UltraTech Cement Ltd

₹ 6,775 2.84%
05 Aug - close price
About

UltraTech Cement is engaged in the manufacturing and sale of Cement and Cement related product primarily in India.[1]

Key Points

Manufacturing Capabilities
Presently, the company has an installed capacity of ~117 MnTPA of cement which is ~24% of total installed cement capacity in India.[1]
Its manufacturing facilities are present across India with no region accounting for more than 25% of sales.[2] It has ~50 integrated plants spread across India.[3]
Presently, it has a capacity utilization rate of ~80%[4]

  • Market Cap 195,580 Cr.
  • Current Price 6,775
  • High / Low 8,269 / 5,157
  • Stock P/E 27.1
  • Book Value 1,747
  • Dividend Yield 0.56 %
  • ROCE 14.5 %
  • ROE 15.2 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 21.9% CAGR over last 5 years

Cons

  • Stock is trading at 3.88 times its book value
  • Tax rate seems low

* 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.

Peer comparison

Sector: Cement Industry: Cement - North India

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
11,420 9,620 10,439 10,854 7,671 10,387 12,262 14,406 11,830 12,017 12,985 15,767 15,164
8,470 7,703 8,461 8,411 5,594 7,689 9,160 10,715 8,522 9,302 10,566 12,695 12,069
Operating Profit 2,949 1,918 1,978 2,444 2,077 2,698 3,102 3,690 3,307 2,715 2,419 3,073 3,095
OPM % 26% 20% 19% 23% 27% 26% 25% 26% 28% 23% 19% 19% 20%
135 148 169 200 121 214 260 24 205 140 71 253 110
Interest 503 507 472 506 394 358 356 377 326 230 182 206 216
Depreciation 688 668 678 678 651 677 674 698 660 677 674 703 695
Profit before tax 1,893 890 997 1,459 1,153 1,876 2,332 2,639 2,527 1,947 1,634 2,416 2,293
Tax % 32% 35% 29% -122% 31% 30% 32% 33% 33% 33% -5% -8% 31%
Net Profit 1,281 579 712 3,240 794 1,309 1,584 1,775 1,703 1,314 1,708 2,620 1,584
EPS in Rs 46.64 21.08 24.66 112.26 27.52 45.36 54.89 61.50 58.99 45.50 59.16 90.78 54.87

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
13,646 18,551 20,514 20,730 23,306 25,153 25,375 30,979 41,462 42,430 44,726 52,599 55,933
10,950 14,357 15,674 16,695 18,881 20,252 20,162 24,834 34,115 33,184 33,158 41,084 44,631
Operating Profit 2,696 4,194 4,839 4,035 4,425 4,901 5,212 6,145 7,347 9,246 11,568 11,514 11,302
OPM % 20% 23% 24% 19% 19% 19% 21% 20% 18% 22% 26% 22% 20%
154 371 304 322 350 464 648 242 350 651 619 669 574
Interest 292 256 252 361 587 566 640 1,238 1,778 1,992 1,486 945 834
Depreciation 813 963 1,023 1,139 1,203 1,377 1,348 1,848 2,451 2,723 2,700 2,715 2,750
Profit before tax 1,745 3,345 3,867 2,858 2,986 3,421 3,872 3,301 3,468 5,183 8,001 8,524 8,291
Tax % 22% 28% 30% 23% 30% 28% 30% 33% 31% -11% 32% 14%
Net Profit 1,367 2,403 2,678 2,206 2,098 2,478 2,715 2,222 2,404 5,755 5,463 7,344 7,226
EPS in Rs 49.90 87.69 97.66 80.44 76.47 90.30 98.90 80.92 87.51 199.40 189.26 254.42 250.31
Dividend Payout % 12% 9% 9% 11% 12% 11% 10% 13% 13% 7% 20% 15%
Compounded Sales Growth
10 Years: 11%
5 Years: 16%
3 Years: 8%
TTM: 14%
Compounded Profit Growth
10 Years: 12%
5 Years: 22%
3 Years: 44%
TTM: 12%
Stock Price CAGR
10 Years: 15%
5 Years: 11%
3 Years: 17%
1 Year: -10%
Return on Equity
10 Years: 13%
5 Years: 13%
3 Years: 15%
Last Year: 15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
274 274 274 274 274 274 275 275 275 289 289 289
Reserves 10,373 12,550 14,955 16,908 18,767 21,671 24,117 26,107 28,088 38,755 43,886 50,147
5,541 5,891 7,342 7,332 9,829 10,616 8,474 19,480 25,337 23,019 21,719 11,299
5,439 6,181 7,010 7,671 9,183 8,631 9,343 11,280 22,826 17,151 20,282 22,077
Total Liabilities 21,626 24,896 29,582 32,185 38,053 41,193 42,209 57,141 76,525 79,214 86,176 83,811
12,775 13,314 15,050 18,100 23,343 25,309 25,904 39,715 56,645 57,151 55,412 55,488
CWIP 760 1,940 3,601 2,186 2,250 1,469 921 1,511 1,153 920 1,687 4,785
Investments 3,514 3,547 4,709 4,862 4,500 5,095 6,691 5,447 2,921 5,929 12,178 6,336
4,577 6,095 6,222 7,037 7,961 9,319 8,693 10,468 15,806 15,215 16,900 17,203
Total Assets 21,626 24,896 29,582 32,185 38,053 41,193 42,209 57,141 76,525 79,214 86,176 83,811

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
1,993 3,427 3,618 3,455 4,190 4,526 5,005 3,888 5,956 8,972 12,500 9,283
-2,168 -3,050 -4,362 -2,342 -2,144 -3,673 -2,501 1,866 1,165 -4,192 -8,856 2,257
253 -353 715 -949 -2,110 -844 -2,535 -5,735 -6,757 -5,076 -4,356 -12,498
Net Cash Flow 79 24 -30 164 -63 8 -31 18 364 -295 -712 -958

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 22 21 24 29 26 28 25 26 25 20 21 21
Inventory Days 371 279 284 251 266 203 195 226 214 234 207 256
Days Payable 324 281 258 252 154 142 150 165 165 188 234 269
Cash Conversion Cycle 69 20 50 28 138 89 70 87 74 66 -6 9
Working Capital Days -33 -5 -15 -2 -42 -47 -23 -17 -16 -25 -26 -21
ROCE % 18% 19% 19% 13% 12% 13% 14% 12% 11% 12% 15% 15%

Shareholding Pattern

Numbers in percentages

9 recently
Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
61.68 60.19 60.04 60.04 59.91 59.97 59.96 59.96 59.96 59.96 59.96 59.96
17.86 17.60 16.48 16.10 15.30 16.80 17.28 16.58 16.48 15.74 14.03 13.12
11.93 12.99 14.15 14.59 15.38 14.10 13.74 14.39 14.51 15.15 16.39 18.16
0.07 0.07 0.07 0.07 0.08 0.08 0.08 0.05 0.05 0.05 0.05 0.05
8.38 9.08 9.18 9.12 9.26 8.98 8.87 8.95 8.91 9.00 9.48 8.62
0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.09 0.10 0.09 0.09

Documents

Concalls