani acquisition, with no pledging reported.
ACC Limited: Strengths vs Risks
Strengths
- Zero debt with ₹1,516 Cr cash reserves
- Consistent ROCE (18.97%) in a cyclical sector
- Strong brand equity and premium product mix
- Backed by Adani Group—strategic and logistical advantages
Risks
- Low dividend yield (0.47%) offers a minimal income cushion
- Commodity nature of cement—prices subject to supply-demand swings
- Regional concentration—limited presence in high-growth Southern markets
- Environmental regulations could increase compliance costs
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | Low to Moderate |
| Time Horizon | Long-term (5+ years) |
| Volatility | Low |
| Dividend/Income | Very low (0.47% yield) |
| Ideal Investor | Conservative investor seeking stable, low-debt exposure to India’s infrastructure story |
FAQs
A: A realistic range is ₹1,700 to ₹1,900, based on current valuation and sector tailwinds.
A: Credible estimates suggest ₹2,300 to ₹2,900 by 2030, assuming sustained ROCE and infrastructure demand.
A: Reliable forecasts beyond 2030 are not possible. Such long-term projections are speculative and not based on verifiable data.
A: The Adani Group controls ACC through promoters holding 56.69% of shares (acquired from Holcim in 2022).
A: Yes. It has a consistent dividend history with a current yield of 0.47% and a modest payout ratio (~5%).
A: The stock corrected due to broader cement sector weakness, coal price volatility, and profit-booking after strong rallies in 2024–2025.
A: Yes. ACC carries zero debt, making it one of the strongest balance sheets in the Indian cement industry.
Final Verdict
ACC Limited is a high-quality, debt-free cement company with strong operational metrics and backing from the Adani Group. While it doesn’t offer explosive growth, it provides steady, low-risk exposure to India’s long-term infrastructure and housing needs. Our 2026–2030 price targets (₹1,700–₹2,900) reflect gradual compounding—not hype. Best suited for conservative investors seeking stability in a cyclical sector.
Disclaimer: This article is for educational purposes only. It is not investment advice. Please consult a SEBI-registered advisor before making any investment decision.
Sources
- Screener.in – ACC Ltd (Consolidated Financials)
- Finology.in – Company Essentials
- BSE India – Shareholding Pattern (Q3 FY2026)
- ACC Annual Report FY2025
- Investor Presentation – Q2 FY2026 Results
