India's Ultratech Cement rises on quarterly profit beat

Ultratech Cement

28/04/2026 05:24

** Shares of Ultratech Cement ULTC.NS up 2.26% to 12,282 rupees apiece; last down 1.03% to 11,886 rupees

** India's largest cement maker beat quarterly profit estimates; consol net profit rises 20.2% to 29.83 billion rupees ($315.80 million)

** Investec ("Buy"; PT: 14,868 rupees) says quarterly profit beat aided by pricing, adds incremental expansions to support growth, while keeping capex intensity low

** Emkay Global ("Buy"; PT: 13,000 rupees) says operating costs flat YoY despite 50 rupees/tonne impact from U.S.-Iran conflict due to swift ramp-up of acquired assets

** CLSA ("High Conviction Outperform"; raises PT to 14,000 rupees) says says sustained cost efficiency positions company to absorb Middle East conflict headwinds

** Expects mid-to-high teen EBITDA growth over medium term from capacity-led volume growth and margin improvement

** Stock rated as "Buy" on average by 38 analysts; median PT at 14,045 rupees per data compiled by LSEG

** YTD, stock up 1.6%

($1 = 94.4600 Indian rupees)

(Reporting by Mridula Kumar in Bengaluru)

((Mridula.Kumar@thomsonreuters.com;))