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Q2 2014-15 Quarterly Analys

S. No. Company Information


1 Company Name UltraTech Cement Ltd.
2 Industry Cement
3 Financial Year Ending 31st March, 2015
4 Designation of the quarter Q2
5 Dividend Record Date 23/04/14
6 Dividend Payment Date 24/07/14
7 NSE/BSE Ticker ULTRACEMCO/532538
Maharashtra
8 Registered Address 400093
9 Registrar Name Sharepro Services (India) Pvt.Ltd.
10 Face Value of Shares 10
11 No of Outstanding Shares 0.00
12 Market Capitalization In crore Rs. 80773.75
13 Promoters Holding 62.80
14 Public Share Holding 37.20
15 Mutual Fund Net Buyer Seller

S. No. Position Details


1 Portfolio Name SIAPL
2 Purchase date of Shares
3 Purchase Price of Shares
4 No of Shares
5 Unrealized Profit and Loss

S. No. Performance
Net Sales of the company in Q2-2014 is Rs. 5821.48 compared to the previous quarter Rs. 6247
1 Rs. 5506.38
Gross profit of the company in Q2-2014 is Rs. 4928.99 compared to the previous quarter Rs. 53
2 quarters Rs. 4701.93
Net profit of the company in Q2-2014 is Rs. 414.24 compared to the previous quarter Rs. 626.9
3 Rs. 502.60
P/E in Q2-2014 is 173.85 compared to the previous year 113.71 with an CAGR of 52.89%. In the
4

EPS was 15.10 in Q2-2014 compared to the previous year 22.86 with an average of 18.32
5

Management Efficiency
S. No.
Board of Directors
Mr. Kumar Mangalam Birla is the No
Limited. He chairs the boards of all
Novelis, Columbian Chemicals, Adit
and Alexandria Carbon Black among
Mr. Kumar Mangalam Birla (Non-Executive Chairman of Aditya Birla Nuvo, UltraTech, Idea, A
1 the Board ) took over as Chairman of the Group
father. As Chairman, Mr. Birla has ta
trajectory. He holds several position
commerce graduate from the Mum
Master of Business Administration f
Mr. O. P. Puranmalka is the Managin
He was a member of Corporate Soc

2 Puranmalka, O. (Managing Director, Whole Time Director)

S. No. Financial Strength


1 The companies cash and bank balance in Q2-2014 Rs. 296.85 compared to the previous Q4-20
2 Reserves and surplus in Q2-2014 was Rs 17991.27 compared to the previous Q4-2013 Rs. 1690

S. No. Financial Risk


1 Current ratio of the company is 1.09 compared to the previous quarter 1.45
2 Quick ratio was 0.80 compared to the previous quarter 1.06
3 The interest coverage ratio was 6.81 compared to the previous quarter of 10.44

S. No. Analyst Opinion


1 Relative Graham Number for Current Quarter is 72.4184215144
2 PEG Ratio for Current Quarter is 3.40
3 The ORR is 2.49
4 The RSPE of the stock is 32.4917075103
5 The 5 year Beta value of the stock is

Epilogue: The company's financial performance have been good compared to the previous quarter with in
10.24% and 31.10%. EPS of the company have improved compared to the previous quarter with good ave
level. Interest coverage ratio of the company is impressive compared to the previous quarter which infere
the required level which spells out it may go bankrupt in future. Sloan ratio of the company is between th
accruals. ORR of the company is 2.57. RGN and PEG ratios indicate the stock is Overvalued. I would sugge
-15 Quarterly Analysis

Company Information
Ltd.

2538

(India) Pvt.Ltd.

Position Details

Performance
to the previous quarter Rs. 6247.33 with an CAGR of -6.82%. In the average of last 5 quarters

ed to the previous quarter Rs. 5337.86 with an CAGR of -7.66%. In the average of last 5

to the previous quarter Rs. 626.92 with an CAGR of -33.92%. In the average of last 5 quarters

1 with an CAGR of 52.89%. In the average of last 5 quarters 135.56

6 with an average of 18.32

Management Efficiency
Board of Directors
Kumar Mangalam Birla is the Non-Executive Chairman of the Board of Ultratech Cement
ited. He chairs the boards of all of the Group's companies in India and globally, including
velis, Columbian Chemicals, Aditya Birla Minerals, Aditya Birla Chemicals, Thai Carbon Black
d Alexandria Carbon Black among others. In India, he chairs the Boards of Hindalco, Grasim,
tya Birla Nuvo, UltraTech, Idea, Aditya Birla Financial Services and Aditya Birla Retail. Mr. Birla
k over as Chairman of the Group in 1995, at the age of 28, after the untimely demise of his
her. As Chairman, Mr. Birla has taken the Aditya Birla Group to an altogether higher growth
ectory. He holds several positions on various regulatory and professional boards. He is a
mmerce graduate from the Mumbai University. He is a chartered accountant. He earned a
ster of Business Administration from the London Business School.
O. P. Puranmalka is the Managing Director, Whole Time Director of Ultratech Cement Limited.
was a member of Corporate Social Responsibility Committee.

Financial Strength
compared to the previous Q4-2013 Rs. 348.49
o the previous Q4-2013 Rs. 16907.66

Financial Risk
quarter 1.45

quarter of 10.44

Analyst Opinion
4184215144
0
9
4917075103

ed to the previous quarter with increase in Net Sales, Gross profit and Net Profit by 16.31%,
e previous quarter with good average. Liquidity ratios of the company is below the required
he previous quarter which inferes its ability to pay its debts. Z Score of the company is below
tio of the company is between the required threshold which infers the company is good at its
ock is Overvalued. I would suggest to hold the stock till next quarter.
Balance Sheet
S. No Particulars Q2-2014
1 Share Capital
2 Share Option Outstanding
3 Share Appliction Money pending allotment
4 Optional Convertible Warrants
5 Reserves and Surplus
Share Holders Fund -
Minority Interest
Non Current Liabilities
6 Long-term borrowings
7 Deferred tax liabilities (Net)
8 Other Long term liabilities
9 Long-term provisions
Total Non Current Liabilities -
Current Liabilities
10 Short-term borrowings
11 Trade payables
12 other current Liabilities
13 Short-term provisions
Total Current Liabilities -
Total liabilities -
Non Current Assets
14 Fixed Assets
15 Non-current investments
16 Deferred tax Assets (Net)
17 Long-term loans and advances
18 Other non-current assets
Total Non current Assets -
Current Assets
19 Current investments
20 Inventories
21 Trade receivables
22 Cash and bank balances
23 Short-term loans and advances
24 Other current assets
Total current Assets -
Total Assets -

Profit and Loss


25 Net Sales/Income from operations
26 Other income
27 Total Income 0.00
28 Cost of material consumed
29 Share holders fund(in Rs) 0.00
30 No of Outstanding Shares(in units)
Total Expenditure(Except Finance
cost+Depreciation+Amortisation)
31
32 Finance costs
33 Profit before Depreciation and Tax -
34 Depreciation and Amortisation expense 319.48
35 Others Write of
36 Profit before Interest and Tax (PBIT) -319.48
37 Extraordiary Items
38 Profit Before Tax (PBT) (319.48)
39 Tax After Tax but before Share of Profit of Associates &
Profit 99.12
40 Minority Interest (418.60)
41 Share of Profit of Associates
42 Share of Minority Interest 1.63
43 Profit / Loss for the Year (420.23)
44 Statutory Appropriation
Profit After Tax, Share ofAssociates, Minority Interest &
45 Statutory Appropriation (420.23)
46 EPS 15.10
47

Cash Flow
51 Cash Flow from Operations -
52 Cash Flow from Investments -
53 Cash Flow from Financing activities -
54 Book Value of Shares #DIV/0!
55 Market Price 2,625.20
56 Capital Expenditure -
57 Owners Earning -
58 Working Capital -
59 Gross Profit -
60 Operating Profit -
61 Dividend Paid -
62 Retained Earning -
63 Purchase of Goods -
Cost (Rs in lakhs)
Q1-2014 Q4-2013 Q3-2013 Q2-2013 Q4-2012

- - - - -

- - - - -

- - - - -
- - - - -

- - - - -

- - - - -
- - - - -

0.00 0.00 0.00 0.00 -


0.00 0.00 0.00 0.00 0.00

- - - 0.00
281.65 278.45 264.48 257.25

-281.65 (278.45) (264.48) -257.25

-281.65 -278.45 -264.48 -257.25


275.98 138.39 139.08 106.97
-557.63 (416.84) (403.56) (364.22)

1.16
-558.79 (416.84) (403.56) (364.22)

-558.79 (416.84) (403.56) (364.22)


22.86 30.56 13.49 9.63

- - - -
- - - -
- - - -
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
2,599.45 2,188.90 1,763.35 1,809.55
- - - -
- - - -
- - - -
- - - - -
- - - - -
- - - -
0 0 0 0
- - - -
Q2-2014
Return on Capital #DIV/0!
Return on Networth #DIV/0!
Return on Asset #DIV/0!
Net Sales -
Gross Profit -
operaing profit -
Net Profit after tax (420.23)
EPS 15.10
P/E 173.8543046358
P/BV #DIV/0!
Owners earning per share #DIV/0!
Price to owners earning #DIV/0!
Long term Debt Equity Ratio #DIV/0!
Current Ratio #DIV/0!
Quick Ratio #DIV/0!
Long Term debt to Owners Earning #DIV/0!
Interest Coverage Ratio #DIV/0!
CROIC #DIV/0!
Debtor Turnover Ratio #DIV/0!
Creditors Turnover Ratio #DIV/0!
Inventory Turnover Ratio #DIV/0!
Fixed Asset Turnover Ratio #DIV/0!
Total Asset Turnover Ratio #DIV/0!
Cost Income ratio #DIV/0!
Gross profit Margin #DIV/0!
Operating Profit margin #DIV/0!
Net Profit Ratio #DIV/0!
Efective Tax Rate 131.03
Dividend Yield -
Sloan Ratio #DIV/0!
M Score
Altman Z Score #DIV/0!
PEG 3.40

Graham Number 1901.128401597


Relative graham Number 72.4184215144
EPS(TTM) 84.04
Q1-2014 Q4-2013 Q3-2013 Q2-2013 Q4-2012 Average(5 yrs)
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
- - - - - 0
- - - - - 0
- - - - - 0
(558.79) (416.84) (403.56) (364.22) - -432.728
22.86 30.56 13.49 9.63 - 18.328
113.7117235346 71.6263089005 130.7153447 187.90758048 #DIV/0! 135.56305245
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!
197.99 149.70 152.59 141.58 #DIV/0! 154.576146117
- - - - #DIV/0! 0
#DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0!

#DIV/0! #DIV/0! #DIV/0! #DIV/0!


Q2-2013 9.63
Q3-2013 13.49
Q4-2013 30.56
Q1-2014 22.86
Q2-2014 15.10

Growth(G) 9.41 Graham Number 1901.13

Current Market price 2,625.20 PEG Ratio 3.40


EPS (TTM) 82.01
Govt. Bond Rate 8.4
Sensex Price 26630.51
Parameters Q2-2013
Market Risk Interest Rate Sensitivity
Forex Sensitivity
Credit Risk Probability of Default(Altman Z Score) #DIV/0!
Performance Sales 0
Gross profit 0
Operating Profit 0
Net Profit after tax -364
P/E ratio 187.9075804777
Operational Risk Ligitation
Regulatory Notes
News Events
Liquidity Risks Current Ratio #DIV/0!
Quick Ratio #DIV/0!
Interest coverage ratio #DIV/0!
Efficiency Ratios Debtor turnover ratio #DIV/0!
Creditor turnover ratio #DIV/0!
Fixed Asset turnover ratio #DIV/0!
Total asset turnover ratio #DIV/0!
Inventory Turnover ratio #DIV/0!
Cost income ratio #DIV/0!
Profitability & Growth Gross profit Margin #DIV/0!
Operating Profit Ratio #DIV/0!
Net Profit Ratio #DIV/0!
Efective tax rate 141.5821185617
Return on Capital employed #DIV/0!
Return on Networth #DIV/0!
Return on asset #DIV/0!
Valuation Relative Graham Number
PEG Ratio
Industry Industry/Sector Growth
Q2-2014 Five year average Weightage Rating(1/2/3)
5
5
#DIV/0! 4
0 0 4 3
0 0 4 3
0 0 4 3
-420 -433 5 3
173.8543046 135.56 4 2
4 3
4 3
4 3
#DIV/0! 4 2
#DIV/0! 4 2
#DIV/0! 4 2
#DIV/0! 4 2
#DIV/0! 4 2
#DIV/0! 4 2
#DIV/0! 4 2
#DIV/0! 4 3
#DIV/0! 4 3
#DIV/0! 3 2
#DIV/0! 3 3
#DIV/0! 3 3
131.0254163 154.5761461167 3 3
#DIV/0! 4 3
#DIV/0! 3 3
#DIV/0! 3 3
72.41842151 2 2
3.40058401 2 2
1 3

ORR 2.49
METHOD1

Current Price 2,625.20


P/E 173.8543046358
K 0.0057519427
Dividend Per Share 0
Expected Price 2640.3
1.26

3625.38

28.11 0.035575

87.25 19.74 0.050659

91.41996
3753.091
YEAR Q2-2013 Q3-2013 Q4-2013 Q1-2014 Q2-2014 CAGR

Net Sales in crores 0.00 0.00 0.00 0.00 0.00 #DIV/0!


Gross Profit in crores 0.00 0.00 0.00 0.00 0.00 #DIV/0!
Operating Profit in crores 0.00 0.00 0.00 0.00 0.00 #DIV/0!
Net Profit in crores -3.64 -4.04 -4.17 -5.59 -4.20 3.64%
EPS 9.63 13.49 30.56 22.86 15.10 11.90%
P/E 187.91 130.72 71.63 113.71 173.85 -1.92%
Increase
over Increase over Average
Previous last year
Quarter

#DIV/0! #DIV/0! 0
#DIV/0! #DIV/0! 0
#DIV/0! #DIV/0! 0
-24.80% 15.38% -4.32728
-33.95% 56.80% 18.328
52.89% -7.48% 135.5631
Net Sales (in crores)
1.00
0.90
0.80
0.70
0.60
0.50
0.40
0.30
0.20
0.10
0.00
Q2-2013 Q3-2013 Q4-2013 Q1-2014 Q2-2014

Net Sales in crores

Gross Profit (in crores)


1.00
0.90
0.80
0.70
0.60
0.50
0.40
0.30
0.20
0.10
0.00
Q2-2013 Q3-2013 Q4-2013 Q1-2014 Q2-2014

Operating Profit in crores

EPS in Rs.
35.00

30.00

25.00

20.00

15.00

10.00
30.00

25.00

20.00

15.00

10.00

5.00

0.00
Q2-2013 Q3-2013 Q4-2013 Q1-2014 Q2-2014

EPS

Sloan Ratio (%)


12

10

0
Q2-2014 Q1-2014 Q4-2013 Q3-2013 Q2-2013

Sloan Ratio
Gross Profit(in crores)
1.00
0.90
0.80
0.70
0.60
0.50
0.40
0.30
0.20
0.10
0.00
Q2-2013 Q3-2013 Q4-2013 Q1-2014 Q2-2014

Gross Profit in crores

Net Profit (in crores)


0.00
Q2-2013 Q3-2013 Q4-2013 Q1-2014 Q2-2014

-1.00

-2.00

-3.00

-4.00

-5.00

-6.00

Net Profit in crores

P/E
200.00
180.00
160.00
140.00
120.00
100.00
80.00
60.00
40.00
160.00
140.00
120.00
100.00
80.00
60.00
40.00
20.00
0.00
Q2-2013 Q3-2013 Q4-2013 Q1-2014 Q2-2014

P/E
Year Mar-14 Mar-13 Mar-12 Mar-11 Mar-10
EPS 80.69 98.04 87.47 49.67 88.11

Average EPS 80.796

RSPE 32.491708