UltraTech Cement has reported a growth of 35.24 per cent in its net consolidated profit during the quarter ended March 31, 2024. Its profit after tax stood at Rs 2,258.58 crore in Q4 FY24 as against Rs 1,670.10 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s consolidated net total income stood at Rs 20,554.55 crore in Q4 FY24, a growth of 9.43 per cent from Rs 18,783.89 crore it recorded in the similar quarter last year.The board of directors recommended a dividend of 700% at the rate of Rs. 70 per equity share of Rs. 10 each for the year ended March 31, 2024.
As on March 31, 2024, its net worth stood at Rs 60,283.42 crore, debt equity ratio was 0.17, total debts to total assets ratio was 10%, current ratio was 1.06%, current liability ratio was 54%, operating margin was 20% and net profit margin was 11%.
The scheme of amalgamation of UltraTech Nathdwara Cement, a wholly-owned subsidiary of the company and its wholly-owned subsidiaries viz. Swiss Merchandise Infrastructure and Merit Plaza is effective from April 20, 2024.
Consolidated net sales at Rs 20,069 crore recorded a growth of 9% vis-a-vis Rs 18,436 crore in the corresponding period of the previous year.
UltraTech recorded volume growth of 13% during FY24, backed by 11% during Q4 FY24 and achieved full year ebidta/mt of Rs 1,101. Coal and petcoke (fuel) prices witnessed a drop during FY24. The company’s imported fuel consumption cost during Q4FY24 was 13% lower than Q4FY23 and it remained flat QoQ. Effective capacity utilization was 98% during the quarter and 85% for the full year .
During FY24 the company’s net debt increased by Rs 77 crore after spending over Rs. 9,400 crores on capex.
During the year, UltraTech added 13.27 mtpa grey cement capacity across locations. It further commissioned greenfield cement capacities at Karur, Tamil Nadu and Kukurdih, Chhattisgarh of 2. 7 mtpa each, aggregating to 5.4 mtpa in April, 2024.With the acquisition of the Parli grinding unit, the ongoing expansion of 36.2 mtpa across locations and the proposed acquisition of Kesoram Cement, UltraTech’s grey cement capacity will stand augmented to 199.6 mtpa, including its overseas capacity of 5.4 mtpa.