ICICI Securities raises target for UltraTech Cement stock to INR 12,138.00

Published on 10/05/2026 at 11:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue rose 15.90 percent to INR 246.48 billion in fiscal first quarter 2027. UltraTech Cement stock has a INR 3.2 trillion market value.

UltraTech Cement, INE481G01011, Illustration mit AI erstellt.

UltraTech Cement (INE481G01011) received a higher analyst target of INR 12,138.00 from INR 11,900.00 in an update dated September 4, 2026. DSIJ reported that ICICI Securities kept its Hold recommendation while incorporating value from UltraTech Cement's new Ultravolt wires and cables business.

Ultravolt adds a second growth engine

The September 4, 2026 analyst note described an investment of INR 18.00 billion in the new business. UltraTech Cement plans distribution through more than 100,000 retailers, 5,000 Building Solutions outlets, 500 districts and 6,000 postal codes, according to DSIJ.

The same report said more than 1,600 electricians had joined the network before launch, with a training goal of more than 40,000 electricians over the following year. The Jhagadia facility in Bharuch, Gujarat, had also been commissioned, giving the wires operation a manufacturing base.

Quarterly growth meets a margin test

UltraTech Cement reported consolidated revenue from operations of INR 246.48 billion for the quarter ended June 30, 2026, up 15.90 percent from the same quarter a year earlier. Profit after tax increased 17.20 percent to INR 26.04 billion, while earnings per share reached INR 88.36, according to GreekSoup.

Operating profit was INR 50.15 billion and the operating margin was 20.00 percent in that quarter. The combination of higher revenue and profit gives the cement business the financial base to fund expansion, while the new segment adds execution risk during its rollout.

October results set the next date

UltraTech Cement's investor calendar places financial reporting for the half year ending September 30, 2026, at the end of October. The NSE lists October 19, 2026, for the board meeting to consider the financial results, providing the next concrete company date for the stock.

On October 5, 2026, UltraTech Cement was quoted at INR 10,914.00 on the NSE at 2:52 p.m. IST, up 1.90 percent versus INR 10,710.00. Its market capitalization was INR 3.2 trillion, and the 52-week NSE range was INR 10,325.00 to INR 13,110.00.