On consolidated basis
Quarter
ended March 2022 compared with Quarter ended March 2021.
Net sales (including other operating income) of UltraTech Cement has increased
9.45% to Rs 15767.28 crore.
Operating profit margin has declined
from 25.62% to 19.49%, leading to 16.74% decline in operating profit to Rs
3,072.75 crore. Raw material cost as a % of total sales (net of
stock adjustments) decreased from 13.60% to 13.45%. Purchase of finished
goods cost rose from 1.97% to 2.96%. Employee cost decreased from
4.32% to 4.02%. Other expenses rose from 54.13% to 59.88%.
Power and Oil fuel cost rose from 19.03% to 25.43%.
Freight charges fell from 23.14% to 22.30%.
Other income rose 53.14% to Rs 92.39
crore. PBIDT fell 15.61% to Rs 3165.14 crore. Provision
for interest fell 45.30% to Rs 206.31 crore. Loan funds declined
from Rs 21,719.39 crore as of 31 March 2021 to Rs 11,298.80 crore as of 31
March 2022. Inventories rose to Rs 5,595.58 crore as of 31 March
2022 from Rs 4,017.97 crore as of 31 March 2021. Sundry debtors were
higher at Rs 3,071.61 crore as of 31 March 2022 compared to Rs 2,571.73 crore
as of 31 March 2021. Cash and bank balance declined from Rs 2,007.55
crore as of 31 March 2021 to Rs 359.18 crore as of 31 March
2022. Investments declined from Rs 12,178.11 crore as of 31 March
2021 to Rs 6,335.77 crore as of 31 March 2022.
PBDT fell 12.29% to Rs 2958.83
crore. Provision for depreciation rose 0.77% to Rs 703.36
crore. Fixed assets increased to Rs 54,022.03 crore as of 31 March
2022 from Rs 50,878.44 crore as of 31 March 2021. Intangible assets
increased from Rs 6,219.85 crore to Rs 6,250.21 crore.
Profit before tax down 15.70% to Rs
2,255.47 crore. Share of profit/loss was 83.70% lower at Rs 0.37
crore. Provision for tax was credit of Rs 197.99 crore, compared to
debit of Rs 864.85 crore. Effective tax rate was negative 8.78%
compared to 32.77%.
Minority interest decreased 507.27%
to Rs -6.68 crore. Net profit attributable to owners of the company
increased 38.60% to Rs 2,460.51 crore.
Equity capital increased from Rs
288.65 crore as of 31 March 2021 to Rs 288.67 crore as of 31 March
2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 59.96% as of 31
March 2022 ,compared to 59.96% as of 31 March 2021 .
Full year results analysis.
Net sales (including other operating income) of UltraTech Cement has increased
17.60% to Rs 52598.83 crore.
Operating profit margin has declined
from 25.86% to 21.89%, leading to 0.46% decline in operating profit to Rs
11,514.35 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 13.09% to 13.39%. Purchase of
finished goods cost rose from 1.90% to 2.36%. Employee cost
decreased from 5.31% to 4.78%. Other expenses rose from 53.57% to
57.73%. Power and Oil fuel cost rose from 18.82% to 22.91%.
Freight charges fell from 22.68% to 22.11%.
Other income fell 30.83% to Rs
507.81 crore. PBIDT fell 2.28% to Rs 12022.16 crore. Provision
for interest fell 36.41% to Rs 944.71 crore. Loan funds declined
from Rs 21,719.39 crore as of 31 March 2021 to Rs 11,298.80 crore as of 31
March 2022. Inventories rose to Rs 5,595.58 crore as of 31 March
2022 from Rs 4,017.97 crore as of 31 March 2021. Sundry debtors were
higher at Rs 3,071.61 crore as of 31 March 2022 compared to Rs 2,571.73 crore
as of 31 March 2021. Cash and bank balance declined from Rs 2,007.55
crore as of 31 March 2021 to Rs 359.18 crore as of 31 March
2022. Investments declined from Rs 12,178.11 crore as of 31 March
2021 to Rs 6,335.77 crore as of 31 March 2022.
PBDT rose 2.41% to Rs 11077.45
crore. Provision for depreciation rose 0.54% to Rs 2714.75
crore. Fixed assets increased to Rs 54,022.03 crore as of 31 March
2022 from Rs 50,878.44 crore as of 31 March 2021. Intangible assets
increased from Rs 6,219.85 crore to Rs 6,250.21 crore.
Profit before tax grew 3.04% to Rs
8,362.70 crore. Share of profit/loss was 22.02% lower at Rs 1.7
crore. Provision for tax was expense of Rs 1190.06 crore, compared
to Rs 2538.7 crore. Effective tax rate was 14.23% compared to
32.31%.
Minority interest decreased 704% to
Rs -10.05 crore. Net profit attributable to owners of the company
increased 35.04% to Rs 7,184.39 crore.
Equity capital increased from Rs
288.65 crore as of 31 March 2021 to Rs 288.67 crore as of 31 March
2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 59.96% as of 31
March 2022 ,compared to 59.96% as of 31 March 2021 .
Cash flow from operating activities
decreased to Rs 9,283.24 crore for year ended March 2022 from Rs 12,500.43
crore for year ended March 2021. Cash flow used in acquiring fixed
assets during the year ended March 2022 stood at Rs 5,613.41 crore, compared to
Rs 1,922.39 crore during the year ended March 2021.
Capital
Expenditure:
The company`s current expansion
program is on track and estimated to be completed by the end of FY2023
Dividend: The Board of Directors have recommended a
dividend of Rs 38/- per equity share.
Outlook:
The company`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. Rural and urban demand is also expected to pick up going forward.
All of this augur well for the company.
| UltraTech Cement : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 15,767.28 | 14,405.61 | 9.45 | 52,598.83 | 44,725.80 | 17.60 | | OPM (%) | 19.49 | 25.62 | -613 bps | 21.89 | 25.86 | -397 bps | | OP | 3,072.75 | 3,690.40 | -16.74 | 11,514.35 | 11,567.91 | -0.46 | | Other Inc. | 92.39 | 60.33 | 53.14 | 507.81 | 734.17 | -30.83 | | PBIDT | 3,165.14 | 3,750.73 | -15.61 | 12,022.16 | 12,302.08 | -2.28 | | Interest | 206.31 | 377.18 | -45.30 | 944.71 | 1,485.65 | -36.41 | | PBDT | 2,958.83 | 3,373.55 | -12.29 | 11,077.45 | 10,816.43 | 2.41 | | Depreciation | 703.36 | 698.02 | 0.77 | 2714.75 | 2700.23 | 0.54 | | PBT | 2,255.47 | 2,675.53 | -15.70 | 8362.7 | 8116.2 | 3.04 | | Share of Profit/(Loss) from Associates | 0.37 | 2.27 | -83.70 | 1.7 | 2.18 | -22.02 | | PBT before EO | 2255.84 | 2677.8 | -15.76 | 8364.4 | 8118.38 | 3.03 | | EO Income | 0 | -38.82 | - | 0 | -260.74 | - | | PBT after EO | 2255.84 | 2638.98 | -14.52 | 8364.4 | 7857.64 | 6.45 | | Taxation | -197.99 | 864.85 | LP | 1190.06 | 2538.7 | -53.12 | | PAT | 2453.83 | 1774.13 | 38.31 | 7174.34 | 5318.94 | 34.88 | | Minority Interest (MI) | -6.68 | -1.1 | -507.27 | -10.05 | -1.25 | -704.00 | | Net profit | 2460.51 | 1775.23 | 38.60 | 7184.39 | 5320.19 | 35.04 | | P/(L) from discontinued operations net of tax | 159.92 | 0 | - | 159.92 | 142.91 | 11.90 | | Net profit after discontinued operations | 2620.43 | 1775.23 | 47.61 | 7344.31 | 5463.1 | 34.43 | | EPS (Rs)* | 78.36 | 62.40 | 25.57 | 248.88 | 190.41 | 30.70 | | | * EPS is on current equity of Rs 288.67 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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