UltraTech Cement’s major products/revenue segments include Portland/Posolana Cement, Cement Grey, Other Operating Revenue, Scrap, Lease Rentals, Sales of Services for the year ending 31-Mar-2024.
Financial
For the quarter ended 30-09-2024, the company reported Rs. 15855.46 crores reported a consolidated total revenue of Rs. 18235.30 crores down by -13.05% and total revenue for the same quarter last year at Rs. 16179.26 crores. The company reported a net profit after tax of Rs 826.62 crore in the latest quarter.
Investment rationale
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Ultratech’s operating performance was weak due to low demand and low prices. However, industrial growth is expected to pick up due to the government’s emphasis on infrastructure development and urbanization. The company, with its strategic acquisition and capacity expansion plans, is poised to capitalize on these emerging opportunities. Hence, Geojit maintains our rating on the stock to BUY based on 20x FY26E EV/EBITDA at Rs. Upgraded with a revised target price of 12,320.
Promoter/FII Holdings
Promoters held 59.99 per cent stake in the company as on 30-Sep-2024, while FIIs held 17.95 per cent, DIIs 13.97 per cent.
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