UltraTech Cement hits record high; Q1 sales rise 19.64% to 29.96 MT

At 2 pm, the shares of UltraTech Cement were trading at Rs 8435.00, up by 1.71% from its previous closing of Rs 8292.85 on the BSE.

UltraTech Cement’s consolidated sales increased 19.64 percent to 29.96 million tonne (MT) in the first quarter ended June 2023. The company produced 25.04 MT of cement in the April-June quarter a year ago. Its total sales volume in the domestic market rose 19.87 percent to 29.01 MT during the quarter under review. It was 24.20 MT in Q1 FY23.

Its grey cement production in the domestic market was 28.60 MT in the June quarter of FY24, a 20 percent growth, while its white cement production was 0.41 MT, up 11 percent. UltraTech’s overseas production, mainly grey cement, was 1.04 MT in Q1FY24, up 10.63 percent.

The company registered a capacity utilisation of 90 percent for the quarter. UltraTech has a consolidated capacity of 135.55 million tonnes per annum (MTPA) of grey cement. It has 23 integrated manufacturing units, 29 grinding units, one clinkerisation unit and eight bulk packaging terminals. It is the third largest cement producer in the world, excluding China.

Incorporated in 2000, UltraTech Cement is the largest manufacturer of grey cement, Ready Mix Concrete (RMC) and white cement in India. It commenced its cement manufacturing operations since 2004 post acquisition of the L&T Cement Ltd (a 100% subsidiary of Larsen & Toubro Ltd) by Grasim Industries Ltd, the flagship company of the Aditya Birla group. UltraTech is the market leader in Indian cement industry with 132.35 MPTA grey cement capacity as on March 31, 2023 with pan-India presence.

Today, the stock opened at Rs 8380.00 and has touched a high and low of Rs 8499.70 and Rs 8373.80 respectively.

The BSE group ‘A’ stock of face value Rs 10 has touched a 52 week high of Rs 8499.70 and Rs 5486.00, respectively.

Last one week high and low of the scrip stood at Rs 8499.70 and Rs 8070.00 respectively. The current market cap of the company is Rs 243398.67 crore.

The promoters holding in the company stood at 59.96%, while Institutions and Non-Institutions held 31.76% and 7.77% respectively.