UltraTech has been consistently generating free cash flow, which has helped it improve its leverage profile
PRO Only Highlights
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
UltraTech Cement, India’s largest cement manufacturer, has announced better-than-expected June-quarter earnings. The company had some hiccups during the second wave, but seems to have turned the corner as markets reopened. Key Result Highlights Revenues from India operations came in at Rs 11,450 crore. The top line was led by a 47 per cent jump in cement volumes together with a 6 per cent increase in pricing. The operating margins held firm despite inflationary cost pressures. Operating income was Rs 3,257 crore,…
