UltraTech Cement, an Aditya Birla Group company today announced its financial results for the quarter ended 31st March, 2016 and the financial year 2015 - 16.
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Domestic cement registered a growth of 15% during Q4FY16. Grey cement sales were 46.93 MnT (43.38 MnT) for the full year and 13.20 MnT (11.51 MnT) for Q4FY16. White cement and wall care putty recorded sales of 13.12 LmT (12.24 LmT) during FY16 and 3.85 LmT (3.52 LmT) for the quarter ended 31st March, 2016, respectively.
The operating costs reduced with operational efficiencies, a judicious fuel mix and fall in fuel prices.
Net Sales stood at Rs. 6,850 crores vis-à-vis Rs. 6,517crores in the corresponding period of the previous year. Profit before interest, depreciation and tax is Rs.1,478 crores as against Rs.1,435 crores. Profit after Tax at Rs.723 crores was higher by 10% as compared to Rs. 657 crores in the corresponding period of the previous year.
Net Sales at Rs.25,281 crores are up from Rs.24,056 crores. Profit before interest, depreciation and tax at Rs.5,109 crores was 7% higher than Rs. 4,776 crores and Profit after Tax at Rs. 2,287 crores was 9% higher as compared to Rs. 2,098 in FY15.
On a standalone basis the Company achieved Net Sales of Rs. 23,841 crores (Rs. 22,648 crores). Profit before Interest, Depreciation and Tax is Rs. 4,851 crores and Profit after Tax is Rs. 2,175 crores vis-a-vis Rs. 4,567 crores and Rs. 2,015 crores respectively.
The Board of Directors at their meeting held today have recommended a dividend of 95%, at the rate of Rs. 9.50/- per share of face value of Rs. 10/- each aggregating Rs. 260.71 crores. The Company will absorb the Corporate Tax on dividend amounting to Rs. 53.07 crores, resulting in a total payout of Rs. 313.78 crores.
The Company's on-going capex program is on track. With the commissioning of 26 MW capacity Waste Heat Recovery Systems across its operating units, power generation from waste heat recovery stands augmented to 59 MW. Further, upon commissioning of the cement grinding plants at Jhajjar in Haryana, Dankuni in West Bengal and Patliputra in Bihar, the Company's cement capacity in India is enhanced to 66.3 MTPA. The Company also commissioned a 2.0 MTPA cement packaging terminal on the outskirts of Pune, Maharashtra.
The Company entered into definitive agreements with Jaiprakash Associates Limited for the acquisition of identified cement plants of JAL in the states of Madhya Pradesh, Uttar Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh having capacity of 21.20 mtpa at an enterprise value of Rs. 15,900 crores.
Cement demand is expected to grow 7-8% for next year on the back of the Governments' focus on infrastructure development, housing, smart cities etc., all of which augur well for the Company. UltraTech Cement is confident of meeting the demand upsurge and participating proactively in the next phase of growth in India.