25 July 2006
UltraTech posts impressive results for Q1 2006-07
|Sales||Rs.1180 crore, up by 49 per cent|
|PAT||Rs.211 crore, rises 252 per cent|
|Rs. in Crore|
|Quarter ended 30 June 2006||Quarter ended 30 June 2005||per cent change|
|Profit After Tax||211||60||252|
UltraTech Cement Limited, an Aditya Birla Group Company, today announced its unaudited financial results for the quarter ended 30 June 2006. The first quarter performance of the company has seen an improved growth in sales and net profit, driven by higher domestic realisation and volumes.
Net sales at Rs.1,180 crore was 49 per cent higher compared to the corresponding quarter in FY2006 (Rs.793 crore). Profit before Interest - Rs.23 crore (Rs.22 crore), Depreciation - Rs. 54 crore (Rs.51 crore) and Tax - Rs.100 crore (Rs.27 crore) was Rs.388 crore (Rs.160 crores). Profit After Tax stood at Rs.211crore (Rs.60 crore).
Capacity utilisation rose across all the units of the Company. The effective capacity utilisation was 104 per cent vis-à-vis 95 per cent in Q1 FY 2006. The company produced 37.06 LMT of clinker (31.61 LMT) and 38.75 LMT (34.42 LMT) of cement.
The domestic sales volume grew by 10 per cent ahead of industry growth. Overall sales volume also increased by 12 per cent at 44.55 LMT (39.95 LMT). Exports too are higher by 16 per cent. While cement exports were at 3.48 LMT compared to 4.15 LMT in Q1 FY 2006, clinker exports grew from 3.19 LMT in Q1 FY 2006 to 5.04 LMT in Q1 FY 2007.
During the quarter, the variable costs stepped up by 8 per cent mainly on account of an upsurge in power costs, which went up by 17 per cent. To address the issue of rising energy costs, the company has earmarked a capex of around Rs.1,424 crore to be spent over the next three years. Of this Rs.844 crore is towards installation of captive power plants at the company's units in Gujarat and Chhattisgarh.
To meet the growing demand for cement and to maintain its market share in the southern market, the board has approved a capex of Rs.1,274 crore towards expansion of cement capacity by 4 mtpa at the company's plant in Andhra Pradesh (APCW). This is inclusive of a 1.30 mtpa split grinding unit and a 46 MW captive thermal power plant.
UltraTech's outlook for the full year is promising. The government's thrust on infrastructure and the heightened housing demand augurs well for the industry.
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