Financial results for year ended 31 March 2012

1st May, 2012

23 April 2012

Financial results for year ended 31 March 2012

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Rs. in crore
 Year endedQuarter ended
 31.03.1231.03.11(LFL#)31.03.1231.03.11
Net sales18,16615,4065,3374,490
PBIDT4,5193,4531,4641,127
PAT2,4461,719867727


UltraTech Cement, an Aditya Birla Group company, today announced its financial results for the year ended 31st March 2012. The results for the year ended 31st March 2011 have been recasted to include Samruddhi Cement Limited’s performance for the period 1st April 2010 to 30th June 2010 for a like-for-like comparison. The results are strictly not comparable with the corresponding period of the previous year.

Financials –; FY12
Net sales stood at Rs.18,166 crores as compared to Rs.15,406 crores in the corresponding period of the previous year. Profit before interest, depreciation and tax is Rs.4,519 crores as against Rs.3,453 crores in the corresponding period of the previous year. Profit after tax is Rs.2,446 crores compared to Rs.1,719 crores in FY11.

The combined cement and clinker sales of grey cement was 40.73 MMT (39.74 MMT), for white cement 5.6 LMT (5.5 LMT) and for wall care putty 3.7 LMT (2.9 LMT).

The variable cost increased by 13 per cent driven by high input and energy costs. The price of coal, both domestic and imported continued to mount in FY12. The impact of the increase in domestic coal prices by 30 - 150 per cent by Coal India in Q4FY11 was felt during the year. Further, logistics cost also rose on account of the increase in railway freight.

Financials –; Q4FY12
Net sales stood at Rs.5,337 crores as compared to Rs.4,490 crores in the corresponding period of the previous year. Profit before interest, depreciation and tax is Rs.1,464 crores as against Rs.1,127 crores in the corresponding period of the previous year. Profit after tax is Rs.867 crores compared to Rs.727 crores in FY11.

The combined cement and clinker sales of grey cement was 11.54 MMT (10.70 MMT), for white cement 1.6 LMT (1.5 LMT) and for wall care putty 1.1 LMT (0.8LMT).

During the quarter variable cost rose by 10 per cent mainly on account of increase in energy costs.

Dividend
The Board of Directors at their meeting held today recommended a dividend of 80 per cent, at the rate of Rs. 8 per share of face value of Rs.10 each aggregating to Rs.219 crores. The company will absorb the corporate tax on dividend amounting to Rs.36 crores, resulting in a total payout of Rs.255 crores.

Capex
The company’s initiative towards setting up of additional clinkerisation plants at Chhattisgarh and Karnataka together with grinding units, bulk packaging terminals and ready mix concrete plants is progressing on schedule and are expected to be operational from early FY14. Consequently, the company’s cement capacity will be enhanced by 10.2 mtpa.

Outlook
The cement industry is likely to grow over 8 per cent linked to the Government’s focus on infrastructure development.

The surplus scenario is likely to continue for the next three years. Moreover, continuing rise in input costs will adversely impact margins.

About UltraTech Cement Limited
UltraTech Cement Limited, an Aditya Birla Group cement major, is among the top 10 producers of cement in the world and the largest in India with a capacity of 52 million tonnes. With around US$4 billion in revenues and anchored by 8,500 employees, UltraTech has 11 integrated units, 15 grinding units, one clinkerisation plant and five bulk terminals across India, UAE, Bahrain, Bangladesh and Sri Lanka. It is also the largest producer of white cement, wall care putty and ready mix concrete in India. UltraTech offers solutions for the construction industry with its presence in building products - dry mix mortar, concrete blocks and water proofing. UltraTech stands for premium quality, reliability, green technology and innovation, making it the choice of every discerning engineer and consumer.

Statements in this "Press Release" describing the company's objectives, projections, estimates, expectations or predictions may be "forward looking statements" within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the company's operations include demand supply conditions, finished goods prices, feed stock availability and prices, cyclical demand and pricing in the company's principal markets, changes in Government regulations, tax regimes, economic developments within India and the countries within which the company conducts business and other factors such as litigation and labour negotiations. The company assumes no responsibility to publicly amend, modify or revise any forward looking statement on the basis of any subsequent development, information or events, or otherwise.

For more information, contact:
Dr. Pragnya Ram
Group Executive President
Corporate Communications & CSR
Aditya Birla Management Corporation Private Limited
Tel: 91-22-6652 5000 / 2499 5000
Fax: 91-22-6652 5741/ 42
Email: pragnya.ram@adityabirla.com