Street View: Analysts upbeat on India's UltraTech Cement even as quarterly margins underwhelm

Ultratech Cement

20/10/2025 06:02

** UltraTech Cement ULTC.NS posts 75% jump in PAT Y/Y, announces nearly 103 billion rupees ($1.17 billion) capex towards increasing capacity

** Shares fall nearly 1% to 12,260 rupees as overhead costs rise 25% Q/Q, hurting margins

BROKERAGES CHEER CAPACITY EXPANSION PLANS

** Emkay ("buy", PT at 14,000 rupees) says profit missed estimates; positive on continued momentum towards growing capacity, turnaround in acquired entities, commitment to deliver operational cost realisations

** Centrum ("buy", PT at 13,678 rupees) says quarter's cost pressure is one-off, expects demand recovery in H2FY26

** Adds, robust capacity expansion pipeline should support

volume growth

** Jefferies ("buy", PT at 14,700 rupees) sees stable pricing, GST cuts to boost premium cement demand

** Systematix ("buy", PT at 14,481 rupees) upbeat on growth; notes healthy volumes, high capacity utilisation, expansion plan

($1 = 87.8625 Indian rupees)

 (Reporting by Komal Salecha)

 ((Komal@thomsonreuters.com;))