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UltraTech – Outstanding results amid market disruptions

With economic activities gathering pace, the cyclical recovery in the cement sector seems under way. The stock of UltraTech trades at its highest levels since January 2020

October 29, 2020 / 08:44 PM IST
UltraTech – Outstanding results amid market disruptions

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

UltraTech Cement (CMP: Rs 4,629, Market Cap: Rs 133,624 crore) had a very strong September quarter relative to expectations. Both revenues and margins were much better than expected, fuelling a handsome beat on operating-line and bottom line. The quarterly results underscore the strength of the brand as well as the execution capabilities of the management to deliver in an unforeseen operating environment. Key Result Highlights Revenue growth of 8 per cent was quite impressive as the company faced a weak economy...

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