UltraTech Cement Ltd

About [ edit ]

UltraTech Cement is engaged in the manufacture and sale of Cement and Cement related products.(Source : 202003-01 Annual Report Page No:154)

  • Market Cap 185,471 Cr.
  • Current Price 6,423
  • High / Low 6,589 / 2,910
  • Stock P/E 25.6
  • Book Value 1,412
  • Dividend Yield 0.20 %
  • ROCE 12.4 %
  • ROE 17.0 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 24.30% CAGR over last 5 years

Cons

  • Stock is trading at 4.55 times its book value
  • Tax rate seems low
  • Company has a low return on equity of 12.16% for last 3 years.

Peer comparison

Sector: Cement Industry: Cement - North India

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
9,290 8,900 9,249 10,444 12,371 11,420 9,620 10,439 10,745 7,634 10,387 12,254
7,510 7,210 7,828 8,869 9,830 8,470 7,703 8,461 8,303 5,559 7,689 9,160
Operating Profit 1,781 1,690 1,421 1,575 2,541 2,949 1,918 1,978 2,441 2,074 2,698 3,094
OPM % 19% 19% 15% 15% 21% 26% 20% 19% 23% 27% 26% 25%
Other Income -204 73 143 113 150 135 148 169 198 121 214 268
Interest 349 349 416 478 505 503 507 472 505 393 358 356
Depreciation 501 507 624 638 641 688 668 678 672 646 677 674
Profit before tax 727 908 524 571 1,546 1,893 890 997 1,462 1,157 1,876 2,332
Tax % 39% 30% 32% 34% 30% 32% 35% 29% -122% 31% 30% 32%
Net Profit 446 632 357 377 1,084 1,281 579 712 3,243 797 1,309 1,584
EPS in Rs 16.24 23.02 13.00 13.72 39.47 46.64 21.08 24.66 112.35 27.63 45.36 54.89
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
6,507 7,106 13,646 18,551 20,514 20,730 23,306 25,153 25,375 30,979 41,462 41,833 41,020
4,792 5,122 10,950 14,357 15,674 16,695 18,881 20,252 20,162 24,948 34,229 32,551 30,712
Operating Profit 1,716 1,984 2,696 4,194 4,839 4,035 4,425 4,901 5,212 6,030 7,233 9,282 10,308
OPM % 26% 28% 20% 23% 24% 19% 19% 19% 21% 19% 17% 22% 25%
Other Income 102 121 154 371 304 322 350 464 648 357 464 648 801
Interest 126 118 292 256 252 361 587 566 640 1,238 1,778 1,986 1,612
Depreciation 324 390 813 963 1,023 1,139 1,203 1,377 1,348 1,848 2,451 2,702 2,670
Profit before tax 1,368 1,598 1,745 3,345 3,867 2,858 2,986 3,421 3,872 3,301 3,468 5,242 6,827
Tax % 28% 31% 22% 28% 30% 23% 30% 28% 30% 33% 31% -11%
Net Profit 978 1,095 1,367 2,403 2,678 2,206 2,098 2,478 2,715 2,222 2,404 5,815 6,934
EPS in Rs 49.90 87.69 97.66 80.44 76.47 90.30 98.90 80.92 87.51 201.47 240.23
Dividend Payout % 6% 7% 12% 9% 9% 11% 12% 11% 10% 13% 13% 6%
Compounded Sales Growth
10 Years:19%
5 Years:12%
3 Years:18%
TTM:-6%
Compounded Profit Growth
10 Years:18%
5 Years:24%
3 Years:29%
TTM:98%
Stock Price CAGR
10 Years:20%
5 Years:17%
3 Years:16%
1 Year:55%
Return on Equity
10 Years:13%
5 Years:12%
3 Years:12%
Last Year:17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
124 124 274 274 274 274 274 274 275 275 275 289 289
Reserves 3,485 4,493 10,373 12,550 14,955 16,908 18,767 21,671 24,117 26,107 28,088 38,827 40,461
Borrowings 2,143 1,607 5,541 5,891 7,342 7,332 9,829 10,616 8,474 19,480 25,337 22,898 20,848
1,997 2,150 5,439 6,181 7,010 7,671 9,183 8,631 9,343 11,280 22,826 17,318 19,710
Total Liabilities 7,750 8,375 21,626 24,896 29,582 32,185 38,053 41,193 42,209 57,141 76,525 79,331 81,308
4,662 4,964 12,775 13,314 15,050 18,100 23,343 25,309 25,904 39,715 56,645 56,982 55,913
CWIP 678 260 760 1,940 3,601 2,186 2,250 1,469 921 1,511 1,153 920 1,079
Investments 1,009 1,637 3,514 3,547 4,709 4,862 4,500 5,095 6,691 5,447 2,921 5,929 9,865
1,400 1,513 4,577 6,095 6,222 7,037 7,961 9,319 8,693 10,468 15,806 15,500 14,452
Total Assets 7,750 8,375 21,626 24,896 29,582 32,185 38,053 41,193 42,209 57,141 76,525 79,331 81,308

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
1,452 1,590 1,993 3,427 3,618 3,455 4,190 4,526 5,005 3,888 5,956 8,902
-1,653 -843 -2,168 -3,050 -4,362 -2,342 -2,144 -3,673 -2,501 1,866 1,165 -4,206
192 -740 253 -353 715 -949 -2,110 -844 -2,535 -5,735 -6,757 -4,991
Net Cash Flow -10 7 79 24 -30 164 -63 8 -31 18 364 -295

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 29% 29% 18% 19% 19% 13% 12% 13% 14% 12% 11% 12%
Debtor Days 11 11 22 21 24 29 26 28 25 26 25 20
Inventory Turnover 3.76 3.33 3.66 3.50 3.34 3.23 3.32 3.33 3.61 4.10 4.46 3.58

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
61.98 61.98 61.69 61.69 61.69 61.68 61.68 60.19 60.04 60.04 59.91 59.97
22.27 21.19 20.89 20.38 20.00 18.59 17.86 17.60 16.48 16.10 15.30 16.80
5.78 6.76 7.21 7.58 7.79 8.68 11.93 12.99 14.15 14.59 15.38 14.10
0.03 0.03 0.03 0.04 0.04 0.04 0.07 0.07 0.07 0.07 0.08 0.08
9.94 10.04 10.17 10.24 10.41 10.93 8.38 9.08 9.18 9.12 9.26 8.98
0.00 0.00 0.00 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07

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