21st October, 2020
PAT up 113 % YoY
UltraTech brand grows15%
The Aditya Birla Group’s, cement flagship UltraTech Cement Limited, today announced its financial results for the quarter ended 30th September 2020.
The Company’s strong quarterly performance is on the back of operational efficiencies and its ability to serve all India markets. UltraTech reported robust operating margins at 27% driven by both revenue growth and tight cost management. For the second quarter in a row, the Company has reduced net debt substantially. With prudent working capital management and overall efficient operations, the Company has shaved off Rs 4,728 crores of net debt in the first half of this fiscal year.
As it gradually resumed operations, post lifting of lockdown, UltraTech put together a detailed manual of Standard Operating Procedures giving primacy to safety and laying down robust processes for efficient working conditions in its plants and offices.
Financials
Consolidated Net Sales was at Rs.10,231 crores vis-à-vis Rs.9,486 crores over the corresponding period of the previous year. Profit before interest, depreciation and tax was at Rs. 2,830 crores vis-à-vis Rs. 2,065 crores in the corresponding period of the previous year. Profit after tax was Rs. 1,234 crores compared to Rs. 579 crores in the corresponding period of the previous year.
On a standalone basis, Net Sales stood at Rs. 9,895 crores (Rs. 9,123 crores). Profit before Interest, Depreciation, and Tax was Rs. 2,699 crores (Rs. 1,995 crores) and Profit After Tax was Rs. 1,209 crores (Rs.639 crores).
Work on the Company’s 3.4 mtpa cement capacity addition in Odisha, Bihar, and West Bengal has picked up pace and are expected to get commissioned during FY22, in a phased manner.
Acquisition update
The 14.6 mtpa cement plants acquired during the previous financial year have been integrated and now the company is investing in improving operations further.
Going Forward
The Company’s capital and financial resources remain entirely protected and its liquidity position is adequately covered. UltraTech expects demand for cement to grow on the back of Government's thrust on infrastructure and the expanding rural economy. The recent policy measures announced by the Reserve Bank of India to support the real estate sector will also aid demand.
Given its Pan-India presence, UltraTech is well-positioned to benefit from demand recovery across the markets.
UltraTech continues to remain committed to all its business associates.
