UltraTech Cement Q3 Results FY2023, Net Profit at Rs. 1058 Crores

On 21st January 2023, UltraTech Cement announced its results for the third quarter of FY2023.

Key Highlights:

- Consolidated Net Sales was Rs. 15,299 crores vis-a-vis Rs. 12,710 crores over the corresponding period of the previous year. 
- PBT was reported at Rs. 1527 crores
- Profit after tax was Rs.1,058 crores, resulting in subdued margins.

Business Highlights:

- Domestic grey cement sales volume rose 13% YoY and 12% QoQ, respectively. 
- Energy and raw material costs were up 33% and 13% YoY, while they remained flat on a sequential basis.
- UltraTech achieved capacity utilization of 83% as against 75% during Q3FY22. 
- The Company commissioned 18 MW of WHRS and 7 MW of solar power during the quarter. With these expansions, UltraTech's green energy share has gone up to 19.8% which includes 208 MW of WHRS and 325 MW of solar power. 
- Under the first phase of capacity expansion announced in December 2020, Ultra Tech commissioned a 5.5 mtpa new capacity during Q3FY23, a 1.9 mtpa greenfield integrated cement plant at Pali Rajasthan. 
- The Company along with its subsidiary now has 16.25 mtpa cement capacity in the state of Rajasthan spread over 5 separate plant locations. 
- UltraTech now has a wall care putty capacity of 13 lakh tpa. Along with its existing white cement manufacturing capacity in India and its investment in Ras Al Khaimah Company for White Cement and Construction Material, UAE, Ultra Tech is strategically positioned to cater to the white cement and wall care putty market in the country.