External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<div><ul><li>EBITDA 5% above estimates; Cement prices increase in Apr’22 - <span style="font-size: var(--content-font-size);">UltraTech (UTCEM)’s operating performance was marginally ahead of our estimates led by higher volumes/lower opex.</span></li></ul><div><ul><li>Cost inflation impacts profitability; EBITDA/t fell 16% YoY - <span style="font-size: var(--content-font-size);">Consolidated revenue/EBITDA/adjusted PAT stood at INR157.7b/INR30.7b/ INR14.8b (+9%/-17%/-19% YoY; +1%/+5%/+2% v/s our estimate).</span></li></ul><div><div><div><ul><li>Highlights from the management commentary - <span style="font-size: var(--content-font-size);">Cement demand should improve, led by demand from Infrastructure, rural India, as well as an improvement in urban Real Estate.</span></li></ul></div></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

EBITDA 5% above estimates; Cement prices increase in Apr’22 - UltraTech (UTCEM)’s operating performance was marginally ahead of our estimates led by higher volumes/lower opex.Cost inflation impacts profitability; EBITDA/t fell 16% YoY - Consolidated revenue/EBITDA/adjusted PAT stood at INR157.7b/INR30.7b/ INR14.8b (+9%/-17%/-19% YoY; +1%/+5%/+2% v/s our estimate).Highlights from the management commentary - Cement demand should improve, led by demand from Infrastructure, rural India, as well as an improvement in urban Real Estate.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

UltraTech Cement - Cost Inflation Guidance Lower than Estimates

Ultratech Cement

UltraTech Cement - Cost Inflation Guidance Lower than Estimates