19th July 2014
Financial Results for the Quarter ended 30th June, 2014
UltraTech Cement Limited, an Aditya Birla Group Company, today announced its unaudited financial results for the quarter ended 30th June, 2014.
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(Rs in crores)
* The figure for Q1FY’15 include those of the Gujarat Units of Jaypee Cement Corporation Limited from
12th June, 2014 and are therefore not strictly comparable with the previous years figures
Net Sales stood at Rs 5,649 crores as compared to Rs 4,959 crores in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax is Rs 1,264 crores and Profit after Tax is Rs 626 crores vis-a-vis Rs 1,237 crores and Rs 673 crores respectively, in the corresponding period of the earlier year.
The combined domestic cement and clinker sales was 11.70 MnT (10.08 MnT) while it was 2.57 LmT (2.50 LmT) for white cement and wall care putty.
During the quarter, domestic cement sales volume improved by 14% over the corresponding period in FY14. However, prices continued to remain under pressure. Variable cost increased by 3% mainly on account of increase in prices of petcoke and input material.
On a consolidated basis, Net Sales stood at Rs 5,989 crores as compared to Rs 5,272 crores in the corresponding period of the previous year. Profit before Interest, Depreciation and Taxis Rs 1,296 crores and Profit after Tax is Rs 628 crores vis-a-vis Rs 1,268 crores and Rs 669 crores respectively, in the corresponding period of the previous year.
During the quarter, the Company completed the acquisition of the Gujarat Units of Jaypee Cement Corporation Limited comprising of an integrated Unit at Sewagram and a grinding Unit at Wanakbori with a combined capacity of 4.8 mtpa. With this acquisition the cement capacity of the Company stands at 58.8 mtpa in India.
The Company’s on-going capex are on track. During the quarter, the Company commissioned a 25MW thermal power plant at Rajashree Cement, Karnataka and a 6.5 MW Waste Heat Recovery system at Awarpur, Maharashtra. With this the total power capacity of the Company (including WHRS) stands at 709 MW. This caters to around 80 % of the Company’s power requirement.
Cement demand is slated to grow around 7-8%, with expected double digit growth in the second half of the current fiscal. The key value drivers will be renewed government focus on housing and infrastructure spending.