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.
ICICI Securities Report
UltraTech Cement Ltd.'s Q4 FY21 consolidated Ebitda at Rs 37 billion (up 51% YoY) was significantly higher than consensus estimates.
India operations volume grew 30% YoY (two-year compound annual growth rate of 4.5%), grey cement realisation was up 2% QoQ and Ebitda/tonne rose 17% YoY to Rs 1,356/tonne – all ahead of consensus estimates.
Management expects strong upcycle over the next three to five years with all demand drivers looking upbeat and the recent slowdown arising from the second Covid-19 wave may be temporary.
We believe the company is likely to rerate as it continues to gain market share with improved profitability/return on capital employed and turn net debt free by FY22E.
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.
