UltraTech Cement - June 2013
UltraTech Cement saw its shares lose seven per cent of their value in the first week of June as the seasonal monsoon rains arrived, which are due to last until September. This will do little to cheer up India’s cement producers who have already seen a flat first quarter with no growth in sales and little prospect of demand picking up. UltraTech was one of a number of producers also reporting flat EBITDA/t during 1Q13. Volumes declined by one per cent YoY, significantly below the government’s recently revised 7.3 per cent industry production growth, while operational costs continue to rise, up 9.8 per cent YoY.
