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Q1FY22 Result Update - UltraTech Cement - ICICI Direct

Posted On: 2021-07-25 07:16:36 (Time Zone: UTC)


UltraTech surprised positively on the margin front in Q1FY22 leading to better profitability despite 17.8% QoQ drop in revenues.

- Clocked revenue of Rs. 11,477 crore, down 17.8% QoQ led by sales volumes de-growth of 22.8% to 20.5 MT. On YoY basis, revenues were up 55.6%

- EBITDA/t up 17% QoQ to Rs. 1,545/t (vs. last quarter EBITDA/t of Rs. 1321/t). EBITDA margin was at 27.6%, up 249 bps QoQ, 112 bps YoY

- Ensuing PAT was at Rs. 1,681 crore, up 108.7% YoY, down 5.4% QoQ vs. our estimate: Rs. 1457 crore)

Key triggers for future price performance

- The new organic capacities are being added at lower capital cost (US$60/t) that will help in boosting return ratios (to generate 16-18% IRR)

- Despite capex plans, the company also aims to become net debt-free by FY23E supported by strong operating cash flows (from existing and acquired assets) and through efficient w/cap management

For details, click on the link below: Link to the report

Shares of ULTRATECH CEMENT LTD. was last trading in BSE at Rs. 7494 as compared to the previous close of Rs. 7459.85. The total number of shares traded during the day was 31260 in over 6923 trades.

The stock hit an intraday high of Rs. 7630 and intraday low of 7474. The net turnover during the day was Rs. 235456432.


Source: Equity Bulls

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