Ultratech Cement at new high

Ultratech Cement hit a record high today at Rs.5829.90, a rise of almost 5.5% and it continues to remain in the green. Its 10% UC for the day is at Rs.6084.25.

The market is happy with its performance for Q3FY21. Its consolidated net profit more than doubled to Rs.1584 crore, mainly on the back of  surge in volumes and lowered power costs helped.

Volumes rose 14% (YoY) to 23.9 million ton on account of an uptick in demand from government projects, infra, and urban real estate. Realisations were at Rs.5184/tonne, up 4% (YoY).

Consolidated net sales during the quarter grew 17% at Rs.12,144 crore.

EBITDA rose 56% at Rs.3362 and margins rose to 27.68% from 20.92%.

Net det reduction during the quarter was Rs.2696 crore and year-to-date it was Rs.7424 crore. On absolute basis, the net debt for the year is reduced from Rs. 12,132 crore in Sep-20 to Rs. 9,436 crore as of Dec-20.