UltraTech Cement Shares Surge 2.9% on Capacity Expansion

04 Dec 2024 CW Team

Shares of UltraTech Cement rose by 2.9 percent to reach eleven thousand five hundred twenty-five rupees in intraday trade after the company announced an increase in production capacity. UltraTech revealed that its Kukurdih unit in Chhattisgarh expanded its output from 2.7 million tonnes per annum (mtpa) to 3.3 mtpa, as part of its ongoing debottlenecking initiatives.

With this expansion, UltraTech Cement's total production capacity, including overseas operations, has reached 156.66 million tonnes per annum, reaffirming its status as India’s largest cement manufacturer.

Despite the positive stock movement, the company reported a 36 percent year-on-year drop in net profit for the second quarter of the financial year 2024-25 (Q2FY25), with earnings declining to eight thousand two hundred million rupees. Revenue fell by 2.4 percent to one hundred fifty-six billion rupees during the same period. Sequentially, net profit was down 52 percent, and revenue fell 13 percent.

UltraTech's stock has gained 27 percent over the past year, outperforming the BSE Sensex’s 18 percent growth during the same period.

UltraTech Cement has a market capitalization of three trillion three hundred twenty billion rupees, with a price-to-earnings ratio of 50.10 and earnings per share of two hundred twenty-three rupees.

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