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IDBI Capital Report
UltraTech Cement Ltd. has announced new capacity addition plan of 12.8 million tonnes and with this, it will add 19.5 million tonne capacity over FY20-23E.
On yearly basis, the company capacity will increase by 4% YoY each in FY21E/22E and 10% YoY in FY23E.
Post expansion, its market share by capacity will increase from 22% currently to 23-23.5% by FY23E.
Capex for new addition at Rs 55 billion will be funded from internal accruals.
In 19.5 million tonne addition, 70% plus of the capacity will be brownfield expansion and project cost will be less than 60/tonne U.S. dollar.
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