UltraTech Cement Q4 Results FY2023, Net Profit at Rs. 1666 crores
On 28th April, UltraTech Cement announced its results for the last quarter of FY2023.
UltraTech Cement Revenue:
- Consolidated Net Sales for Q4FY23 at Rs. 18,436 crores recorded a growth of 19% versus Rs. 15,557 crores in the corresponding period of the previous year.
- For the full year, Consolidated Net Sales jumped 21% to Rs. 62,338 crores from Rs. 51,708 last year.
UltraTech Cement Profit:
- Profit before interest, depreciation, and tax for Q4FY23 was Rs. 3,444 crores versus Rs. 3, 165 crores in the corresponding period of the previous year.
- Profit after tax for Q4FY23 was Rs. 1,666 crores compared to a normalized profit Rs. 1,478 crores (before one-time extraordinary gains) in the corresponding period of the previous year.
- Profit before interest, depreciation, and tax for FY2023 was Rs. 11,123 crores versus Rs. 12,022 crores in the corresponding period of the previous year.
- Profit after tax for FY2023 was Rs. 5,064 crores compared to a normalized profit of Rs. 5,667 crores (before one-time extraordinary gains} in the corresponding period of the previous year
UltraTech Cement Business Highlights:
- UltraTech achieved the unique distinction of registering 100 million tons of production, dispatches, and sales in FY23. This was backed by an effective capacity utilization of 95% during this quarter and 84% capacity utilization for the year.
- The Company saw an increase in energy cost by 17% YoY and 4% lower QoQ. Prices of pet coke and coal increased 18% YoY. Raw material cost was up 9% YoY on account of the increase in the cost of fly ash, slag, gypsum, etc.
- UltraTech's expansion program is progressing as per schedule. During the year, the Company commissioned 12.4 mtpa additional capacity of grey cement. It has further commissioned a 2.2 mtpa brownfield cement capacity at Patliputra on April, 23.
- 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.
- The Board of Directors approved a Scheme of Amalgamation of Ultra Tech Nathdwara Cement Limited (a wholly-owned subsidiary of the Company) and its wholly-owned subsidiaries viz. Swiss Merchandise Infrastructure Limited and Merit Plaza Limited with the Company.
- The Board of Directors has recommended a dividend of 380% at the rate of Rs. 38/- per equity share of face value of Rs. 10/- per share, aggregating Rs.1097.01 crores.
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