Companies Economy Live April 28, 2025 0 Comments

UltraTech Cement Q4 results preview: Flattish profit growth expected

UltraTech Cement, an Aditya Birla Group company, is expected to post 3 per cent growth in the March quarter to about ₹2,399 crore, driven largely by volume growth and stable margins.

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) margin at about 19.5 per cent, down from about 20 per cent in Q4FY24, according to various research reports.

The company will announce its financial performance on Monday.

While most brokerages—except Axis Securities—expect a y-o-y decline in margins, they anticipate quarter-on-quarter (QoQ) improvements across cement companies, including UltraTech.

In Q3FY25, Ultratech reported an EBITDA margin of 17 per cent.

Yes Securities projects UltraTech’s EBITDA/tonne at ₹1,143 in Q4FY25 – up from ₹953 in Q3, but below ₹1,173 in Q4FY24. The increase is attributed to marginally higher prices and improved cost efficiency.

The country’s largest cement maker will benefit from higher capacity utilisation and a modest uptick in realisations, although cost pressures and regional pricing weakness may cap overall profitability.

Volumes are expected to rise owing to acquisitions and a broad-based demand recovery, while cost control measures and lower input prices should support profitability on a sequential

Kotak Securities expects the company’s revenue grew 13per cent YoY to ₹19,805 crore, with EBITDA rising 15 y-o-y . Adjusted PAT is seen increasing 16 per cent y-o-y , it said.

Motilal Oswal Securities expects revenue to grow 13 per cent y-o-y , aided by inorganic growth. Like-to-like volume growth is estimated at 8 per cent YoY, while consolidated EBITDA per tonne is pegged at Rs 1,104.

Nuvama Research expects revenues to rise 11 per cent and EBITDA to grow 2 per cent y-o-y . UltraTech’s grey cement volumes are projected to rise 9 per cent y-o-y, with realisations improving 1.5 per cent QoQ. However, due to cost pressures and high base impact, EBITDA/tonne may fall to ₹1,030 from ₹1,173 in the year-ago period.