BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
HDFC Securities Institutional Equities
We continue to like UltraTech Cement Ltd. for its healthy margin outlook and balance sheet management.
The company's consolidated Ebitda/adjusted profit after tax in Q4 FY22 fell 17/19% YoY (despite 10% revenue growth), owing to weak demand (till mid-February), which muted cost passthrough amid rising energy costs.
While unitary Ebitda recovered 6% QoQ (on operating-leverage gains), energy inflation pulled it down by 17% YoY to Rs 1,110/million tonne.
UltraTech Cement expects to sustain this margin in Q1 FY23 on account of its low-cost fuel inventory and healthy cost pass-through.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
