Q2FY24 Preview: Ultratech Cement: Revenue seen at Rs. 153,293 million, PAT at Rs. 11,544 million

17 Oct 2023 , 11:32 AM

Result date: October 19, 2023

Recommendation: Buy

Target price: Rs. 8,900

Ultratech Cement reported 15.4% growth in sales volumes as compared to the year-ago quarter. Strong capacity expansion and overall robust demand fueled this growth for the company. Blended EBITDA/t could improve 14% to Rs. 879. Analysts at IIFL Capital Services expect the company’s revenue to grow 14% as compared to the year-ago quarter.

Profit After Tax (PAT) could grow 61.2% over the year-ago quarter.

Important management insights to watch out for:

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

	September 2023 estimates	YoY change
Volumes (mn MT)	25.7	15.4%
Revenue (Rs. mn)	153,293	13.7%
EBITDA/t	22,565	31.5%
PAT (Rs. mn)	11,544	61.2%

Source: IIFL Research