22nd April, 2013
Financial Results for year ended 31st March, 2013
UltraTech Cement, an Aditya Birla Group company today announced its financial results for the year ended 31st March, 2013.
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| Year ended | Quarter ended | |||
|---|---|---|---|---|
| 31.03.13 | 31.03.12 | 31.03.13 | 31.03.12 | |
| Net Sales | 20,018 | 18,158 | 5,389 | 5,334 |
| PBIDT | 4,980 | 4,519 | 1,383 | 1,464 |
| PAT | 2,655 | 2,446 | 726 | 867 |
Financials –; FY13
Net Sales stood at Rs.20,018 crores as compared to Rs.18,158 crores in the corresponding period of the previous year. Profit before interest, depreciation and tax is Rs.4,980 crores as against Rs.4,519 crores. Profit after Tax is Rs.2,655 crores (including additional deferred tax liability consequent to increase in surcharge on income tax – Rs. 87 crores) compared to Rs.2,446 crores in FY12.
The combined cement and clinker sales of grey cement remained flat at 40.7MMT, while for white cement it is 5.7LMT (5.6LMT).
The year witnessed continuing pressure on input and logistics costs, given the increase in railway freight and hike in diesel prices though there was some relief on account of softening in prices of imported coal.
Financials –; Q4FY13
Net Sales stood at Rs.5,389 crores as compared to Rs.5,334 crores in the corresponding period of the previous year. Profit before interest, depreciation and tax is Rs.1,383 crores as against Rs.1,464 crores. Profit after Tax is Rs.726 crores (including additional deferred tax liability consequent to increase in surcharge on income tax – Rs. 87 crores) compared to Rs.867 crores in FY12.
The combined cement and clinker sales of grey cement was almost flat at 11.13 MMT, while for white cement it is 1.56 LMT (1.63 LMT).
Dividend
The Board of Directors at their meeting held today recommended a dividend of 90%, at the rate of Rs.9 /- per share of face value of Rs.10/- each aggregating Rs.246.76 crores. The Company will absorb the Corporate Tax on dividend amounting to Rs.41.94 crores, resulting in a total payout of Rs.288.70 crores.
Capex
The Company has initiated projects across many of its locations. Of these the following projects have been commissioned –;
- clinkerisation plant of 3.30 Mn.Mt. at Rawan, Chhattisgarh,
- grinding unit of 1.55 Mn.Mt. at Hotgi, Maharashtra,
- increase in cement grinding capacity by 0.60 Mn.Mt. at its plant in Gujarat
- bulk terminal at Cochin, Kerala and
- wall care putty plant at Katni, Madhya Pradesh
With the commissioning of these projects, the cement capacity of the Company has increased from 48.75Mn.Mt to 50.90Mn.Mt.
The clinkerisation plant of 3.30 Mn.Mt in Karnataka is expected to go on stream in Q1FY14.
The Company is committed to growth and towards this end, the Board at its meeting held today has approved the expansion of capacity at Aditya Cement Works in Rajasthan by 2.9 Mn.Mt including the setting up of two grinding units. This expansion envisages a capital outlay of around Rs.2,000 crores to be funded through a mix of internal accrual and borrowings. The additional facility is expected to be commissioned by March, 2015.
With the commissioning of the aforementioned and other projects which are in the pipeline, the Company’s cement capacity will rise to 61.45 Mn. Mt.
Outlook
Long term cement demand is likely to grow over 8% in line with GDP growth. The value drivers for growth will continue to be housing demand and infrastructure development.