Buy UltraTech Cement; target of Rs 13,647: Sharekhan

Buy

Sharekhan's research report on UltraTech Cement

Consolidated revenue grew by 13% y-o-y in Q4FY25 to Rs. 23,063 crore, while EBITDA increased by 12% y-o-y to Rs. 4,618 crore. Industry wide cement demand grew 4% y-o-y, while UltraTech achieved a 10% growth in sales volume. Management eyes double-digit volume growth in FY26 organically. Company is also on track to achieve cost savings of Rs. 300 per tonne by FY27. The company expects to spend Rs. 9,000-10,000 crore in FY26 and aims to increase its capacity to 211 MT by FY27, versus 183.4 MT in FY25.

Outlook

We maintain a Buy rating on UltraTech with a revised target price (PT) of Rs. 13,647, given its strong growth outlook over the next three years.

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UltraTech Cement - 30042025 - khan