UltraTech announces financial results for the year ended 31st March, 2022

*Note: Pursuant to completion of prior year income-tax assessments, the Company has (i) reversed accumulated provision for tax amounting to Rs. 323.35 Crores for the three months ended 31/12/2021 and Rs. 303.92 Crores for the year ended 31/03/2022 and (ii) accrued Minimum Alternate Tax Credit Entitlement of Rs. 211.86 Crores for the three months ended 31/12/2021 and Rs. 1,213.94 Crores for the year ended 31/03/2022

UltraTech Cement Limited today announced its financial results for the quarter and year ended 31st March, 2022.

FINANCIALS

Q4FY2021-22

Consolidated Net Sales at Rs.15,557 crores vis-à-vis Rs.14,232 crores over the corresponding period of the previous year. Profit before interest, depreciation and tax was Rs.3,165 crores vis-à-vis Rs.3,751 crores in the corresponding period of the previous year. Normalised Profit after tax was Rs.1,478 crores compared to Rs.1,814 crores in the corresponding period of the previous year.

FY22

For the full year, Consolidated Net Sales at Rs.51,708 crores vis-à-vis Rs.44,239 crores over the previous year. Profit before interest, depreciation and tax was Rs.12,022 crores vis-à-vis Rs.12,302 crores in the corresponding period of the previous year. Normalised Profit after tax was Rs.5,667 crores compared to Rs.5,530 crores in the corresponding period of the previous year.

OPERATIONS

After a slow start to the quarter, demand improved month on month, driven by improvement in the government’s various project execution. Input cost inflation remains a concern with the rise in fuel and diesel prices.

The Company saw an increase in energy cost by 48 per cent with prices of petcoke and coal doubling during the period. Raw material cost increased 7 per cent on account of the increase in the cost of fly ash, bauxite, gypsum and HSD. The Company’s efforts towards prudent working capital management and control on cash flows, continued relentlessly.

UltraTech achieved effective capacity utilisation of 90 per cent during the quarter.

DIVIDEND

The Board of Directors at their meeting held today have recommended a dividend of 380% at the rate of Rs.38/- per equity share of face value of Rs.10/- per share, aggregating Rs.1,096.95  crores. In terms of the provisions of the Finance Act, 2020, the dividend shall be taxed in the hands of shareholders at applicable rates of tax and the Company shall withhold tax at source appropriately.

CAPEX

UltraTech’s current expansion program is on track and estimated to be completed by the end of FY23.

SUSTAINABILITY

In line with its continuing endeavour towards enhancing environment conservation measures, the Company commenced 42 MW of WHRS capacity during the year. With this, the Company’s total WHRS capacity stands augmented to 167 MW covering nearly ~16 per cent of its current power needs. This is expected to increase to 280 MW by the end of FY23, after completing the on-going expansions. UltraTech remains focused on accelerating the decarbonisation of its operations.

GOING FORWARD

UltraTech’s capital and financial resources remain fully protected and its liquidity position is adequately covered. Most importantly, it continues to remain committed to all its business associates. Rural and urban demand is also expected to pick up going forward. All of this augur well for the Company.

About UltraTech Cement Limited

UltraTech Cement Limited is the cement flagship company of the Aditya Birla Group. A USD 5.9 billion building solutions powerhouse, UltraTech is one of the largest manufacturers of grey cement, ready mix concrete (RMC) and white cement in India. UltraTech is the third largest cement producer in the world, excluding China. The Company’s business operations span UAE, Bahrain, Sri Lanka and India. UltraTech is a founding member of Global Cement and Concrete Association (GCCA). It is a signatory to the GCCA Climate Ambition 2050 and has committed to the Net Zero Concrete Roadmap announced by GCCA.

UltraTech Cement Limited

Regd. Office: Ahura Centre, B-Wing, 2nd Floor,
Mahakali Caves Road, Andheri (East), Mumbai 400093
Tel.: 022 66917800 Fax: 022 66928109|
Website: www.ultratechcement.com / www.adityabirla.com
CIN: L26940MH2000PLC128420