UltraTech Cement’s stock price surged over 2% on Tuesday following the release of its Q4 results by the Aditya Birla Group’s flagship cement maker. The shares of UltraTech Cement climbed as high as 2.38% to Rs 10,200 per share on the BSE.
The nation’s leading cement manufacturer posted impressive earnings for the January-March quarter, with its consolidated net profit soaring by 36% to Rs 2,258 crore from Rs 1,666 crore year-on-year (YoY), surpassing market expectations. This growth was driven by a reduction in fuel costs and double-digit volume growth.
Consolidated revenue from operations in Q4FY24 witnessed a robust 9.4% YoY increase to Rs 20,419 crore. Operating at an impressive level, UltraTech Cement achieved an EBITDA of Rs 4,250 crore, with a margin of 20.81%.
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In a statement, UltraTech Cement highlighted that its imported fuel consumption cost during Q4FY24 was 13% lower than Q4FY23, remaining flat quarter-on-quarter. The company also reported effective capacity utilization rates of 98% during the quarter and 85% for the full fiscal year.
Brokerages on UltraTech Cement
Emkay Global on UltraTech Cement
Maintaining a bullish stance, Emkay Global continues to advocate for UltraTech Cement, affirming its ‘Buy’ rating on the stock. The brokerage has upheld an unchanged target price of Rs 11,200 per share, emphasizing confidence in the company’s future trajectory.
Emkay Global Financial Services has revised its estimates for UltraTech Cement’s earnings, reflecting a nuanced outlook for the company’s performance. With a 4% reduction in FY25 EBITDA estimates, Emkay cites factors such as lower realization in their assessment. However, a 3% increase in FY26E EBITDA projections follows the integration of Kesoram financials into their analysis.
In a comprehensive review of UltraTech Cement’s recent performance, Emkay Global highlights notable achievements in Q4FY24. The cement giant surpassed expectations, reporting a substantial 24% year-on-year increase and a robust 26% quarter-on-quarter surge in consolidated EBITDA.
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Furthermore, UltraTech Cement’s strategic vision for future growth remains ambitious and promising. The company has reiterated its commitment to achieving approximately 184 million tonnes of domestic grey-cement capacity by FY27E, excluding Kesoram Industries. Emkay Global anticipates that this expansion will position UltraTech Cement as a frontrunner in the industry, poised for substantial volume growth in the years ahead.
UltraTech Cement share performance in last one year
In terms of stock performance, UltraTech Cement shares have demonstrated mixed returns across multiple time frames. Over the past month, the stock has given a commendable 2.% return, showcasing its stability and growth potential. The last six months have seen even more impressive results, with a substantial increase of 19.73%, indicating a strong upward trend.
Year-to-date, UltraTech Cement shares have plunged by 4.43%, but looking at the broader picture, the stock has delivered an impressive return of over 35% in the last twelve months, emphasizing its sustained growth and attractiveness to investors.
(Disclaimer: Views, recommendations, opinion expressed are personal and do not reflect the official position or policy of Financial Express Online. Readers are advised to consult qualified financial advisors before making any investment decisions. Reproducing this content without permission is prohibited.)
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