The shares of India’s leading and largest cement manufacturer gained 3 percent in the day’s trade after it announced its quarter ended September (Q2FY24) results with 69 percent growth in the net profit year-on-year basis.
At the day’s closing the shares of Ultratech Cement were trading at Rs. 8,514.65 up 2.86 percent from its previous day close price with a market capitalization of Rs. 2,45,810 Crores.
As per the company’s filing, Ultratech Cement have released their quarter ended september (Q2FY24) results/ updates and it is as follows
The company’s total revenue grew 15.25 percent YoY from Rs. 14,038.95 Crores in Q2FY23 to Rs. 16,179.26 Crores in Q2FY24 and it has declined by 9.66 percent QoQ from Rs. 17,910.83 in Q1FY24 to Rs. 16,179.26 in Q2FY24.
Its net profit grew 68.75 percent YoY from Rs. 758.70 Crores in Q2FY23 to Rs. 1,280.38 Crores IN Q2FY24 and it has declined by 24.24 percent QoQ from Rs. 1,690.22 Crores in Q1FY24 to Rs. 1,280.38 Crores in Q2FY24.
As per the company’s financial statements Ultratech Cement’s Revenue from operations grew 20.23 percent from Rs. 52,598.83 crores in FY22 to Rs. 63,239.98 crores in FY23, accompanied by decreasing profits of Rs. 7,174.34 crores to Rs. 5,073.4 crores.
It has reported a return on equity (ROE) of 9.7 percent and a return on capital employed of 13.2 percent, this indicates that the company is decent returns on its equity and capital employed as it is not able to maintain good profit margins
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 59.96 percent stake, the Domestic Institutional Investors hold 15.10 percent and the Foreign Institutional Investors (FII) hold 16.64 percent.
UltraTech Cement is the largest cement manufacturer and the market leader in India , it is engaged in the manufacturing and sale of Cement and Cement related products in India and overseas.
Written by: Bharath K.S
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