02-05-2025
Buy UltraTech Cement, target price Rs 13,510: Axis Securities
Agencies
UltraTech Cement's key products/revenue segments include Portland/Possolana Cement, Cement Grey, Other Operating Revenue, Scrap, Lease Rentals, Sale of services for the year ending 31-Mar-2024.
Financials
For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 23165.45 crore, up 32.85% from last quarter Total Income of Rs 17437.62 crore and up 12.70% from last year same quarter Total Income of Rs 20554.55 crore. The company has reported net profit after tax of Rs 2485.56 crore in the latest quarter.
The company's top management includes Mangalam Birla, Kripalu, Duggal, Bharucha, Adhikari, Birla, Daga, Mr.K C Jhanwar, Mr.K K Maheshwari, Mr.S B Mathur. Company has KKC & Associates LLP as its auditors. As on 31-03-2025, the company has a total of 29 crore shares outstanding.
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Investment Rationale
The UltraTech Cement management has guided for double-digit volume growth for the company in FY26. Given the government's focus on infrastructure and housing projects, along with increased rural and urban demand, a sustainable volume growth of 7-8% is expected for the industry going forward. Pricing remains dynamic and will be determined by market forces. The current Valuation is 19xFY27E EV/EBITDA against earlier Valuation of 19x FY27E EV/EBITDA). Current target price is Rs 13,510/ share (Earlier TP: Rs 13,510/share). Axis Securities maintains its BUY recommendation on the stock.
Promoter/FII Holdings
Promoters held 59.23 per cent stake in the company as of 31-Mar-2025, while FIIs owned 15.17 per cent, DIIs 16.52 per cent.
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(You can now subscribe to our ETMarkets WhatsApp channel Axis Securities has maintained a Buy call on UltraTech Cement with an unchanged target price of Rs 13510. The current market price of UltraTech Cement is Rs 11765.9. UltraTech Cement, incorporated in 2000, is a Large Cap company with a market cap of Rs 349958.89 crore, operating in Cement Cement's key products/revenue segments include Portland/Possolana Cement, Cement Grey, Other Operating Revenue, Scrap, Lease Rentals, Sale of services for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 23165.45 crore, up 32.85% from last quarter Total Income of Rs 17437.62 crore and up 12.70% from last year same quarter Total Income of Rs 20554.55 crore. The company has reported net profit after tax of Rs 2485.56 crore in the latest company's top management includes Mangalam Birla, Kripalu, Duggal, Bharucha, Adhikari, Birla, Daga, Mr.K C Jhanwar, Mr.K K Maheshwari, Mr.S B Mathur. Company has KKC & Associates LLP as its auditors. As on 31-03-2025, the company has a total of 29 crore shares UltraTech Cement management has guided for double-digit volume growth for the company in FY26. Given the government's focus on infrastructure and housing projects, along with increased rural and urban demand, a sustainable volume growth of 7-8% is expected for the industry going forward. Pricing remains dynamic and will be determined by market forces. The current Valuation is 19xFY27E EV/EBITDA against earlier Valuation of 19x FY27E EV/EBITDA). Current target price is Rs 13,510/ share (Earlier TP: Rs 13,510/share). Axis Securities maintains its BUY recommendation on the held 59.23 per cent stake in the company as of 31-Mar-2025, while FIIs owned 15.17 per cent, DIIs 16.52 per cent.
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