Mumbai, 8th August, 2019
(Rs. in crores)
UltraTech Cement Limited, today announced its unaudited financial results for the quarter ended 30th June, 2019.
Net Sales stood at Rs. 10,027 crores compared to Rs. 8,720 crores in Q1FY19. Profit before Interest, Depreciation and Tax is Rs. 2,840 crores vis-à-vis Rs. 1,763 crores with Profit After Tax at Rs. 1,208 crores compared to Rs. 631 crores in Q1FY19.
UltraTech Nathdwara Cement Limited
With major overhauling of the plants and completion of quality upgradation, UltraTech Nathdwara Cement Limited has been fully integrated with UltraTech systems and processes. The plants have achieved optimal efficiencies.
Acquisition in FY18
The 21.2 mtpa cement capacity acquired from Jaiprakash Associates in June, 2017 are operating in line with the existing plants of the Company and have achieved PBT break-even during the quarter. The Bara Grinding Unit is scheduled for commissioning during Q3-FY20. There have been some delays in the project.
The Hon’ble National Company Law Tribunal, Mumbai Bench (“NCLT”) has by its order dated 3rd July, 2019 sanctioned the Scheme of Demerger between Century Textiles and Industries Limited (“Century”), the Company and the respective shareholders and creditors (“the Scheme”). The transaction had earlier received approval of the stock exchanges, the Competition Commission of India and shareholders. The NCLT has approved 20th May, 2018 as the Appointed Date for the Scheme. The Scheme will be made effective upon receipt of the remaining regulatory approvals during Q2FY20
In terms of the Scheme, the Company will issue 1 (one) equity share of face value of Rs. 10/- each for every 8 (eight) equity shares of Century of face value of Rs. 10/- each to the shareholders of Century.
After the completion of this transaction and coupled with the on-going expansions, the Company will achieve an installed capacity of 117.35 MTPA, inclusive of its overseas operations.