Now Reading: UltraTech Cement Q2 profit jumps 21%, brokerages split on target
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UltraTech Cement Q2 profit jumps 21%, brokerages split on target
UltraTech Cement Q2 profit jumps 21%, brokerages split on target
The Story in Brief
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: 5 sources, 4 neutral
Sources (5): business-standard.com (neutral report), economictimes.indiatimes.com (neutral report), cnbctv18.com (neutral report), ndtvprofit.com (neutral report), livemint.com
This brief was synthesised by AI from the 5 sources linked above, so one read covers every framing they carry. Methodology and corrections.
Update, 21 October 2026: this story now draws on 5 sources.
