UltraTech Cement - Volume Growth Robust; Gaining Market Share: Motilal Oswal

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.UltraTech Cement Ltd.’s domestic grey cement capacity/volume compound annual growth rate at 10%/11% over FY14-23 exceeded that of industry (at 5% each) over the same period. This resulted in a considerable market share gain to ~26% in FY23 from ~16% in FY14. In FY23, UltraTech Cement’s volume growth of 14% YoY exceeded that of industry at ~10% YoY. UltraTech Cement commissioned 12.4 million tonnes per annum grey cement capacity and 8.1 mtpa clinker capacity (part of phase-I expansion) in FY23, spread across North, East, West and Central India. In April 2023 it commissioned 2.2 mtpa grinding capacity at Patliputra, Bihar (brownfield expansion and part of Phase-I). Currently, its total domestic grey cement capacity has increased to 129.2 mtpa and clinker capacity has risen to 86.2 mtpa. Remaining capacity under Phase -I expansion ~2 mtpa is under trial-run and will be commissioned in Q1 FY24.The company is also working on phase-II expansion of 22.6 mtpa that will entail a capex of Rs 128.9 billion (capex/tonne of $76). This expansion will be completed by H1 FY26E. Post-completion of this expansion, UltraTech Cement’s total domestic grey cement capacity will be at 154 mtpa..Click on the attachment to read the full report:.Here Are The Top Investment Ideas For May 2023 Recommended By Motilal Oswal.DISCLAIMERThis report is authored by an external party. BQ Prime 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 BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

UltraTech Cement - Volume Growth Robust; Gaining Market Share: Motilal Oswal

Capacity expansion continues to drive leadership position.

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