On consolidated basis
Quarter ended December 2024 compared
with Quarter ended December 2023.
Net sales (including other operating income) of UltraTech Cement has increased
2.71% to Rs 17193.33 crore.
Operating profit margin has declined
from 19.44% to 16.79%, leading to 11.29% decline in operating profit to Rs
2,887.09 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 14.77% to 16.00%. Purchase of finished
goods cost rose from 2.23% to 3.67%. Employee cost increased from
4.53% to 4.91%. Other expenses fell from 59.30% to 58.72%.
Power and Oil fuel cost fell from 24.62% to 23.01%.
Freight charges rose from 21.34% to 22.03%.
Other income rose 73.90% to Rs
244.29 crore. PBIDT fell 7.77% to Rs 3131.38
crore. Provision for interest rose 45.67% to Rs 381.88
crore.
PBDT fell 12.24% to Rs 2749.5
crore. Provision for depreciation rose 17.01% to Rs 916.73
crore.
Profit before tax down 21.99% to Rs
1,832.77 crore. Provision for tax was expense of Rs 358 crore,
compared to Rs 580.39 crore. Effective tax rate was 19.55% compared
to 24.64%.
Net profit attributable to owners of
the company decreased 17.30% to Rs 1,469.52 crore.
Promoters’ stake was 60.00% as of 31
December 2024 ,compared to 59.96% as of 31 December 2023 .
Year-to-date (YTD) results analysis.
Net sales (including other operating income) of UltraTech Cement has increased
0.81% to Rs 50897.62 crore.
Operating profit margin has declined
from 17.54% to 15.61%, leading to 10.28% decline in operating profit to Rs
7,944.64 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 14.52% to 15.86%. Purchase of
finished goods cost rose from 2.42% to 3.03%. Employee cost increased
from 4.48% to 4.89%. Other expenses fell from 61.23% to 60.67%.
Power and Oil fuel cost fell from 26.34% to 24.09%.
Freight charges rose from 22.01% to 22.65%.
Other income rose 31.04% to Rs
630.76 crore. PBIDT fell 8.15% to Rs 8575.4
crore. Provision for interest rose 35.04% to Rs 954.56
crore.
PBDT fell 11.68% to Rs 7620.84
crore. Provision for depreciation rose 14.28% to Rs 2663.12
crore.
Profit before tax down 21.29% to Rs
4,957.72 crore. Share of profit/loss was 98.46% lower at Rs 0.2
crore. Provision for tax was expense of Rs 996.5 crore, compared to
Rs 1566.32 crore. Effective tax rate was 19.97% compared to 24.82%.
Net profit attributable to owners of
the company decreased 16.03% to Rs 3,986.15 crore.
Promoters’ stake was 60.00% as of 31
December 2024 ,compared to 59.96% as of 31 December 2023 .
Full year results analysis.
Net sales (including other operating income) of UltraTech Cement has increased
12.13% to Rs 70908.14 crore.
Operating profit margin has jumped
from 16.79% to 18.29%, leading to 22.12% rise in operating profit to Rs
12,968.56 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 14.01% to 14.44%. Purchase of
finished goods cost rose from 2.04% to 2.44%. Employee cost
decreased from 4.30% to 4.28%. Other expenses fell from 63.00% to
60.57%. Power and Oil fuel cost fell from 29.00% to 25.75%.
Freight charges rose from 21.97% to 22.37%.
Other income rose 22.63% to Rs
616.95 crore. PBIDT rose 22.14% to Rs 13585.51
crore. Provision for interest rose 17.66% to Rs 968
crore. Loan funds rose to Rs 11,402.95 crore as of 31 March 2024
from Rs 11,057.74 crore as of 31 March 2023. Inventories rose to Rs
8,329.74 crore as of 31 March 2024 from Rs 6,611.83 crore as of 31 March
2023. Sundry debtors were higher at Rs 4,278.16 crore as of 31 March
2024 compared to Rs 3,867.02 crore as of 31 March 2023. Cash and
bank balance declined from Rs 1,149.59 crore as of 31 March 2023 to Rs 783.21
crore as of 31 March 2024. Investments rose to Rs 8,248.95 crore as
of 31 March 2024 from Rs 7,296.95 crore as of 31 March 2023 .
PBDT rose 22.50% to Rs 12617.51
crore. Provision for depreciation rose 8.91% to Rs 3145.3
crore. Fixed assets increased to Rs 57,825.13 crore as of 31 March
2024 from Rs 57,290.13 crore as of 31 March 2023. Intangible assets
increased from Rs 6,329.26 crore to Rs 11,863.66 crore.
Profit before tax grew 27.79% to Rs
9,472.21 crore. Share of profit/loss was 446.15% higher at Rs 22.01
crore. Provision for tax was expense of Rs 2418.26 crore, compared
to Rs 2342.85 crore. Effective tax rate was 25.67% compared to
31.59%.
Net profit attributable to owners of
the company increased 38.33% to Rs 7,005.00 crore.
Equity capital stood at Rs 288.69
crore as of 31 March 2024 to Rs 288.69 crore as of 31 March
2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 59.95% as of 31
March 2024 ,compared to 59.96% as of 31 March 2023 .
Cash flow from operating activities
increased to Rs 10,897.54 crore for year ended March 2024 from Rs 9,068.51
crore for year ended March 2023. Cash flow used in acquiring fixed
assets during the year ended March 2024 stood at Rs 9,005.59 crore, compared to
Rs 6,200.11 crore during the year ended March 2023.
Operational highlights:
Domestic
sales volume grew 10.5% yoy and 9% qoq.
Trade
volume grew 12.5% yoy and rural sales volume grew 13% yoy.
Domestic
operating EBITDA stood at Rs 964/MT, higher by ? 232/Mt qoq.
Premium
product mix of 26.5%, up 15% yoy.
The
India Cements Limited (ICEM) has become a subsidiary of the Company with effect
from 24th Dec, 2024. ICEM’s grey cement capacity is 14.45 mtpa.
Others
Expansion:
UltraTech
commissioned an additional 1.8 mtpa capacity. With the acquisition of The India
Cements Limited, UltraTech’s cement capacity has increased to 171.11 mtpa, on a
consolidated basis.
Upon
completion of the ongoing expansion projects and the acquisition of Kesoram
Cement (10.75 MTPA), UltraTech will achieve the unique milestone of more than
200 mtpa cement capacity in the country
by the end of FY27.
Sustainability: UltraTech
commenced 16 MW of WHRS capacity during the quarter. With this, the Company’s total
WHRS capacity stands augmented to 324 MW. The share of green power (including
WHRS and RE Power) in the Company’s power mix is 33.4% for the quarter.
| UltraTech Cement : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202412 | 202312 | Var.(%) | 202412 | 202312 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 17,193.33 | 16,739.97 | 2.71 | 50,897.62 | 50,489.20 | 0.81 | 70,908.14 | 63,239.98 | 12.13 | | OPM (%) | 16.79 | 19.44 | -265 bps | 15.61 | 17.54 | -193 bps | 18.29 | 16.79 | 150 bps | | OP | 2,887.09 | 3,254.57 | -11.29 | 7,944.64 | 8,854.64 | -10.28 | 12,968.56 | 10,619.85 | 22.12 | | Other Inc. | 244.29 | 140.48 | 73.90 | 630.76 | 481.34 | 31.04 | 616.95 | 503.08 | 22.63 | | PBIDT | 3,131.38 | 3,395.05 | -7.77 | 8,575.40 | 9,335.98 | -8.15 | 13,585.51 | 11,122.93 | 22.14 | | Interest | 381.88 | 262.16 | 45.67 | 954.56 | 706.85 | 35.04 | 968.00 | 822.72 | 17.66 | | PBDT | 2,749.50 | 3,132.89 | -12.24 | 7,620.84 | 8,629.13 | -11.68 | 12,617.51 | 10,300.21 | 22.50 | | Depreciation | 916.73 | 783.48 | 17.01 | 2663.12 | 2330.38 | 14.28 | 3145.3 | 2887.99 | 8.91 | | PBT | 1,832.77 | 2,349.41 | -21.99 | 4957.72 | 6298.75 | -21.29 | 9472.21 | 7412.22 | 27.79 | | Share of Profit/(Loss) from Associates | -1.25 | 5.76 | PL | 0.2 | 12.95 | -98.46 | 22.01 | 4.03 | 446.15 | | PBT before EO | 1831.52 | 2355.17 | -22.23 | 4957.92 | 6311.7 | -21.45 | 9494.22 | 7416.25 | 28.02 | | EO Income | 0 | 0 | - | 32.5 | 0 | - | -72 | 0 | - | | PBT after EO | 1831.52 | 2355.17 | -22.23 | 4990.42 | 6311.7 | -20.93 | 9422.22 | 7416.25 | 27.05 | | Taxation | 358 | 580.39 | -38.32 | 996.5 | 1566.32 | -36.38 | 2418.26 | 2342.85 | 3.22 | | PAT | 1473.52 | 1774.78 | -16.97 | 3993.92 | 4745.38 | -15.84 | 7003.96 | 5073.4 | 38.05 | | Minority Interest (MI) | 4 | -2.2 | PL | 7.77 | -1.5 | PL | -1.04 | 9.44 | LP | | Net profit | 1469.52 | 1776.98 | -17.30 | 3986.15 | 4746.88 | -16.03 | 7005 | 5063.96 | 38.33 | | P/(L) from discontinued operations net of tax | -0.01 | 0 | - | -0.01 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 1469.51 | 1776.98 | -17.30 | 3986.14 | 4746.88 | -16.03 | 7005 | 5063.96 | 38.33 | | EPS (Rs)* | 50.90 | 61.55 | -17.30 | 137.17 | 164.42 | -16.57 | 244.49 | 175.41 | 39.39 | | | * EPS is on current equity of Rs 288.70 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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