IDBI Capital: UltraTech Cement Eyeing Market Share
A worker transports cement in a wheel-barrow along a road in Ooty, India. (Photographer: Dhiraj Singh/Bloomberg)

IDBI Capital: UltraTech Cement Eyeing Market Share

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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. 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.

Click on the attachment to read the full report:

IDBI Capital Ultratech Cement Company Update.pdf

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