# UltraTech Cement Q2 profit jumps 21%, brokerages split on target 2026-10-21T08:32:30+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 5 independent outlets UltraTech Cement shares rose up to 3% on Wednesday, 21 October, after the company reported a 21% year-on-year rise in consolidated net profit to ₹1,494 crore for the July-September 2026 quarter. Revenue from operations increased 19% to ₹23,295 crore. Domestic grey-cement sales volumes grew 13.8% to 35.94 million tonnes. Several brokerages revised their price targets. Jefferies maintained 'Buy' and raised its target to ₹14,380, calling a sustained cement price recovery the key catalyst. Nomura also kept 'Buy' but cut its target to ₹13,700, flagging higher fuel costs. Citi maintained 'Buy' with a reduced target of ₹13,200. Management indicated the next phase of organic expansion will be announced soon and reiterated its ₹1,400 EBITDA per tonne target by the end of FY2028. ## Indian Opinion Analysis All four sources on UltraTech Cement deliver essentially identical coverage: each leads with the same Q2 profit and revenue figures, reports the same brokerages with their target prices (Jefferies ₹14,380, Nomura ₹13,700, Citi ₹13,200) and cites management maintaining the ₹1,400 EBITDA per tonne target for FY2028. Business Standard adds the day's intraday high (₹10,959), while CNBC-TV18 lists five call takeaways including a ₹1,600 to 1,800 crore revenue target for the wires business by FY2030, and Economic Times carries Nomura's longer demand outlook. No outlet underplays any fact the others name. The uniform straight reporting means the brokerages' divided view on fuel-cost pressure versus pricing recovery is the only tension on the table. The concrete next step is the management's stated announcement of the next organic expansion phase, which analysts expect to drive further volume market share gains from the current 31 to 32%. ## Coverage Coverage: 5 sources, 4 neutral - business-standard.com (neutral report) Straight wire-style report of results and brokerages - economictimes.indiatimes.com (neutral report) Straight wire-style report of results and brokerages - cnbctv18.com (neutral report) Straight wire-style report with five call takeaways - ndtvprofit.com (neutral report) Brief in-line summary of analyst views - livemint.com This brief was synthesised by AI from the 5 sources linked above, so one read covers every framing they carry. Update, 21 October 2026: this story now draws on 5 sources. Last updated 2026-10-21T08:54:10+00:00. Tags: Citi, Ebitda, Jefferies, Nomura, Q2FY27, UltraTech Cement Canonical: https://indianopinion.org/ultratech-cement-posts-21-profit-jump-brokerages-revise-targets/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/ultratech-cement-posts-21-profit-jump-brokerages-revise-targets/#story-in-brief How this brief was made: an AI model read the reports linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. Stance labels are editorial classifications of how each outlet framed this story, assigned by the same model, not ratings of the outlets. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/