Ultratech Cement

₹8133 36.5 | 0.5%

WEBSITE BSE:532538 NSE : ULTRATECH CM 09 Jun, 14:22

Market Cap ₹234787 Cr.

Stock P/E 46.4

P/B 4.3

Current Price ₹8133

Book Value ₹ 1881.8

Face Value 10

52W High ₹8211.5

Dividend Yield 0.47%

52W Low ₹ 5158.1

Edit Ratio

Ultratech Cement Research see more...

Overview Inc. Year: 2000Industry: Cement & Construction Materials

UltraTech Cement Ltd is an India-based company engaged in the commercial enterprise of cement and cement related products. The Company manufactures various products that cater to construction desires from basis to complete, consisting of Ordinary Portland Cement (OPC), Portland Blast Furnace Slag Cement (PSC), Portland Pozzolana Cement (PPC), white cement and white cement-based products, ready mix concrete, consisting of speciality concrete, building merchandise, together with aerated autoclaved concrete (AAC) blocks and joining mortars and a number of others in retail formats. The Company's products includes UltraTech Cement, UltraTech Concrete, UltraTech Building Products, Birla White Cement and White Topping Concrete. Its UltraTech Building products variety includes tiles adhesives, repair products (MICROKRETE and BASEKRETE), waterproofing products, industrial and precision grout, plasters (READIPLAST, SUPER STUCCO), masonry products (FIXOBLOCK), mild weight autoclaved aerated concrete block.

Ultratech Cement Share Price

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Price

Price: NSE50 DMA200 DMAVolume

Quarterly Price

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Peer Comparison

Ultratech Cement Quarterly Results

#(Fig in Cr.)	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Net Sales	12254	14406	11830	12017	12985	15767	15164	13893	15521	18662
Other Income	268	60	205	140	71	92	109	146	127	122
Total Income	12522	14466	12035	12157	13055	15860	15273	14039	15648	18784
Total Expenditure	9160	10715	8522	9302	10566	12695	12069	12026	13185	15340
Operating Profit	3362	3751	3512	2855	2490	3165	3204	2013	2462	3444
Interest	356	377	326	230	182	206	216	200	215	191
Depreciation	674	698	660	677	674	703	695	708	723	762
Exceptional Income / Expenses	0	-39	0	0	0	0	0	0	0	0
Profit Before Tax	2332	2637	2526	1947	1633	2255	2293	1105	1524	2491
Provision for Tax	747	865	827	637	-76	-198	711	344	465	822
Profit After Tax	1585	1772	1700	1310	1709	2453	1581	760	1059	1669
Adjustments	-0	3	3	3	-2	167	3	-4	-1	-3
Profit After Adjustments	1584	1775	1703	1314	1708	2620	1584	756	1058	1666
Adjusted Earnings Per Share	54.9	61.5	59	45.5	59.2	90.8	54.9	26.2	36.7	57.7

Ultratech Cement Profit & Loss

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	19232	21324	21652	24340	25153	25375	30979	41609	42430	44726	52599	63240
Other Income	371	304	322	350	464	648	589	463	651	746	508	504
Total Income	19603	21628	21974	24690	25617	26023	31567	42072	43081	45472	53107	63744
Total Expenditure	15039	16485	17616	19915	20252	20163	24833	34262	33183	33158	41084	52620
Operating Profit	4565	5143	4358	4776	5365	5861	6734	7810	9898	12314	12022	11123
Interest	256	252	361	587	566	640	1238	1778	1992	1498	945	822
Depreciation	963	1023	1139	1203	1377	1348	1848	2451	2723	2700	2715	2888
Exceptional Income / Expenses	0	0	0	0	0	0	-347	-114	0	-261	0	0
Profit Before Tax	3345	3867	2858	2986	3421	3872	3301	3468	5183	7858	8364	7413
Provision for Tax	948	1179	645	884	942	1159	1077	1068	-568	2539	1190	2342
Profit After Tax	2397	2688	2213	2102	2480	2714	2224	2400	5751	5319	7174	5069
Adjustments	6	-10	-7	-4	-2	1	-2	3	4	144	170	-5
Profit After Adjustments	2403	2678	2206	2098	2478	2715	2222	2404	5755	5463	7344	5064
Adjusted Earnings Per Share	87.7	97.7	80.4	76.5	90.3	98.9	80.9	87.5	199.4	189.3	254.4	175.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	18%	8%	16%	11%
Operating Profit CAGR	-2%	15%	15%	10%
PAT CAGR	35%	44%	21%	12%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	48%	29%	16%	16%
ROE Average	15%	15%	13%	14%
ROCE Average	15%	14%	13%	14%

Ultratech Cement Balance Sheet

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	12824	15230	17182	19041	21946	24392	26381	33751	39044	44175	50435
Minority's Interest	62	78	17	18	15	10	16	12	8	6	-3
Borrowings	4843	5169	6021	4993	4897	6371	15863	20650	17368	13548	5303
Other Non-Current Liabilities	1857	2038	2441	2981	2717	3108	3365	6579	6214	7856	7921
Total Current Liabilities	5309	7067	6525	11020	11618	8329	11515	15533	16341	20348	20155
Total Liabilities	24896	29582	32185	38053	41193	42209	57141	76525	79214	86176	83811
Fixed Assets	13314	15050	18100	23343	25309	25904	39715	56645	57151	55412	55488
Other Non-Current Assets	4391	6249	4594	6050	5350	2980	5964	6927	7341	6714	10834
Total Current Assets	7192	8283	9491	8660	10519	13319	11418	11861	14115	23054	17480
Total Assets	24896	29582	32185	38053	41193	42209	57141	76525	79214	86176	83811

Ultratech Cement Cash Flow

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	190	214	185	151	82	90	59	101	443	147	177
Cash Flow from Operating Activities	3383	3618	3455	4190	4526	5005	3888	6014	8972	12500	9283
Cash Flow from Investing Activities	-3050	-4387	-2396	-2166	-3727	-2480	1862	1059	-4192	-8856	2257
Cash Flow from Financing Activities	-353	715	-949	-2110	-844	-2535	-5735	-6756	-5076	-4356	-12498
Net Cash Inflow / Outflow	-20	-54	110	-86	-45	-10	14	316	-296	-713	-958
Closing Cash & Cash Equivalent	214	185	348	88	90	59	77	469	147	-565	-781

Ultratech Cement Ratios

#	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	87.69	97.66	80.44	76.47	90.3	98.9	80.92	87.51	199.4	189.26	254.42
CEPS(Rs)	122.6	135.37	122.22	120.46	140.54	147.97	148.3	176.64	293.58	277.82	342.57
DPS(Rs)	8	9	9	9	9.5	10	10.5	11.5	13	37	38
Book NAV/Share(Rs)	467.74	555.34	626.37	693.61	798.76	887.8	960.05	1031.87	1351.49	1528.88	1745.44
Core EBITDA Margin(%)	19.49	20.16	16.55	16.15	17.26	18.2	19.28	17.66	21.79	25.86	21.89
EBIT Margin(%)	16.74	17.16	13.2	13.04	14.05	15.75	14.24	12.61	16.91	20.92	17.7
Pre Tax Margin(%)	15.55	16.11	11.72	10.9	12.05	13.52	10.36	8.34	12.21	17.57	15.9
PAT Margin (%)	11.14	11.2	9.08	7.67	8.73	9.47	6.98	5.77	13.55	11.89	13.64
Cash Profit Margin (%)	15.62	15.46	13.75	12.06	13.58	14.18	12.78	11.66	19.97	17.93	18.8
ROA(%)	10.31	9.87	7.17	5.99	6.26	6.51	4.48	3.59	7.39	6.43	8.44
ROE(%)	20.44	19.17	13.66	11.61	12.11	11.72	8.77	8.78	17.08	12.8	15.18
ROCE(%)	20.64	19.96	13.67	13.38	12.98	13.79	11.53	10	11.84	14.77	14.86
Receivable days	16.23	18.74	22.52	21.92	23.06	23.48	22.78	21.96	22.24	20.22	19.58
Inventory Days	36.41	36.02	38.34	36.83	34.73	30.93	32.46	32.31	35.62	33.46	33.36
Payable days	253.13	252.31	236.65	193.85	141.64	144.86	146.09	144.9	182.63	203.76	238.55
PER(x)	17.19	19.13	27.21	37.6	35.74	40.34	48.79	45.7	16.32	35.6	25.95
Price/Book(x)	3.22	3.36	3.49	4.15	4.04	4.49	4.11	3.88	2.41	4.41	3.78
Dividend Yield(%)	0.53	0.48	0.41	0.31	0.29	0.25	0.27	0.29	0.4	0.55	0.58
EV/Net Sales(x)	2.44	2.74	3.1	3.63	3.85	4.56	4.12	3.23	2.74	4.76	3.81
EV/Core EBITDA(x)	10.29	11.35	15.38	18.5	18.06	19.75	18.96	17.21	11.76	17.29	16.67
Net Sales Growth(%)	39.38	10.88	1.54	12.42	3.34	0.88	22.08	34.31	1.97	5.41	17.6
EBIT Growth(%)	76.82	14.37	-21.87	10.99	11.63	13.15	0.6	15.58	36.75	30.4	-0.5
PAT Growth(%)	76.13	12.13	-17.68	-5	17.96	9.43	-18.02	7.91	139.58	-7.51	34.88
EPS Growth(%)	75.74	11.38	-17.63	-4.94	18.08	9.53	-18.18	8.15	127.85	-5.08	34.43
Debt/Equity(x)	0.46	0.48	0.43	0.52	0.48	0.35	0.74	0.89	0.59	0.46	0.2
Current Ratio(x)	1.35	1.17	1.45	0.79	0.91	1.6	0.99	0.76	0.86	1.13	0.87
Quick Ratio(x)	0.94	0.81	1.06	0.52	0.69	1.31	0.71	0.5	0.61	0.94	0.59
Interest Cover(x)	14.05	16.33	8.92	6.09	7.04	7.05	3.67	2.95	3.6	6.25	9.85
Total Debt/Mcap(x)	0.14	0.14	0.12	0.12	0.12	0.08	0.18	0.23	0.25	0.11	0.05

Ultratech Cement Shareholding Pattern

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	59.97	59.96	59.96	59.96	59.96	59.96	59.96	59.96	59.96	59.96
FII	16.8	17.28	16.58	16.48	15.74	14.03	13.12	14.05	14.11	14.76
DII	14.18	13.82	14.44	14.56	15.19	16.43	18.21	17.36	17.46	16.99
Public	8.51	8.4	8.49	8.48	8.58	9.05	8.18	8.12	7.96	7.77
Others	0.54	0.54	0.52	0.52	0.53	0.53	0.53	0.52	0.52	0.52
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	17.31	17.31	17.31	17.31	17.31	17.31	17.31	17.31	17.31	17.31
FII	4.85	4.99	4.79	4.76	4.54	4.05	3.79	4.05	4.07	4.26
DII	4.09	3.99	4.17	4.2	4.39	4.74	5.26	5.01	5.04	4.9
Public	2.46	2.42	2.45	2.45	2.48	2.61	2.36	2.34	2.3	2.24
Others	0.16	0.16	0.15	0.15	0.15	0.15	0.15	0.15	0.15	0.15
Total	28.86	28.87	28.87	28.87	28.87	28.87	28.87	28.87	28.87	28.87

Pros

Company has delivered good profit growth of 21% CAGR over last 5 years
Company has reduced debt.
Company is almost debt free.

Cons

Debtor days have increased from 203.76 to 238.55days.
Stock is trading at 4.3 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.