UltraTech announces audited results for year ended 31 March 2006
7 July 2006
UltraTech announces audited results for year ended 31 March 2006
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| Rs. in Crore | ||
|---|---|---|
| FY 2006 | FY 2005 | |
| Net sales | 3,299 | 2,607 |
| Profit before tax expenses and provision for diminution in value of investment | 286 | (34) |
| Tax | 56 | (37) |
| Net profit | 230 | 3 |
UltraTech Cement Limited, an Aditya Birla Group company, has reported net revenues at Rs.3,299 crore (Rs.2,607 crore) for the financial year ended 31 March 2006. After providing for interest — Rs.90 crore (Rs.107 crore) and depreciation — Rs.216 crore (Rs.222 crore), the Profit Before Tax and provision for diminution in value of investments {Rs.Nil (Rs.77 crore)} stood at Rs.286 crore (Rs.(34)crore). The figures for the year under review include those of Narmada Cement Company Limited for the period 1 October 2005 to 31 March 2006.
The Board of Directors have at their meeting held today, recommended a dividend of 17.50, aggregating to Rs.21.79 crore. The company will absorb corporate tax on dividend amounting to Rs.3.06 crore, thereby leading to a total payout of Rs.24.85 crore.
During the year the company produced 12.73.MMT of clinker (12.36MMT) and 13.33 MMT of cement (12.11 MMT). Extended shutdowns and consequent lower clinker exports resulted in capacity utilisation of 89 per cent compared to 91 per cent during the previous year.
Aggregate sales volumes at 15.55 MMT (15.17 MMT) was up by 2.5 per cent. Domestic sales constitute 83 per cent and exports constitute 17 per cent of the total turnover. The export mix saw a growth in cement, which constitutes 57 per cent of the total exports.
Domestic cement realisation increased by 21 per cent from Rs.1,750 pmt to Rs.2,123 pmt. Export realisation also witnessed an improvement, with both cement and clinker export realisation increasing by 11 per cent and 23 per cent respectively.
Power and fuel costs increased by 8 per cent mainly on account of increase in petro product prices.
The board has approved capital expenditure of around Rs.490 crore towards improvement in productivity and cost efficiencies. To address the concern of increasing power costs, the board has sanctioned Rs.270 crore for setting up of another captive power plant at Hirmi, Chhattisgarh. The approved aggregate capital expenditure plan is Rs.1,660 crore, which will be spent over the next three years.
The Scheme of Amalgamation of Narmada Cement Company Limited (NCCL) with the company has been approved by the Board for Industrial and Financial Reconstruction with effect from 1 October 2005. Shareholders of NCCL have been allotted equity shares in the company and the same have been listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The outlook for the cement industry is encouraging. Given the government's thrust on infrastructure and housing development, the industry is expected to grow over 8 per cent during the current fiscal.
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
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