27 July 2011
Financial Results for the Quarter ended 30 June 2011
|Rs. in crore|
# LFL = like for like
UltraTech Cement Limited, an Aditya Birla Group Company, today announced its unaudited financial results for the quarter ended 30 June 2011. The results for Q1FY11 have been recasted to include Samruddhi Cement Limited’s performance for a like-for-like comparison. The results are strictly not comparable with the corresponding period of the previous year.
Net Sales stood at Rs.4,365 crores as compared to Rs.3,990 crores in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax is Rs.1,254 crores and Profit after Tax is Rs.683 crores vis-a-vis Rs.1,086 crores and Rs.558 crores respectively, in the corresponding period of the previous year.
The combined domestic cement and clinker sales of grey cement was 9.46 million tonnes (9.61 MnT) while it was 1.95 lakh metric tonnes (1.94 LmT) for white cement and wall care putty.
The quarter was adversely impacted by the 30 per cent increase in the domestic coal price in March, 2011. Alongside, imported coal price rose by 30 per cent YoY resulting in a substantial escalation in costs.
The Company has a capital outlay of over Rs.11,000 crores to be spent over the next three years. The capex pertain to a number of projects. These include – clinkerisation plants through brownfield expansion at Chhattisgarh and Karnataka together with additional grinding units; installing waste-heat recovery systems; instituting bulk packaging terminals and setting up of ready-mix concrete plants. Orders have been placed for major equipment for setting up of the projects. These expansions are expected to be operational by Q1FY14 and will enhance the Company’s cement capacity by 9.2 mtpa.
These projects will be funded through a judicious mix of internal accruals and borrowings.
The surplus scenario is likely to continue over the next 2 to 3 years resulting in the selling prices remaining under pressure. With commodity prices rising, input costs will be affected, which will squeeze margins.
About UltraTech Cement Limited
UltraTech Cement Limited, an Aditya Birla Group Company is a public company, listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
UltraTech has an annual capacity of 52 million tonnes. It manufactures and markets Ordinary Portland cement, Portland blast furnace slag cement, Portland Pozzolana cement, Ready Mix Concrete, White cement and Wall care putty.
The Company has 11 integrated plants, 1 white cement plant, one clinkerisation plant in UAE, 15 grinding units –; 11 in India, 2 in UAE, 1 each in Bahrain and Bangladesh and five terminals — 4 in India and 1 in Sri Lanka.
UltraTech is the country’s largest exporter of cement and clinker. The export markets span countries around the Indian Ocean, Africa and the Middle East.
Statements in this “Press Release” describing the Company’s objectives, projections, estimates, expectations or predictions may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied. Important factors that could make a difference to the Company’s operations include demand supply conditions, finished goods prices, feed stock availability and prices, cyclical demand and pricing in the company’s principal markets, changes in Government regulations, tax regimes, economic developments within India and the countries within which the Company conducts business and other factors such as litigation and labour negotiations. The Company assumes no responsibility to publicly amend, modify or revise any forward looking statement on the basis of any subsequent development, information or events, or otherwise.
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