UltraTech reported a healthy set of numbers for Q1FY20, ahead of consensus estimates on operating fronts. The company has reported a consolidated revenue growth of 14.4% yoy to Rs10,177.6cr, broadly in-line with estimates. Power and freight costs were down as percent of net sales by 251bps and 423bps respectively. It was partially offset by higher raw material costs. Thus, EBITDA reported growth of 60.2% yoy to Rs2,708.3cr; ~18% ahead of estimates. EBITDA margin expanded by 762bps yoy to 26.6%. Company reported a 91.4% yoy growth in PAT to Rs1,208.0cr, ~16% ahead of estimates.
The company reported muted domestic volume growth of 2.6% yoy to 17.3MT. Derived realisation was up 11.9% yoy to Rs5,699/tn.
EBITDA/tn for the quarter stood at Rs1,516/tn vs. Rs967/tn in Q1FY19.
Industry capacity utilization declined during the quarter to ~ 67% against 74% in Q1FY19.
UltraTech Cement Ltd is currently trading at Rs. 4,214.90, down by 128.55 points or 2.96% from its previous closing of Rs. 4,343.45 on the BSE.
The scrip opened at Rs. 4,365 and has touched a high and low of Rs. 4,403.15 and Rs. 4,132 respectively. So far 11,58,827 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50 DMA.
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