UltraTech Cement announces financial results for year ended 31 March 2016
25 April, 2016
Share25 April 2016
| (Rs. in crores) | |||||||||
| Consolidated | Standalone | ||||||||
| Quarter ended | Year ended | Quarter ended | Year ended | ||||||
| 31.03.16 | 31.03.15 | 31.03.16 | 31.03.15 | 31.03.16 | 31.03.15 | 31.03.16 | 31.03.15 | ||
| Net sales | 6,850 | 6,517 | 25,281 | 24,056 | 6,436 | 6,133 | 23,841 | 22,648 | |
| PBIDT | 1,478 | 1,435 | 5,109 | 4,776 | 1,390 | 1,362 | 4,851 | 4,567 | |
| PAT | 723 | 657 | 2,287 | 2,098 | 681 | 615 | 2,175 | 2,015 | |
UltraTech Cement Limited, an Aditya Birla Group company today announced its financial results for the quarter ended 31 March 2016 and the financial year 2015-16.
Operations
Domestic cement registered a growth of 15 per cent during Q4FY16. Grey cement sales were 46.93 MnT (43.38 MnT) for the full year and 13.20 MnT (11.51 MnT) for Q4FY16. White cement and wall care putty recorded sales of 13.12 LmT (12.24 LmT) during FY16 and 3.85 LmT (3.52 LmT) for the quarter ended 31 March 2016, respectively.
The operating costs reduced with operational efficiencies, a judicious fuel mix and fall in fuel prices.
Financial performance
Q4FY16
Net sales stood at Rs.6,850 crore vis-à-vis Rs. 6,517 crore in the corresponding period of the previous year. Profit before interest, depreciation and tax is Rs.1,478 crore as against Rs.1,435 crore. Profit after Tax at Rs.723 crore was higher by 10 per cent as compared to Rs. 657 crore in the corresponding period of the previous year.
FY16
Net sales at Rs.25,281 crore are up from Rs.24,056 crore. Profit before interest, depreciation and tax at Rs.5,109 crore was 7 per cent higher than Rs.4,776 crore and Profit after Tax at Rs.2,287 crore was 9 per cent higher as compared to Rs.2,098 in FY15.
On a standalone basis the company achieved net sales of Rs.23,841 crore (Rs.22,648 crore). Profit before Interest, Depreciation and Tax is Rs.4,851 crore and Profit after Tax is Rs.2,175 crore vis-a-vis Rs.4,567 crore and Rs.2,015 crore respectively.
Dividend
The Board of Directors at their meeting held today have recommended a dividend of 95 per cent, at the rate of Rs.9.50 per share of face value of Rs.10 each aggregating Rs.260.71 crore. The company will absorb the corporate tax on dividend amounting to Rs.53.07 crore, resulting in a total payout of Rs.313.78 crore.
Capex
The company’s on-going capex program is on track. With the commissioning of 26 MW capacity waste heat recovery systems across its operating units, power generation from waste heat recovery stands augmented to 59 MW. Further, upon commissioning of the cement grinding plants at Jhajjar in Haryana, Dankuni in West Bengal and Patliputra in Bihar, the company’s cement capacity in India is enhanced to 66.3 MTPA. The company also commissioned a 2.0 MTPA cement packaging terminal on the outskirts of Pune, Maharashtra.
Corporate Developments
The company entered into definitive agreements with Jaiprakash Associates Limited for the acquisition of identified cement plants of JAL in the states of Madhya Pradesh, Uttar Pradesh, Himachal Pradesh, Uttarakhand and Andhra Pradesh having capacity of 21.20 MTPA at an enterprise value of Rs.15,900 crore.
Outlook
Cement demand is expected to grow 7-8 per cent for next year on the back of the Government’s focus on infrastructure development, housing, smart cities etc., all of which augur well for the company. UltraTech Cement is confident of meeting the demand upsurge and participating proactively in the next phase of growth in India.
