BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
UltraTech Cement Ltd.'s Q1 FY22 Ebitda was in-line with our estimate.
Opex/tonne was largely flat QoQ but Ebitda/tonne was higher by 13% QoQ to Rs 1571 led by price hikes.
In Q1 FY22 the company's capacity utilisation stood at 73% with June 2021 month utilisation at 74%.
UltraTech Cement re-iterated its plan to expand capacity by 19 million tonnes to reach 136 million tonnes by FY23E.
The company’s balance sheet continues to remain lean and net debt/ Ebitda at 0.44 times versus 0.55 times QoQ.
Positive in UltraTech Cement's business is its leadership position in Indian cement market, balance sheet deleveraging and capacity addition.
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