UltraTech Cement Limited, an Aditya Birla Group company today announced its financial results for the quarter ended 30th June, 2021

Another Stellar Performance

COVID-19

After a rapid recovery from the Covid-19 led disruption of the economy during FY21, the economy was hit by an unexpectedly virulent second wave, which also marginally impacted cement demand. UltraTech is monitoring the impact of the second wave of the pandemic on its operations. The Company continues to accord utmost primacy to the safety and well-being of its employees and business partners. As part of this initiative, it has undertaken a vaccination programme for all its employees and their dependents.

FINANCIALS

Consolidated Net Sales was Rs. 11,698 crores vis-à-vis Rs.7,600 crores over the corresponding period of the previous year. Profit before interest, depreciation and tax was Rs. 3,512 crores compared to Rs. 2,357 crores. Profit before tax was Rs. 2,527 crores and Profit after tax was Rs. 1,703 crores compared to Rs. 1,153 crores and Rs. 794 crores, respectively.

Production costs during the quarter increased 11% YoY, mainly on account of higher fuel prices. The Company continues to maintain a tight control on costs and cash flow with focus on operational efficiencies. This has enabled UltraTech to achieve an effective capacity utilisation of 73% during the quarter as against 46% in Q1FY21.

SUSTAINABILITY

Commitment to reduce carbon emissions is one of the core beliefs of the Company. A manufacturing facility of the Company, situated at Reddipalayam in Tamil Nadu, has achieved the distinction of one-fourth of its fuel requirement being met by utilising waste materials sourced from local municipal corporations and industries. With the increased usage of alternative fuels, this Unit is now 16.25 times plastic positive. The Unit has also successfully reduced CO2 emission by 2,250 tonne CO2 per annum.

CAPITAL EXPENDITURE

The Company’s expansion program is on track and estimated to be completed by at the end of FY23. On completion, the capacity will be augmented to 136.25 mt. Covid did cause some delays due to labour shortages and lockdowns. However, the Company expects to commission all the projects as per the original schedule.

OUTLOOK

With projections of a likely third wave, the Company is closely monitoring the situation. It remains cautiously optimistic, given its inherent financial and operational resources and the government’s continuing thrust on infrastructure activities and housing construction.

About UltraTech Cement Limited

UltraTech Cement Limited is the cement flagship company of the Aditya Birla Group. A $ 5.9 billion building solutions powerhouse, UltraTech is the largest manufacturer of grey cement, ready mix concrete (RMC) and white cement in India. With a consolidated grey cement capacity of 116.75 MTPA, it is the third largest cement producer in the world, excluding China, and the only one globally (outside of China) to have 100+ MTPA of cement manufacturing capacity in a single country. 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, a sectoral aspiration to deliver carbon neutral concrete by 2050. UltraTech has adopted new age tools like the Science Based Targets initiative (SBTi), Internal Carbon Price and Energy Productivity (#EP100) as part of its efforts to accelerate adoption of low carbon technologies and processes across its value chain and thus reduce carbon footprint over the life cycle. UltraTech is the first company in India and the second company in Asia to issue dollar-based sustainability linked bonds. As part of its CSR, UltraTech reaches out to more than 1.6 million beneficiaries in over 500 villages across India covering areas of education, healthcare, sustainable livelihoods, community infrastructure and social causes.

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: L26940MH2000PLC