Buy UltraTech Cement, target price Rs 9000: ICICI Securities

ICICI Securities has buy call on UltraTech Cement with a target price of Rs 9000. The current market price of UltraTech Cement is Rs 7370.

UltraTech Cement, incorporated in the year 2000, is a Large Cap company (having a market cap of Rs 211541.41 Crore) operating in Cement sector.

UltraTech Cement key Products/Revenue Segments include Portland/Possolana Cement, Other Operating Revenue, Scrap, Sale of services, Lease Rentals for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 14038.95 Crore, down -8.08 % from last quarter Total Income of Rs 15272.70 Crore and up 15.48 % from last year same quarter Total Income of Rs 12156.83 Crore. Company has reported net profit after tax of Rs 760.19 Crore in latest quarter.

The company’s top management includes Mr.Kumar Mangalam Birla, Mr.S B Mathur, Mrs.Sukanya Kripalu, Mr.Arun Adhikari, Mr.Sunil Duggal, Mrs.Rajashree Birla, Mr.Atul Daga, Mr.K C Jhanwar, Mr.K K Maheshwari, Mrs.Alka Bharucha. Company has Khimji Kunverji & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 29 Crore shares outstanding.

Promoter/FII Holdings
Promoters held 59.96 per cent stake in the company as of 31-Dec-2022, while FIIs owned 13.12 per cent, DIIs 17.27 per cent.