Ultratech Cement s stock fell over 1% to Rs 9,906 despite highest-ever net profit in Q4. BofA recommends buying at Rs 10,000 target, Nuvama suggests hold at Rs 9,121 target, and Sharekhan suggests buys at Rs 11,300 target. Q4 profit of Rs 1,777 crore is 68% higher YoY, while revenue rose 8% YoY to Rs 16,740 crore.
In Q3FY23, the company s domestic grey cement sales volume rose 13% YoY and 12% QoQ, respectively. Energy and raw material costs were up 33% and 13% YoY, while they remained flat on a sequential basis. Also, the company achieved capacity utilisation of 83% as against 75% during Q3FY22.