Construction Industry News
UltraTech Cement reported very strong first-quarter numbers for 2011-12. Cement as a sector has been hit from multiple points. While a weak demand environment is the biggest dampener, rising input costs and high capacity additions have also played their part in keeping prices under check.
So, UltraTech surprised the Street with higher-than-expected profit-after-tax figures of Rs 683 crore at the end of the first quarter of 2011-12 and an Ebitda/t of Rs 1205 (up 27 per cent quarter on quarter), significantly higher than the estimate of Rs 966/t. Ebitda margins expanded 450 basis points sequentially to 27.2 per cent. According to Emkay Global, this is the highest Ebitda/t recorded by the company in eight quarters.
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