UltraTech Cement - Weak Q2; Price Hikes On Cards To Mitigate Cost Pressure: ICICI Direct
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ICICI Direct Report
UltraTech Cement Ltd.’s results were weak on the margin front due to sharp cost escalations on the power, fuel and freight front.
The company clocked revenue of Rs 11,548 crore, up 15.3% YoY, flat QoQ.
Domestic sales volume was at 20.4 million tonne (up 6.4% YoY). Demand in East, Central remained muted due to heavy monsoons.
Ebitda margin was down 512 basis points QoQ to 22.5%, still better than last five year’s average Ebitda margin of 20%.
UltraTech Cement's profit after tax was at Rs 1,300 crore, down 22.7% QoQ (our estimate: Rs 1267 crore).
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