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ICICI Direct Report
Against the backdrop of weak sentiments due to the pandemic, UltraTech Cement Ltd.’s operating performance in H1 FY21 improved sharply led by strong demand from rural segment, better pricing environment and benign costs.
The improved outlook also led to reinstatement of capex plans by the company that were halted earlier post imposition of lockdown in April 2020.
Utilisation also crossed 80% during October-November 2020 versus 69% in Q2 FY21 with plant utilisation in eastern and central region remaining even higher supported by strong demand.
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