Strong Show By Ultratech
Subdued market sentiments, further hurt by ACC’s dismal performance, got a boost after UltraTech posted its June quarter numbers. Despite weak demand and subdued realisations across the country during the June quarter, UltraTech’s profitability was much better. Both companies are pan-India players but UltraTech’s Ebitda (earnings before, interest, tax, depreciation and amortisation) per tonne of close to Rs 900 was more than double ACC’s Rs 442. Not surprisingly, the stock gained 4.3 per cent to close at Rs 3,354.
UltraTech’s cement volumes at 12.14 million tonnes (mt) came almost similar to the 12.18 mt seen in the March’15 quarter, though 3.8 per cent more as compared to the year-ago period.