UltraTech Cement Q4 result Net profit sinks 32%

UltraTech Cement today reported a net consolidated profit of Rs 1,665.95 crore for the March quarter of the financial year 2022-23, a decline of 32.29 percent from Rs 2,460.51 crore recorded in the same quarter of the previous year.

The Board of Directors at their meeting held today have recommended a dividend at the rate of Rs. 38 per equity share.

Revenue from operations came in at Rs 18,662.38 crore, up 18.36 percent from Rs 15,767.28 crore in the year-ago quarter..

The company has achieved 100 million tons of production, dispatches and sales in FY23. This was backed by an effective capacity utilisation of 95 percent during this quarter and 84 percent capacity utilisation for the year.

The energy cost is up by 17 percent YoY and 4 percent lower QoQ. Prices of pet coke and coal increased 18 percent YoY. Raw material cost was up 9 percent YoY on account of increase in cost of fly ash, slag and gypsum etc.

UltraTech has informaed that its expansion program is progressing as per schedule. During the year, the Company commissioned 12.4 mtpa (million tonne per annum) additional capacity of grey cement. It has further commissioned a 2.2 mtpa brownfield cement capacity at Patliputra in April 2023.

Work on its next phase of growth of 22.6 mtpa has already commenced. Civil work is in full swing at most sites. Commercial production from these new capacities is expected to go on stream in a phased manner by FY25/FY26. Upon completion of these expansions, the Company’s capacity will grow to 160.45 mtpa, reinforcing its position as the third largest cement company in the world, outside of China and the largest in India by far.

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