Q1FY24 Preview: Ultratech Cement: Revenue seen at Rs. 169,782 million, EBITDA at Rs. 29,756 million

18 Jul 2023 , 11:26 AM

Result date: 21^st July, 2023

Recommendation: Buy

Target price: Rs. 8,800

Strong capacity expansion and robust overall demand could aid performance of Ultratech Cement during the quarter. 

The company’s volumes grew 20% over the year-ago quarter, while its realization per ton could decline 3.8%. Consequently, revenue could grow 15.4% as compared to the year-ago quarter.

The company’s EBITDA could grow 1.6% over the year-ago quarter, while EBITDA per ton could decline 15.3%.

Important management insights to watch out for:

• Demand trends across product segments and markets
• Pricing action and outlook on input costs, margins

	June 2023 estimates	YoY change	QoQ change
Volumes (m MT)	29.0	19.9%	(4.9)%
Realization (Rs./t)	5,853	(3.8)%	(1.5)%
Revenue (Rs. mn)	169,782	15.4%	(6.3)%
EBITDA/t	1,026	(15.3)%	(0.4)%
EBITDA (Rs. mn)	29,756	1.6%	(5.3)%

Source: IIFL Research