By Akshay Shetty, Research Analyst, Mirae Asset Sharekhan.
UltraTech had a steady second quarter. Domestic cement volumes grew 13.8% to 35.9 million tonnes, even in a quarter hit by the monsoon. This came from new plants, a wider market reach and more sales of premium products. Revenue rose 18.8% to Rs 23,295 crore. Operating profit grew 20.3% to Rs 3,721 crore, while EBITDA margin expanded by 19 bps yoy to Rs. 16%. Adj Net profit rose 21.8% to Rs 1,501 crore. Higher volumes and improved profitability strengthened UltraTech’s position in the market.
