The shares of India’s largest cement manufacturer and the market leader jumped 2 percent in the day’s trade following the release of Q3FY24 results with a jump in net profit by 67 percent YoY.
At 1:15 p.m the shares of Ultratech Cement Limited were trading at Rs. 10,107.95, up 1.25 percent from its previous day’s close price of Rs. 9,892.25 and its market capitalization is Rs. 2,89,482 Crores.
Its revenue from operations grew by 7.85 percent YoY from Rs. 15520.93 Crores in Q3FY23 to Rs. 16739.97 Crores in Q3FY24 and it grew 4.54 percent QoQ from Rs. 16012.13 Crores in Q2FY24 to Rs. 16739.97 Crores in Q3FY24.
Its Net Profit grew by 67.02 percent YoY from Rs. 1062.58 Crores in Q3FY23 to Rs. 1774.78 Crores in Q3FY24 and it grew 38.61 percent QoQ from Rs. 1280.38 Crores in Q2FY24 to Rs. 1774.78 Crores in Q3FY24.
UltraTech Cement is the largest cement manufacturer and the market leader in India with a market share of 25.9 percent. It is engaged in the manufacturing and sale of Cement and Cement related products in India and overseas. It will increase its grey cement capacity to 157.4 MTPA by FY25.
It has reported a return on equity (ROE) of 9.63 percent and a return on capital employed (ROCE) of 12.9 percent, it is making good returns on its equity and capital employed.
According to the latest shareholding data available for the December 2023 quarter, the company’s Promoters hold 59.96 percent stake, the Domestic Institutional Investors hold 13.68 percent and the Foreign Institutional Investors (FII) hold 18.20 percent.
Written by: Bharath K.S
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