Best Cement Manufacturer To Suggest Dividend, TP Of Rs 12,000 For This Stock: Motilal Oswal
The large-cap cement industry business Ultratech Cement Ltd. sent notice of its impending board of directors meeting to approve the standalone and consolidated audited financial statements for the year ending March 31, 2024, as well as to suggest a dividend, via a regulatory filing dated March 1, 2024. The shares of Ultratech Cement Ltd were last traded at Rs 10,096.85 on the BSE, representing a 0.35% intraday decline. With a target price of Rs 12,000, brokerage house Motilal Oswal has advised buying Ultratech Cement shares on a buy call. Purchasing Ultratech Cement shares at the present market price of Rs 10,096.85 per would probably provide an 18.85% return. Shares of Ultratech Cement gave investors a return of 12% over the previous three months and soared by 58% during the previous two. View the information below:
High-Tech Cement Taking Financial Outcomes Into Account, Dividend: According to the company’s March 1, 2024 regulatory filing, “We write to advise that the Board of Directors of the Company will meet on Monday, April 29, 2024, among other things, to:
(i) Examine and accept the company’s standalone and combined audited financial results for the fiscal year that ends on March 31, 2024;
(ii) suggest any dividends that should be paid out on the company’s equity shares for the year that is ending.
Performance and Return of Ultratech Cement Shares: The shares of Ultratech Cement have traded at a 52-week high of Rs 10,522.65 and a 52-week low of Rs 6991.35 on the BSE. The market capitalization of the firm is Rs 2,91,483.61 crore. Ultratech Cement’s stock fell 3.48% year-to-date (YTD), increased 22% for the previous six months, soared 39% over the previous year, and provided a 58% return over the previous two years. In the previous five years, Ultratech Cement’s shares increased 160%.
Financials of Ultratech Cement: The cement business reported a consolidated profit of Rs 1777 crore for the quarter that ended, up 68% YoY from RRs 1058 crore in the same quarter the previous year. It turned out to be Ultratech Cement’s greatest quarterly profit ever. Consolidated net sales, which were Rs 15,299 crore in the same quarter of the previous year, increased 8% YoY to Rs 16,487 crore for the December 2023 quarter. Domestic sales of grey cement for the firm increased 1% QoQ and 5% YoY, respectively. The cement manufacturer reported an operational EBITda per mille for its operations in India of Rs 1.208, up 27% sequentially and 34% year over year.
About: UltraTech is one of India’s biggest producers of white cement and the country’s biggest producer of ready-mix concrete (RMC) and grey cement. The UltraTech Building goods company is a center of innovation that provides a range of goods with scientific engineering to meet the needs of modern buildings.
