UltraTech Cement Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for ULTRACEMCO, BSE:532538 UltraTech Cement Ltd.

UltraTech Cement Ltd.

27 Jan 2020

12376.00

1.27%

UltraTech Cement

UltraTech Cement Ltd.

SMC online

crore. After accounting gain of Rs 0.10 crore in Share in Profit of Associates and NIL in Minority interest, the Net Profit, as a result, grew by 81% to Rs 711.25 crore. Acquisition of Century's Cement Business The Scheme of Demerger for acquiring the cement business of Century Textiles and Industries Limited became effective from 1st October, 2019. The Company's financials were restated from...

Number of FII/FPI investors increased from 1162 to 1199 in Jun 2025 qtr.

UltraTech Cement Ltd.

25 Jan 2020

12376.00

1.27%

UltraTech Cement (3QFY20): Robust show despite weak demand. Maintain BUY

Buy: UltraTech Cement Ltd.

Target

HDFC Securities

We reiterate BUY on UTCEM with a higher TP of Rs 5,600 (15x its Sep-21E EBITDA, implying EV of USD 220/MT). In our view, UTCEM deserves premium valuations for its capacity & cost leadership and balance sheet discipline. The stock currently trades at 13.3x/11.9x FY21/22E consol EBITDA and at an EV of USD 192/179 per MT. We reiterate BUY on UTCEM with a TP of Rs 5,600 (15x its Sep-21E EBITDA, implying EV of USD 220/MT).

UltraTech Cement Ltd. is trading above all available SMAs

UltraTech Cement Ltd.

25 Jan 2020

12376.00

1.27%

UltraTech Cement - 3QFY20 Result Update

UltraTech Cement Ltd.

Reliance Securities

Deven Choksey released a Buy report for UltraTech Cement Ltd. with a price target of 14299.0 on 24 Jul, 2025.

UltraTech Cement Ltd.

24 Jan 2020

12376.00

1.27%

Cost benefits play out with margin expansion

Buy: UltraTech Cement Ltd.

Target

Motilal Oswal

24 January 2020 UltraTech Cements (UTCEM) result instills confidence in its planned cost- rationalization and deleveraging roadmap. Operating cost per ton declined 3% YoY (-4% QoQ), driving a 38% YoY increase in EBITDA/t to INR1,008 (-2% QoQ). Strong FCF helped the company to reduce net debt sharply to INR186b (implying 1.9x net debt/EBITDA). We maintain our FY20/21 estimates and rating. Moreover, the companys clarification that it has not bid for Emami Cement should remove a key overhang on the stock. UTCEM remains our top pick in the sector. revenue declined 1% YoY to INR103.5b, while EBITDA/PAT grew 32%/75% YoY to INR21.1b/INR7.1b all broadly in line with our estimates. UTCEM incurred one-off expense of INR1.3b toward settlement of pending Consol. volumes declined 4% YoY, but EBITDA margin/ton increased 38% YoY (-2% QoQ) to INR1,008, with realization up 3.

UltraTech Cement Ltd. is trading above all available SMAs

UltraTech Cement Ltd.

26 Dec 2019

12376.00

1.27%

Demand outlook improving; Limited capex to reduce debt

Buy: UltraTech Cement Ltd.

Motilal Oswal

26 December 2019 The past few quarters have witnessed weak overall demand in India due to slow construction activity; however, the North and parts of the South (Tamil Nadu) have fared better. While overall demand in the country should be better in FY21 (~6% YoY), the East should see stronger growth (~10% YoY). While capacity addition continues to lag demand and is expected to drive higher utilizations, most additions are those of cement grinding units, which does not necessarily create new supply, and are at times, only for logistical reasons. According to our checks, currently all-India prices are up 5% YoY; led by ~10% growth in the North/Central-India, while the East/South have been nearly flat. The capex for Bara grinding unit and Super Dalla clinker (acquired from Jaypee Associates in CY17) is limited as the capacities are awaiting only final clearances. Net debt of the company is expected to decline led by limited capex spends and stronger cash flows from the ramp-up in existing capacities.

UltraTech Cement Ltd. is trading above all available SMAs

UltraTech Cement Ltd.

11 Dec 2019

12376.00

1.27%

UltraTechCement

Buy: UltraTech Cement Ltd.

Sharekhan

UltraTech Cement (UltraTech) may be affected by weak demand in Q3FY2020 (October 2019 saw cement production dip by 7.7% y-o-y as per DIPP) owing to weak government spends on infrastructure, state elections, uncertainties on a change in state government and construction ban in Delhi-NCR, etc. Pan-India cement prices have fallen by 3.1% q-o-q during Q3FY2020 (till date), although they are up 5.8% y-o-y as against a -1.3% to +2.4% price variation seen in Q3 in the previous five years. Further, key input costs continued to drop as seen from the fall in petcoke prices (average...

Deven Choksey released a Buy report for UltraTech Cement Ltd. with a price target of 14299.0 on 24 Jul, 2025.

UltraTech Cement Ltd.

27 Nov 2019

12376.00

1.27%

Revival of Century assets to support earnings growth

Buy: UltraTech Cement Ltd.

Target

Motilal Oswal

27 November 2019 Century assets generated nil EBITDA in 2QFY20, impacting UTCEMs profitability by 10%. However, Century assets have started showing signs of a turnaround, which will likely drive an improvement in earnings over the next six quarters. We forecast Century EBITDA to increase to INR1.6b in 4QFY20 and ~INR7b in FY21, contributing 5% and 6%, respectively, of the companys consol. Realization will likely improve in 4QFY20 as most of Centurys capacities transition to the UltraTech brand by Dec19, bettering pricing by INR12-15/bag. Sensex - Rebased When UTCEM had acquired JPA (21.2 MMTPA) and Binani (6.25 MMTPA) in Jun17 and Nov18 respectively, their EBITDA was only INR100-300/t. However, the company successfully turned these acquisitions around to generate estimated EBITDA of ~INR1,300/t, driven by cost reduction, rebranding and cement price hikes. We expect strong FCF generation of >INR75b per annum (7% yield) from FY20, which should drive deleveraging and stock price appreciation.

UltraTech Cement Ltd. has an average target of 13866.20 from 10 brokers.

UltraTech Cement Ltd.

30 Oct 2019, 12:00AM

12376.00

1.27%

UltraTech Cement

UltraTech Cement Ltd.

SMC online

The company consolidated revenue inclined 4% to Rs 9,620.47 crore for the second quarter ended September 2019, due to improvement in sales realization partially offset by weaker sales volume The consolidated sales volume (including overseas) eased 1% to 18.69 million tonnes...

UltraTech Cement Ltd. has an average target of 13866.20 from 10 brokers.

UltraTech Cement Ltd.

23 Oct 2019

12376.00

1.27%

UltraTech Cement (2QFY20): A robust quarter despite hiccups. Maintain BUY

Buy: UltraTech Cement Ltd.

Target

HDFC Securities

We reiterate BUY on UTCEM with a TP of Rs 5,350 (15x its Sep-21E EBITDA, implying EV of USD 210/MT). In our view, UTCEM deserves premium valuations for its capacity & cost leadership and for its balance sheet discipline. The stock currently trades at 12.8/11.5x FY21/21E consol EBITDA and at an EV of USD 170/MT. We recommend BUY on UTCEM with a TP of Rs 5,350 (15x its Sep-21E EBITDA, implying EV of USD 210/MT).

UltraTech Cement Ltd. has an average target of 13866.20 from 10 brokers.

UltraTech Cement Ltd.

23 Oct 2019

12376.00

1.27%

UltraTech Cement: Q2FY20 Result Review

Accumulate: UltraTech Cement Ltd.

Target

IDBI Capital

UltraTech (UTCEM) reported weak Q2FY20 numbers as expected, largely driven by 3.3% QoQ decline in pricing and 1.7% YoY decline in volumes. During the quarter, UTCEM has consolidated results of Century's cement business and hence there is some variation in our estimates and actuals. Century cement business reported revenue/EBITDA/PAT (loss) of Rs7460mn/Rs100mn/(Rs1000mn) respectively during the quarter. Total EBITDA at Rs18.1bn is 3.5% above our estimates and 6% below consensus. EBITDA/mt at Rs1,020 is sharply lower compared to last quarter on account of weak profitability of Century assets and weak realisations in East and South region. From the earlier...

Number of FII/FPI investors increased from 1162 to 1199 in Jun 2025 qtr.

Is UltraTech Cement Ltd. worth buying?

415 Votes:

Buy 72.53%

Sell 12.77%

Hold 14.7%

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