A Case Study On ACC Limited In India Finance Essay

ACC Limited is India ‘s first cement maker with a nationwide web of mills and selling offices. Established in 1936, ACC has been a innovator and taste-maker in cement and concrete engineering. Among the first companies in India to include committedness to environment protection as a corporate aim, ACC has won awards for environment friendly measures taken at its workss and mines, and has besides been felicitated for its Acts of the Apostless of good corporate citizenship.

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Merchandises:

ACC ‘s trade name name is synonymous with cement and enjoys a high degree of equity in the Indian market. Our scope of cements and blended cements is marketed through a web of 19 Gross saless Unit of measurements, 54 Area Offices, and 194 warehouses. This is backed by a nationwide web of over 9,000 trader who, in bend, are assisted by their sub-dealers.

ACC ‘s selling, gross revenues and distribution procedures are industry criterions. Although they take huge pride in holding supplied some of India ‘s most admired undertakings, ACC is basically a people ‘s trade name of cement with more than 80 % of gross revenues made through an extended trader web that covers every province in India. Its client base represents the multitudes of India- single home-builders in little towns, rural and semi-urban India. ACC Cement enjoys an image of guaranting consistence and of high quality backed by in-house research and expertness.

Complementing this is a alone client services cell consisting qualified civil applied scientists, who assist and advise clients with anterior and post gross revenues service. This service begins with choice of type and class of cement ( where applicable ) to trouble-shooting and on-site aid.

ACC manufactures the assorted sorts of Portland Cement for general building and particular applications. In add-on to this, ACC offers two value added merchandises viz. , Bulk Cement and Ready Mix Concrete.

Milestones:

1936

Incorporation of The Associated Cement Companies Limited on August 1, 1936.

1936

First Board Meeting of The Associated Cement Companies Limited held at Esplanade House, Mumbai on November 10, 1936.

1937

With the transportation of the tenth company to ACC, viz. Dewarkhand Cement Company, the formation of ACC is complete on October 23, 1937.

1944

ACC ‘s first community development venture near Bombay

1947

India ‘s first wholly autochthonal cement works established at Chaibasa in Bihar

1952

Village Welfare Scheme launched

1955

Sindri cement plants used the waste merchandise Ca carbonate sludge from fertiliser mill at Sindri.

1956

Bulk Cement Depot established at Okhla, Delhi

1957

Technical preparation institute established at Kymore, Madhya Pradesh.

1957

Katni Furnace linings

1961

Blast furnace scoria from TISCO used at the Chaibasa Unit to fabricate Portland Slag Cement for the first clip in India.

1961

Industry of Accocid Cement, which resists the caustic action of acids and chemicals.

1961

Oilwell Cement manufactured at ACC Shahabad Cement Works in Karnataka for cementation of oilwells upto a deepness of 6,000 pess.

1961

Industry of Hydrophobic ( waterproof ) cement at ACC Khalari Cement Works in Bihar.

1962

Industry of Accoproof, a waterproofing additive.

1965

ACC ‘s Central Research Station ( CRS ) established at Thane

1965

Industry of Portland Pozzolana Cement.

1965

Industry of Calundum, a High Alumina Binder ; Firecrete, Low Density Alumina Castables and High Alumina Refractory Cement.

1968

Advent of computing machines in ACC for informations processing and planing direction information and control systems.

1968

ACC supplied and commissioned one-million-tonne Fe ore pelletising works ordered by TISCO

1971

Industry of Whytheat Castables A, K, C and Cal-Al-75

1973

Take-over of The Cement Marketing Company of India ( CMI )

1977

ACC receives ASSOCHAM first national award for the twelvemonth 1976 instituted for outstanding public presentation in advancing rural and agricultural development activities.

1978

Introduction of the energy efficient precalcinator engineering for the first clip in India. Full scale commercial production based on MFC engineering at Wadi in 1979.

1979

ACC wins international contract for operation and direction of a new one million metric ton cement works at Yanbu-Ras Biridi in Saudi Arabia.

1982

Commission of the first 1 MTPA works in the state at Wadi, Karnataka.

1984

ACC achieves a discovery in import permutation by developing and providing a particular G type of oil well cement to ONGC.

1987

ACC develops a new binder for usage at sub-zero temperatures, which is successfully used in the Indian expedition to Antarctica.

1992

Incorporation of Bulk Cement Corporation of India, a joint venture with the Government of India.

1993

ACC starts the commercial industry of Ready Mixed Concrete at Mumbai.

1995

ACC selected as Most Respected Company in India by Business India.

1998

Commission of the 0.6 MTPA cement crunching unit at Tikaria, Uttar Pradesh.

1999

Commission of confined power workss at the Jamul and Kymore workss in Madhya Pradesh.

1999

Tata group sells 7.2 % of its interest in ACC to Ambuja Cement Holdings Ltd, a subordinate of Gujarat Ambuja Cements Ltd. ( GACL )

2000

Tata Group sells their staying interest in ACC to the GACL group, who with 14.45 % now emerge as the individual largest stockholder of ACC.

2001

Commission of the new works of 2.6 MTPA capacity at Wadi, Karnataka works, the largest in the state, and among the largest sized kilns in the universe.

2002

ACC wins PHDCCI Good Corporate Citizen Award

2003

IDCOL Cement Ltd becomes a subordinate of ACC

2004

IDCOL Cement Limited is renamed as Bargarh Cement Limited ( BCL ) .

2004

ACC raises US $ 100 million abroad through Foreign Currency Convertible Bonds ( FCCB ‘s ) for US $ 60 million and Global Depository Shares ( GDS ‘s ) for US $ 40 million. Both offerings are listed on the London Stock Exchange.

2004

ACC named as a Consumer Superbrand by the Superbrands Council of India, going the lone cement company to acquire this position.

2004

GreenTech Safety Gold and Silver Awards awarded to Madukkarai Cement Works and Katni Refractory Works by Greentech Foundation for outstanding public presentation in Safety Management System.

2005

ACC receives the CFBP Jamnalal Bajaj Uchit Vyavahar Puraskar Certificate of Merit – 2004 from Council For Fair Business Practices.

2005

Holcim group of Switzerland enters strategic confederation with Ambuja Group by geting a bulk interest in Ambuja Cements India Ltd. ( ACIL ) which at the clip held 13.8 % of the entire equity portions in ACC. Holcim at the same time makes an unfastened offer to ACC stockholders, through Holdcem Cement Pvt. Limited and ACIL, to get a bulk shareholding in ACC. Pursuant to the unfastened offer, ACIL ‘s shareholding in ACC additions to 34.69 % of the Equity portion capital of ACC.

2005

Commission of Modernisation and Expansion undertaking at Chaibasa in Jharkhand, replacing old wet procedure engineering with a new 1.2 MTPA clinkering unit, together with a confined power works of 15 MW.

2005

Financial accounting twelvemonth of the company changed to calendar twelvemonth January-December

2006

Auxiliary companies Damodhar Cement & A ; Slag Limited, Bargarh Cement Limited and Tarmac ( India ) Limited merged with ACC

2006

ACC announces new Workplace policy for HIV/AIDS

2006

Change of name to ACC Limited with consequence from September 1, 2006 from The Associated Cement Companies Limited.

2006

ACC receives Good Corporate Citizen Award 2005-06 from Bombay Chamber of Commerce and Industry

2006

New corporate trade name individuality and logo adopted from October 15, 2006

2006

ACC establishes Anti Retroviral Treatment Centre for HIV/AIDS patients at Wadi in Karnataka- the first of all time such undertaking by a private sector company in India.

2007

ACC spouses with Christian Medical College for intervention of HIV/AIDS in Tamil Nadu

2007

Sumant Moolgaokar Technical Institute completes 50 old ages and reopens with new course of study

2008

Ready assorted concrete concern hived off to a new subordinate called ACC Concrete Limited.

2008

ACC Cement Technology Institute officially inaugurated at Jamul on July 7.

2008

First Sustainable Development Report released on June 5.

2008

ACC wins CNBC-TV18 India Business Leader Award in the class India Corporate Citizen of the twelvemonth 2008

2008

Undertaking Orchid launched to transform our Corporate Office, Cement House into a green edifice.

2009

ACC received the Jamanalal Bajaj “ Uchit Vyavahar Puraskar ” of Council for Fair Business Practices

2009

ACC is allotted coal blocks in Madhya Pradesh and West Bengal.

2009

ACC ‘s new Grinding works of capacity 1.60 million metric tons inaugurated at Thondebhavi in Karnataka.

2010

Kudithini Cement Grinding Plant inaugurated in Karnataka on January 4, 2010 with a capacity of 1.1 MTPA of Portland Slag Cement.

2010

ACC acquires 100 per centum of the fiscal equity of Encore Cements & A ; Additives Private Limited which is a scoria grinding works in Vishakhapatnam in coastal Andhra Pradesh. This company became a wholly-owned subordinate of ACC in January 2010.

Gross saless Volume and Growth:

Net Gross saless, Operating EBITDA & A ; Operating EBITDA Margin:

Net incomes Before Tax and Profits After Tax:

Net worth and Return on Net Worth

Highlights of Performance/Events ( 2009 )

Entire Consolidated Income for the twelvemonth 2009 was Rs. 8275 crore, an addition of 9 % as compared to Rs.7974 crore in 2008.

Amalgamate Net income before exceeding points and revenue enhancement for the twelvemonth 2009 was Rs. 2251 Crore against Rs. 1582 crore in the twelvemonth 2008.

Amalgamate Net income after Tax for the twelvemonth 2009 was Rs. 1564 crore as against Rs. 1100 crore in 2008, an addition of 42 % .

The enlargement undertaking of the Bargarh Plant was well completed during the twelvemonth. The Satellite crunching units which were set up as a portion of Wadi enlargement programme at Thondebhavi in Chikballapur territory and Kudithini in Bellary territory in Karnataka were besides partially commissioned during the last one-fourth of 2009.

There were significant advancement during the twelvemonth under reappraisal in the Company ‘s ongoing undertakings at Wadi and Chanda, which are slated for completion in the first half of 2010.

Work was started on a undertaking to put up a 2.5 MW air current energy farm in Maharashtra.

Fiscal Consequences

Capital Market and Fund Raising:

ACC Limited which is a portion of the Cement and Cement Products sector has a weightage of 0.64 % in the Nifty50 as per the National Stock Exchange.

Fiscal Consequences

Amalgamate

Stand Alone

All in Crores INR

2009

2008

2009

2008

Sale of merchandises and services ( cyberspace of excise responsibility ) and other income

8725.41

7974.28

8268.31

7571.58

Net income after exceeding points and before revenue enhancement

2250.70

1624.82

2294.39

1736.60

Provision for revenue enhancement

( 686.79 )

( 525.17 )

( 687.66 )

( 523.81 )

Net income after revenue enhancement

1563.91

1099.65

1606.73

1212.79

Balance brought frontward from last twelvemonth

2357.25

2057.37

2477.91

2064.89

Net income available for appropriations

3921.16

3157.02

4084.64

3277.68

Appropriations

Interim Dividend

187.70

187.65

187.70

187.65

Proposed Dividend

244.06

187.68

244.06

187.68

Dividend Distribution Tax

73.38

63.79

73.38

63.79

General Reserve

350

350

350

350

Unsecured bond Redemption Reserve

25

10

25

10

Previous Year Dividend

0.02

0.02

Amortization Militias

0.65

0.63

0.65

0.63

Balance Carried forward to the following twelvemonth ‘s history

3040.37

2357.25

3203.85

2477.91

Dividend

In August 2009, the Company had paid an interim dividend or Rs. 10 Crore per equity portion, affecting an spending ( Including the dividend distribution revenue enhancement ) of Rs.219.60 crore. The managers are now pleased to urge a concluding dividend of Rs. 13 per equity portion of Rs.10 each. The entire dividend for the twelvemonth 2009 would consequently be Rs.23 per equity portion as against Rs.20 per equity portion for the twelvemonth ended December 31, 2008.

The entire dividend spending for the current financial would amount to Rs. 505.14 crore, including dividend distribution revenue enhancement of Rs. 73.38 crore, as against Rs. 439.12 crore, including dividend revenue enhancement of Rs.63.79 in the old twelvemonth.

Economic scenario and Outlook

After the planetary fiscal lag witnessed in 2008, climaxing in the expensive bailout for Bankss and insurance companies notably in USA, there has been a perceptible betterment in the mentality for the planetary economic system. The enlargement of end product in emerging market economic systems, peculiarly Asia, was the chief driver of this development. Trade is retrieving and fiscal market conditions are bettering. Notwithstanding the assurance exuded by the fiscal sector, there are concerns that the recovery may as yet be delicate, as the economic systems of developed states, peculiarly USA, continues to dawdle with high unemployment, low consumer disbursement and down lodging markets.

The Indian economic system fared better than most developed economic systems, although its growing was a spot hushed. The public presentation of the industrial sector has markedly improved. Funding restraints eased with ample liquidness and a benign involvement government prevailed during a major portion of the twelvemonth. Capital influxs revived as India became a preferable finish for both portfolio and direct investing. The state is now exhibiting marks of revival despite contraction in exports and a subnormal monsoon in 2009. Government expects the GDP growing to be about 7 % in the fiscal twelvemonth 2009-2010 which is an betterment over the prognosis of 6-6.5 % growing made in the beginning of the financial twelvemonth.

However, there are still countries that cause concern. Agricultural end product may worsen as a consequence of the weak monsoon and inflationary force per unit areas, peculiarly of nutrient monetary values, could halter growing chances in 2010. Bank recognition growing continues to be sulky. Government financial shortage is expected to make record degrees. However, the overall economic mentality is by and large favourable, though assorted, with some concern of an intensifying inflationary force per unit area.

Acquisitions

With a position to heighten its limestone militias in Rajasthan, ACC Limited acquired a 100 % equity interest in National Limestone Company private limited ( NLCPL ) doing it a entirely owned subordinate of the Company. NLCPL has limestone rentals and militias in Sikar territory in Rajasthan.

The Company besides acquired 100 % equity interest in Encore Cements and Additives Private limited ( ECAPL ) . Consequently, ECAPL has become a entirely owned subordinate of ACC limited with consequence from Jan 28th, 2010. ECAPL has a scoria crunching unit in Vishakapatinam which will assist ACC beef up its market presence in Coastal Andhra Pradesh.

ACC limited besides entered into an understanding with the boosters of Asian concrete & A ; Cement private limited. Asiatic Cement to get a 45 % equity portion in that company. This dealing was completed in the first one-fourth of 2010. Asiatic Cement has a 0.3 million metric ton cement crunching works in the Solan territory of Himachal Pradesh and is in the procedure of puting up an extra 1 million metric ton crunching installation adjacent to the bing works.

Finance

The Company retained its “ AAA ” evaluation by CRISIL for its long term non exchangeable unsecured bond and bank loan for working capital. In October 2009, the company borrowed Rs. 300 crore through non exchangeable unsecured bonds holding a five-year adulthood at an all inclusive cost of 8.45 % per annum.

As on 31st December 2009, the company ‘s debit equity ratio stood at a comfy degree of 0.9:1

Share Capital

During the twelvemonth, ACC limited allotted 58,473 equity portions of the face value of Rs.10 each, consequent to the exercise of Stock options by its employees. EBITDA losingss of this concern were well reduced by 65 % from Rs.74 crore to Rs. 26 crore, through systematic direction of operating expense costs and productiveness.

ACC concrete limited is good placed to turn and add value to the group, traveling frontward as the market regains momentum as a consequence of Government ‘s substructure programme and renewed assurance in the existent estate sector.

ACC Share Price vis a vis BSE Sensex January – December 2009

Calendar month

BSE Sensex Close

ACC Share Price ( on BSE ) In R.

No. of portions traded during the month ( on BSE )

Employee turnover ( Rs.crore ) on BSE

A

A

High

Low

Near

A

A

Jan’09

9424.24

567.1

469.1

504.85

2,595,872

130.83

Feb’09

8891.61

584.7

486

539.8

3,650,496

198.78

Mar’09

9708.5

604.9

510.1

576.65

3,640,107

201.38

Apr’09

11403.25

689.9

561

653

2,899,562

181.31

May’09

14625.25

804

570

783

3,103,417

211.58

June’09

14493.84

907

709

768.9

3,107,911

253.06

Jul’09

15670.31

889.9

720

881.3

3,634,220

295.42

Aug’09

15666.64

928

750

808.7

3,846,941

319

Sep’09

17126.84

855.2

759

819.3

2,575,004

207.55

Oct’09

15896.28

841.8

726.25

747.65

1,751,198

136.94

Nov’09

16926.22

816.75

686.2

796.6

2,128,182

160.67

Dec’09

17464.81

883.5

790.55

871.5

2,186,225

183.67

ACC Share Price on NSE vis a vis S & A ; P CNX Nifty January – December 2009

Calendar month

S & A ; P CNX Nifty Close

ACC Share Price ( on BSE ) In R.

No. of portions traded during the month ( on BSE )

Employee turnover ( Rs.crore ) on BSE

A

A

High

Low

Near

A

A

Jan’09

2874.8

559.9

450.2

506.4

9,245,966

464.3

Feb’09

2763.65

589

486.6

540.05

11,905,263

648.25

Mar’09

3020.95

605

511.05

574.4

14,931,598

823.09

Apr’09

3473.95

690

561.25

654.35

12,329,812

767.43

May’09

4448.95

804.85

568.6

782.5

15,357,150

1041.91

June’09

4291.1

903.6

708

765.75

14,707,841

1190.48

Jul’09

4636.45

888

715.1

880.8

14,509,074

1177.08

Aug’09

4662.1

928.8

752

807

14,676,072

1211.93

Sep’09

5083.95

855

756.65

820.25

10,870,040

875.11

Oct’09

4711.7

842.5

726.05

750.65

8,323,126

651.11

Nov’09

5032.7

817

680.5

797.65

9,979,858

752.21

Dec’09

5201.05

883.9

792.3

872.45

9,502,122

799.56

Share transportation system

Share transportations

The portion transportations in physical signifier are soon processed and the portion certifications

are by and large returned within a period of 15 yearss from the day of the month of reception.

Nomination installation for shareholding

As per the commissariats of the Companies Act, 1956, installation for doing nomination is

available for stockholders in regard of portions held by them. Those stockholders who

hold portions in physical signifier may obtain nomination signifiers from the Share Department

of the Company.

Payment of dividend through Electronic Clearing Service

The Securities and Exchange Board of India ( SEBI ) has made it compulsory for all

companies to utilize the bank history inside informations furnished by the depositaries for lodging

dividends. As per the recent RBI guidelines, effectual from September 30, 2009, ECS

recognition will be moved wholly on National Electronic Clearance System ( NECS )

platform through nucleus banking system. Consequently, dividend will be credited to the

stockholders ‘ bank history through NECS where complete nucleus banking inside informations are

available with the Company. In the event any subdivision of a bank has non migrated to

nucleus banking system, or where the nucleus banking history figure is non furnished by

the stockholder to the Depository/Company as the instance may be, the Company will

print the inside informations available in its records on the dividend warrants to be issued to the

stockholders. The Company is following with SEBI ‘s directive in this respect.

Unclaimed Dividends

The Company is required to reassign dividends which have remained unpaid /unclaimed

for a period of seven old ages to the Investor Education & A ; Protection Fund established by

the Government. The Company will consequently be required to reassign in August

2010, the dividend for the twelvemonth ended March 31, 2003 which have remained unclaimed

/ Unpaid.

As in the yesteryear, the Company will direct hint to stockholders whose dividend

warrants have non been encashed. Stockholders are requested to return to the Company

if they have non received / encashed their dividend warrants.

Subdivision of portions

The Company had subdivided the face value of its portions from Rs. 100 each to Rs. 10

each in 1999. The old portions holding face value of Rs. 100 are no longer tradable in the

Stock Exchanges. Despite reminders, many stockholders are yet to interchange their old

portion certifications of face value Rs. 100 with the new portion certifications holding face

value of Rs. 10. Stockholders keeping portion certifications of the face value of Rs. 100

each are requested to direct the certifications to the portion section of the Company

for exchange.

Pending Investors ‘ Grudges

Any stockholder, whose grudge has non been resolved satisfactorily, may kindly

write to the Company Secretary at the Registered Office with a transcript of the earlier

correspondence.

Dematerialisation of portions and Liquidity

Equity Shares of the Company dematerialized as on December 31, 2009 is 94.13 %

The Company has entered into understandings with both National Securities Depository

Limited ( NSDL ) and Central Depository Services ( India ) Limited ( CDSL ) whereby stockholders have an option to dematerialise their portions with either of the depositaries.

Global Depository Receipts ( GDRs ) or any Convertible instruments, Conversion Dates and likely impact on Equity

64, 62,000 Global Depository Receipts ( GDRs ) were issued in March / April 2004 at a

portion monetary value of U.S. $ 6.19 ( tantamount to Rs. 280.05 ) per GDR at approximately 1 % premium on

shutting portion monetary value of Rs. 277.35 on March 8, 2004 on the Bombay Stock Exchange

Limited ( BSE ) stand foring 64, 62,000 Equity Shares. The Company has terminated the

Depository Agreement with consequence from October 15, 2008 and the GDRs have been

delisted from the London Stock Exchange. The GDR holders were given clip to

give up their GDR ‘s in exchange for Equity Shares up to April 15, 2009. Citibank

who were the depositary for the GDRs have late sold the implicit in portions and the GDR ‘s base extinguished.

The Company has made high net incomes and holds high per centum of portion in the market.

Awards & A ; Awards:

ACC was the first receiver of ASSOCHAM ‘s first of all time National Award for outstanding public presentation in advancing rural and agricultural development activities in 1976. Decades subsequently, PHD Chamber of Commerce and Industry selected ACC as victor of its Good Corporate Citizen Award for the twelvemonth 2002. Over the old ages, there have been many awards and congratulations for accomplishments in Rural and community development, Safety, Health, Tree plantation, afforestation, clean excavation, Environment consciousness and protection.

Awards received in 2010

9th Annual Greentech Safety Platinum Award to ACC Tikaria, Gold Award to ACC Jamul and Sindri ; Silver Award 2010 to ACC Lakheri, Madukkarai and Wadi Expansion Project

Institute of Cost and Works Accountants of India ( ICWAI ) Good Performance Award by Institute of Cost and Works Accountants of India

Institute of Chartered Accountants of India ( ICAI ) award for Excellence in Financial Reporting for Annual Report 2008

Fiscal Express-Emergent Ventures India ( EVI ) Green Business Leadership award

9th Greentech Safety Gold Award in cement sector to ACC Jamul

Awards received in 2009

Indian Merchants ‘ Chamber Ramkrishna Bajaj National Quality Trophy – 2009 to ACC Gagal

Indian Merchants ‘ Chamber Ramkrishna Bajaj National Quality Commendation Certificate 2009 to ACC Sindri

8th Greentech Safety Award 2009 in Gold class in cement sector to ACC Tikaria

8th Greentech Safety Gold Award in cement sector Jamul

10th Greentech Environment Excellence award – Gold class – cement sector to Tikaria

Srishthi Good Green Governance Award by Srishthi Publications, Delhi to ACC Madukkarai

International Safety Award 2008 by British Safety Council to ACC Gagal Sindri and Tikaria

State Safety Award for 2007 from Government of Orissa to ACC Bargarh

Federation of Indian Mineral Industries ( FIMI ) National Environment Award to ACC Wadi Limestone Mines

Safety Innovation Award by Institution of Engineers to ACC Wadi ( Expansion Project )

Energy Conservation Award by Rajasthan Renewable Energy Corporation to Lakheri

National Award for Excellence in Water Management from Confederation of Indian Industry ( CII ) to ACC Wadi

Other outstanding awards won by us over the old ages comprise some desired 1s conferred by administrations of reputation.

Indira Priyadarshini Vrikshamitra Award — – by The Ministry of Environment and Forests for “ extraordinary work ” carried out in the country of afforestation.

FICCI Award — – for advanced steps for control of pollution, waste direction & A ; preservation of mineral resources in mines and works.

Subh Karan Sarawagi Environment Award – by The Federation of Indian Mineral Industries for environment protection steps.

Drona Trophy – By Indian Bureau Of Mines for excess ordinary attempts in protection of Environment and mineral preservation in the big mechanised mines sector.

Indira Gandhi Memorial National Award – for first-class public presentation in bar of pollution and ecological development

Excellence in Management of Health, Safety and Environment: Certificate of Merit by Indian Chemical Manufacturers Association

Good Corporate Citizen Award – by PHD Chamber of Commerce and Industry

FIMI National Award – for valuable part in Mining activities from the Federation of Indian Mineral Industry under the Ministry of Coal.

Rajya Sthariya Paryavaran Puraskar – for outstanding work in Environmental Protection and Environment Performance by the Madhya Pradesh Pollution. Control Board.

National Award for Fly Ash Utilisation – by Ministry of Power, Ministry of Environment & A ; Forests and Dept of Science & A ; Technology, Govt of India – for industry of Portland Pozzolana Cement.

ACC in the intelligence

hypertext transfer protocol: //www.acclimited.com/newsite/news.asp

Fiscal Results for the twelvemonth 2009:

Resources

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hypertext transfer protocol: //in.reuters.com/finance/stocks/option? symbol=ACC.BO

hypertext transfer protocol: //www.indiainfoline.com/

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