UltraTech Cement Q3 PAT seen up 53.7% at Rs 490 cr

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UltraTech Cement Q3 PAT seen up 53.7% at Rs 490 cr

UltraTech Cement's profit after tax is likely to shoot up 53.7% to Rs 490.1 crore in the third quarter of FY12 as against Rs 318.96 crore in the corresponding quarter of last fiscal.

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UltraTech Cement 's profit after tax is likely to shoot up 53.7% to Rs 490.1 crore in the third quarter of FY12 as against Rs 318.96 crore in the corresponding quarter of last fiscal.

Revenue is seen increasing by 22% to Rs 4,518.4 crore from Rs 3,715.2 crore year-on-year.

EBITDA is expected to go up by 33% to Rs 941.49 crore in the quarter ended December FY12 from Rs 707.8 crore in a year ago quarter.

EBITDA is likely to be at 20.8% versus 19.1% year-on-year and 14.9% quarter-on-quarter.

On quarter-on-quarter basis, company's revenue is seen going up by 16% and EBITDA is likely to jump 62%; PAT is expected to go up 75.7%.
 
Highlights

Pan-India will help even out the cement price fluctuations

North, East and Central India regions witnessed a decline in realisation in December 2011 (4%-7%) after increases in October and November

South India realisations remained stable with poor demand in the quarter.

Strong realisations in Western India on a QoQ basis

Topline has been aided, owing to their 25% exposure to west and 18% exposure in the south

Continuous price hikes and robust volume performance for the quarter (9% YoY growth) will lead to high realisations for the quarter (17% YoY growth)

Volume:

Volume to grow 5% YoY and average realisations up 16% YoY

Blended sales volume (grey & white) is expected to increase around 5% YoY (around 12% QoQ) in Q3FY12 at 10.3MT

Expectations

EBITDA margins to be under pressure:

Margins likely to be under pressure due to higher freight costs and coal costs

Higher realizations likely to dilute cost inflation on account of energy and freight

PAT: Lower interest, higher other income and lower tax will boast the PAT