Equirus retains a ‘Long’ call on UltraTech Cement with a target price of ₹13,490, reiterating it as their top pick in the cement sector. The brokerage remains bullish on UltraTech’s robust cash flow generation, good leverage position, and sustained focus on cost control. Equirus also commends the company’s aggressive and timely capacity additions as a key driver for long-term growth.
UltraTech Q3FY25 Performance
UltraTech Cement reported a 16% YoY increase in revenue to ₹17,810 crore in Q3FY25, supported by strong volume growth of 14%. EBITDA stood at ₹2,800 crore, while the EBITDA margin contracted to 15.7% due to higher operational costs. Net profit for the quarter declined 35% YoY to ₹1,058 crore. Despite margin pressures, UltraTech’s focus on capacity expansion and cost efficiency supports its long-term growth outlook.
