UltraTech Cement announces financial results for year ended 31 March 2017
24 April, 2017
Share| Consolidated | Standalone | |||||||
|---|---|---|---|---|---|---|---|---|
| Quarter ended | Year ended | Quarter ended | Year ended | |||||
| 31.03.17 | 31.03.16 | 31.03.17 | 31.03.16 | 31.03.17 | 31.03.16 | 31.03.17 | 31.03.16 | |
| Net sales | 6,922 | 6,747 | 25,092 | 24,880 | 6,500 | 6,332 | 23,616 | 23,440 |
| PBIDT | 1,577 | 1,605 | 5,861 | 5,365 | 1,518 | 1,517 | 5,629 | 5,107 |
| PAT | 726 | 818 | 2,715 | 2,478 | 688 | 781 | 2,628 | 2,370 |
UltraTech Cement, an Aditya Birla Group company today announced its financial results for the year ended 31 March 2017.
Operations
Domestic grey cement sales was 47.62 MnT (47.13 MnT) for the full year and 13.35 MnT (13.32 MnT) for Q4FY17. White cement and wall care putty recorded sales of 13.18 LmT (13.12 LmT) during FY17 and 3.86 LmT (3.85 LmT) for the quarter ended 31 March 2017.
Financial performance
Q4FY17
Consolidated sales at Rs.6,922 crore rose 3 per cent vis-à-vis Rs.6,747 crore for the corresponding period of the previous year. Profit before interest, depreciation and tax is Rs.1,577 crore, against Rs.1,605 crore. Profit after Tax is Rs.726 crore as compared to Rs.818 crore in the corresponding period of the previous year.
On a standalone basis, net sales stood at Rs.6,500 crore as compared to Rs.6,332 crore in the corresponding period of the previous year. Profit before interest, depreciation and tax is Rs.1,518 crore and Profit after Tax is Rs.688 crore vis-a-vis Rs.1,517 crore and Rs.781 crore respectively.
FY17
Consolidated sales stood at Rs.25,092 crore against Rs.24,880 crore in the previous year. Profit before interest, depreciation and tax at Rs.5,861 crore is 9 per cent higher than Rs.5,365 crore and Profit after Tax at Rs.2,715 crore is 10 per cent higher as compared to Rs.2,478 in FY16. On a standalone basis, net sales stood at Rs.23,616 crore as compared to Rs.23,440 crore in the previous year. Profit before Interest, Depreciation and Tax is Rs.5,629 crore and Profit after Tax is Rs.2,628 crore vis-a-vis Rs.5,107 crore and Rs.2,370 crore respectively.
Dividend
The Board of Directors at their meeting held today recommended a dividend of 100 per cent, at the rate of Rs.10 per share of face value of Rs.10 each aggregating Rs.274.51 crore. The company will absorb the Corporate Tax on dividend amounting to Rs.55.88 crore, resulting in a total payout of Rs.330.39 crore.
Capex
Work on setting up the 3.5 mtpa integrated cement plant at Dhar, Madhya Pradesh is on track. Commercial production is expected to commence from Q4FY19. During the year the company has commissioned grinding units at Nagpur, Maharashtra and Patliputra, Bihar.
With this expansion and the acquisition of the cement plants of Jaiprakash Associates Limited, the company’s cement capacity will stand augmented to 95.4 mtpa, including its overseas operations.
Corporate developments
The Scheme of Arrangement between the company, Jaiprakash Associates Limited (‘JAL’), Jaypee Cement Corporation Limited (‘JCCL’) and their respective shareholders and creditors (“the Scheme”), for the acquisition of the identified cement plants of JAL and JCCL has received the sanction of the National Company Law Tribunal, Mumbai Bench and the Allahabad Bench and also of the Securities and Exchange Board of India. A joint application for transfer of mineral concessions from JAL and JCCL to the company has been preferred with the respective State Government offices.
