Udaipur Cement Works (UCWL), a subsidiary of JK Lakshmi Cement, has reported a growth of 4.13 per cent in its net consolidated profit during the quarter March 31, 2023. Its profit after tax stood at Rs 16.89 crore in Q4 FY23 as against Rs 16.22 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 294.84 crore in Q4 FY23, a growth of 15.75 per cent from Rs 254.72 crore it recorded in the similar quarter last year.
Vinita Singhania, chairperson of the company said, “despite considerable pressures on the margins on accoimt of the unabated increase in the fiiel cost, the company has been able to record satisfactory performance by improving its various Efficiency parameters & better the Product Mix & Geo Mix.”
UCWL proposes to go for the rights issue of upto Rs 450 crores to part-finance its on-going cement expansion project in June/July 2023.
During the current quarter, the company commissioned a floating solar power plant of 1 MW in Rajasthan. This has resulted in the increase in the share of total renewable energy of the company to 48% of its total power requirement.
As on March 31, 2023, the company’s net worth stood at Rs 345.81 crore, debt-equity ratio was 3.31, total debts to total assets was 0.64, operating margin was 15% and net profit margin was 6%.
Sales volume increased by 4% to 20.35 lakh tonnes in FY23 from 19.49 lakh tonnes in FY22, net sales increased by 18% in FY23, company achieved clinker production of 14.44 lakh tonnes in FY23 with a capacity utilisation of 97%. Work on the expansion project of 2.50 million tonnes cement plant is on full swing as per schedule. The project is expected to be commissioned in the second quarter of FY25. The clinkerisation line of 1.50 million tonnes per annum is expected to be commissioned ahead of the schedule during the third quarter of FY24.
