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UltraTech Cement's stock continues to be an attractive proposition

While Q2 was decent despite seasonally weak, higher prices and operating leverage point to better prospects

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UltraTech uses LNG trucks (Photo: Twitter)

Devangshu Datta

4 min read Last Updated : Oct 20 2023 | 10:49 PM IST

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UltraTech Cement (UTCL) reported decent volume growth of around 15 per cent in the July-September quarter of 2023-24 (Q2FY24).

Realisations were more or less sustained quarter-on-quarter (Q-o-Q) despite seasonal weakness due to monsoons.

This has led to EBITDA (Earnings before interest, taxes, depreciation and amortization)/ tonne coming in at Rs 956, which was up 18 per cent year-on-year (Y-o-Y), and down 6 per cent Q-o-Q.

The management claimed prices have slightly risen except in the central region. A recent round of price hikes may be sustainable despite competition.

UltraTech’s consolidated grey cement volume surged 16 per cent Y-o-Y (domestic sales

Topics : UltraTech Cement Cement stocks stock market trading

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