Net sales during the quarter increased 32.7% year-on-year (YoY) to Rs 14405.61 crore. Profit before tax in Q4 FY21 stood at Rs 2638.98 crore, up 80.8% from Rs 1459.43 crore in Q4 FY20. Current tax outgo increased 93.9% to Rs 478.20 crore in Q4 FY21 over Q4 FY20.

The cement major recorded 5.1% fall in consolidated net profit to Rs 5463.10 crore on 5.4% rise in net sales to Rs 44725.80 crore in the year ended 31 March 2021 over the year ended 31 March 2021.

The company's board has recommended a dividend of Rs 37 per share for the year ended March 2021.

The company said that its recovery from the Covid-19 led disruption of the economy during FY21 has been rapid.

The ‘overheads control programme', prudent working capital management and control on cash flows were the main drivers, aided by quick revival of demand and supply side restoration. All of these have resulted in your Company's superlative performance, even during such trying times. It achieved an effective capacity utilisation of 93 % during the quarter.

UltraTech has reduced net debt / EBITDA ratio to 0.55x from 1.72x as on 31 March, 2020. The loan repayments have been made through free cash flows that the company has generated during the year, despite the challenging circumstances and severe business interruptions during Q1FY21.

The company successfully raised $400 million, corresponding to approximately Rs 2,900 crore by way of issuance of unconditional, unsubordinated and unsecured USD denominated notes due 16th February 2031 at 2.80% per annum, payable semi-annually on 16th August and 16th February of each year, commencing from 16th August, 2021 as per applicable laws. The Bonds are listed on the Singapore Exchange Securities Trading.

The cement maker's board had earlier sanctioned capacity expansion plans of 19.5 million tons through a mix of brown field and green field expansion covering 5 integrated cement plants and 12 grinding units. The additional capacity is being created in the fast-growing markets of the east, central and north regions of the country. Most of the orders for equipment have been placed and civil work has also commenced at these locations. Commercial production from these capacities is expected to go on stream in a phased manner, during FY22 and FY23.

Upon completion of the latest round of expansion, the company's capacity will grow to 136.25 mtpa, reinforcing its position as the third largest cement company in the world, outside of China.

Going forward, UltraTech's capital and financial resources remain fully protected and its liquidity position is adequately covered. Most importantly, it continues to remain committed to all its business associates.

While rural and semi-urban housing continue to drive growth, pick-up in government led infrastructure aided incremental cement demand. Pent-up urban demand is also expected to improve.

The company is closely monitoring the impact of the second wave of the pandemic on its operations. With its focus on operational efficiencies and cost control, UltraTech is better prepared for any resulting slowdown in the economy.

UltraTech is the largest manufacturer of grey cement, ready mix concrete (RMC) and white cement in India. The company's business operations span UAE, Bahrain, Sri Lanka and India.

The scrip rose 1.23% to end at Rs 6484.80 on Friday.