India’s largest cement manufacturer, continues to attract bullish views from top brokerages due to its strong fundamentals, pan-India presence, and consistent market share gains.
With robust pricing trends and ongoing cost optimisation, the company is well-placed to benefit from rising infrastructure and housing demand. Check out the target levels shared by the Brokerages
Brokerage Target & Rational
Morgan Stanley has given an Overweight rating on UltraTech Cement, with the price target being raised from Rs. 13,650 to Rs. 14,000, which is an upside of 22.80 percent from current levels of Rs. 11,400 per share. It also mentions Ultratech as its preferred pick within the cement sector
The brokerage is bullish due to UltraTech’s steady market share gains, pan-India presence, growing retail network, and strong brand. It expects the company to post 10 percent volume growth CAGR over the next three years, ahead of the industry.
With cost-saving measures already underway and room for further optimisation, UltraTech is seen as a top pick for its strong earnings potential and margin expansion in the current cycle.
JM Financial has given a target of Rs. 13,500 per share, which is an upside of 18.40 percent. It highlights that cement prices remained firm in May 2025, hovering at a 17-month high of Rs. 388 per bag, which supports healthy margins.
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Although demand softened slightly due to early monsoons and regional tensions, the long-term outlook remains strong, backed by the government’s focus on infrastructure and housing. UltraTech, with its pan-India presence, is well-positioned to benefit from the expected 6-7 percent annual volume growth.
UltraTech Cement Limited is one of India’s leading cement producers and a key part of the Aditya Birla Group. It manufactures a wide range of products, including grey cement, white cement, and ready-mix concrete, catering to both domestic and international markets. Known for its extensive manufacturing and distribution network, UltraTech has a strong presence across India and several countries abroad.
It is the third largest cement company in the world, excluding China, with a Grey Cement production capacity of 183.40 Million Tonnes Per Annum in FY25 with an estimated target of 210.50 mtpa by 2027 UltraTech is the only cement company globally (outside of China) to have 100+ MTPA of cement manufacturing capacity in a single country.
The company reported a 12.94 percent YoY increase in revenue from Rs. 20,419 Crore in Q4FY24 to Rs. 23,063 Crore in Q4FY25. On a QoQ basis, the company reported an increase of 29.72 percent in revenue from Rs. 17,779 Crore in the previous quarter.
Their Net profit saw an increase of 9.56 percent YoY from Rs. 2,259 Crore to Rs. 2,475 Crore for the same period. On a QoQ basis, the company reported an impressive increase of 81.58 percent in Net profit from Rs. 1,363 Crore in the previous quarter.
Written By Abhishek Das
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