Ultracemco / Q4-FY24

Read the quarter in context.

A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.

Research layer active

ConCallIQ research layer

Signal, with the source still visible.

Use the controls below to narrow the view, then follow the evidence into the next layer of context.

Positive2024-04-30Back to ULTRACEMCO

Revenue

₹20,419 Cr

verified against source

Revenue YoY

—

reported change

EBITDA

Pending

latest reported figure

Source

screener in

record provenance

Actual signal trajectory

Where this quarter sits.

source records only
Revenue (₹ Cr)PositiveWatchNegative
12 actual records
Actual quarterly Revenue (₹ Cr) trajectoryReported values plotted by quarter. Hover or focus a point for its quarter, value, and source sentiment.Q1 FY24: 17,737 · Positive source sentiment · 2023-07-20Q1 FY24Q2 FY24: 16,012 · Positive source sentiment · 2023-10-19Q2 FY24Q3 FY24: 16,740 · Watch source sentiment · 2024-01-19Q3 FY24Q4 FY24: 20,419 · Positive source sentiment · 2024-04-30Q4 FY24Q1 FY25: 18,819 · Watch source sentiment · 2024-07-19Q1 FY25Q2 FY25: 16,294 · Negative source sentiment · 2024-10-21Q2 FY25Q3 FY25: 17,779 · Positive source sentiment · 2025-01-24Q3 FY25Q4 FY25: 23,063 · Positive source sentiment · 2025-04-28Q4 FY25Q1 FY26: 21,275 · Positive source sentiment · 2025-07-15Q1 FY26Q2 FY26: 19,607 · Positive source sentiment · 2025-10-25Q2 FY26Q3 FY26: 21,830 · Positive source sentiment · 2026-01-24Q3 FY26Q4 FY26: 25,799 · Positive source sentiment · 2026-04-15Q4 FY2625,79916,012
Values are taken from the available verified source records; sentiment color is a separate source-read indicator.

Quarter read

What the record says.

UltraTech delivered 13% volume growth in FY24, with Q4 volumes up 30% QoQ and 11% YoY, driven by strong demand across segments. Capacity utilization reached 85% for the year and 98% in Q4. Management expects industry demand to moderate to high single digits in FY25 but remains confident of outperforming. Cost guidance includes a INR 200-300 per ton reduction over three years via green power, blending ratio improvement, and operating leverage. Fuel costs are expected to soften gradually, with material improvement from Q4 FY25. Risks include potential demand slowdown due to elections and monsoons, and geopolitical fuel price volatility.

Colored figures show movement against the previous available record.

Guidance to track

  • Target to reduce operating costs by INR 200-300 per ton by FY27 through green power, blending, alternate fuels, and operating leverage.
  • Fuel cost expected to decline to $130/ton over the next 3-4 quarters as high-price contracts roll off.
  • UltraTech's total capacity (including UAE) to reach 199.6 million tons by end of FY27, with 15-17 million tons added in FY25.
  • Target to reduce net debt to INR 1,500-2,000 crore (including Kesoram) by end of FY25, with standalone net cash.

Risks flagged

  • Potential front-loading of demand ahead of elections and monsoons could lead to volume and price weakness in coming months.
  • Fuel costs remain unpredictable due to geopolitical events (e.g., Baltimore bridge collapse, Iran tensions), which could delay cost reduction.
  • With 40 million tons of new capacity added in FY24, pricing environment could remain competitive, impacting realizations.
  • Kesoram merger expected to close by March 2025, but regulatory approvals and NCLT process could face delays.

Key quotes

  • We have not got tired of growing. We have not yet exhausted all our resources to keep doing better.
  • We expect the pricing environment to be stable or improve only, not going down any further.
  • Our target is to inch towards zero net cash on the balance sheet by the end of 2025.

Research modules

Go one layer deeper.

TranscriptRisk registerPromise ledgerClaim ledgerReality check