On consolidated basis
Quarter ended June 2023 compared
with Quarter ended June 2022.
Net sales (including other operating
income) of UltraTech Cement has increased 16.97% to Rs 17737.1
crore.
Operating profit margin has declined
from 20.41% to 17.19%, leading to 1.48% decline in operating profit to Rs
3,049.18 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 13.11% to 14.39%. Purchase of
finished goods cost rose from 2.39% to 2.43%. Employee cost
decreased from 4.18% to 3.97%. Other expenses rose from 60.02% to
62.06%. Power and Oil fuel cost rose from 26.33% to 27.44%.
Freight charges rose from 21.59% to 23.06%.
Other
income rose 59.80% to Rs 173.73 crore. PBIDT rose 0.60% to Rs
3222.91 crore. Provision for interest fell 2.32% to Rs 210.75
crore.
PBDT
rose 0.81% to Rs 3012.16 crore. Provision for depreciation rose
7.75% to Rs 749.07 crore.
Profit
before tax down 1.29% to Rs 2,263.09 crore. Share of profit/loss was
374.36% higher at Rs 3.7 crore. Provision for tax was expense of Rs
576.57 crore, compared to Rs 711.4 crore. Effective tax rate was
25.44% compared to 31.02%.
Net profit attributable to owners of
the company increased 6.59% to Rs 1,688.45 crore.
Promoters’
stake was 59.96% as of 30 June 2023 ,compared to 59.96% as of 30 June 2022
.
Full year results analysis.
Net sales (including other operating
income) of UltraTech Cement has increased 20.23% to Rs 63239.98
crore.
Operating profit margin has declined
from 21.89% to 16.48%, leading to 9.51% decline in operating profit to Rs
10,419.05 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 13.39% to 14.01%. Purchase of
finished goods cost fell from 2.36% to 2.04%. Employee cost
decreased from 4.78% to 4.30%. Other expenses rose from 57.73% to
63.31%. Power and Oil fuel cost rose from 22.91% to 29.00%.
Freight charges fell from 22.11% to 21.97%.
Other
income fell 0.77% to Rs 503.88 crore. PBIDT fell 9.14% to Rs
10922.93 crore. Provision for interest fell 34.08% to Rs 622.72
crore. Loan funds declined from Rs 11,298.80 crore as of 31 March
2022 to Rs 11,057.74 crore as of 31 March 2023. Inventories rose to
Rs 6,611.83 crore as of 31 March 2023 from Rs 5,595.58 crore as of 31 March
2022. Sundry debtors were higher at Rs 3,867.02 crore as of 31 March
2023 compared to Rs 3,071.61 crore as of 31 March 2022. Cash and
bank balance rose to Rs 1,149.59 crore as of 31 March 2023 from Rs 359.18 crore
as of 31 March 2022. Investments rose to Rs 7,276.95 crore as of 31
March 2023 from Rs 6,335.77 crore as of 31 March 2022 .
PBDT
fell 7.02% to Rs 10300.21 crore. Provision for depreciation rose
6.38% to Rs 2887.99 crore. Fixed assets increased to Rs 51,705.55
crore as of 31 March 2023 from Rs 48,548.04 crore as of 31 March
2022. Intangible assets increased from Rs 11,724.20 crore to Rs
11,913.84 crore.
Profit
before tax down 11.37% to Rs 7,412.22 crore. Share of profit/loss
was 137.06% higher at Rs 4.03 crore. Provision for tax was expense
of Rs 2342.85 crore, compared to Rs 1190.06 crore. Effective tax
rate was 31.59% compared to 14.23%.
Net
profit attributable to owners of the company decreased 29.51% to Rs 5,063.96
crore.
Equity
capital increased from Rs 288.67 crore as of 31 March 2022 to Rs 288.69 crore
as of 31 March 2023. Per share face Value remained same at Rs
10.00.
Promoters’
stake was 59.96% as of 31 March 2023 ,compared to 59.96% as of 31 March 2022
.
Cash
flow from operating activities decreased to Rs 9,068.51 crore for year ended
March 2023 from Rs 9,283.24 crore for year ended March 2022. Cash
flow used in acquiring fixed assets during the year ended March 2023 stood at
Rs 6,200.11 crore, compared to Rs 5,613.41 crore during the year ended March
2022.
Operational highlights:
Domestic
sales volume grew 20% yoy with capacity utilization of 89%.
Operating
EBITDA/Mt for the quarter stood at Rs 1,034 vs Rs 1,248 in Q1FY2023 and Rs 1,060
in Q4FY2023.
Blended
cement at 70%, clinker conversion ratio improved to 1.44.
Trade
sales at 68%. Rural sales at 65% of trade - growing at 24%.
Domestic
sales volume grew 20% yoy with capacity utilization of 89%.
Operating
EBITDA/Mt of Rs 1,034 vs Rs 1,248 in Q1FY2023 and Rs 1,060 in Q4FY2023.
Commissioned
cement capacity of 3.0 MTPA, taking total grey cement capacity of the Company
to 129.95 MTPA in India.
Blended
cement at 70%, clinker conversion ratio improved to 1.44; highest so far.
Trade
sales at 68%. Rural sales at 65% of trade - growing at 24%
Premium
Eco-friendly sustainable product mix @ 21.7% of trade sales.
Expansion:
Commissioned
cement capacity of 3.0 MTPA, taking total grey cement capacity of the Company
to 129.95 MTPA in India.
Commissioned
22 MW of WHRS capacity, total WHRS capacity increased to 232 MW. Green power
mix increased to 22%.
| UltraTech Cement : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202306 | 202206 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 17,737.10 | 15,163.98 | 16.97 | 63,239.98 | 52,598.83 | 20.23 | | OPM (%) | 17.19 | 20.41 | -322 bps | 16.48 | 21.89 | -542 bps | | OP | 3,049.18 | 3,094.87 | -1.48 | 10,419.05 | 11,514.35 | -9.51 | | Other Inc. | 173.73 | 108.72 | 59.80 | 503.88 | 507.81 | -0.77 | | PBIDT | 3,222.91 | 3,203.59 | 0.60 | 10,922.93 | 12,022.16 | -9.14 | | Interest | 210.75 | 215.76 | -2.32 | 622.72 | 944.71 | -34.08 | | PBDT | 3,012.16 | 2,987.83 | 0.81 | 10,300.21 | 11,077.45 | -7.02 | | Depreciation | 749.07 | 695.19 | 7.75 | 2887.99 | 2714.75 | 6.38 | | PBT | 2,263.09 | 2,292.64 | -1.29 | 7412.22 | 8362.7 | -11.37 | | Share of Profit/(Loss) from Associates | 3.7 | 0.78 | 374.36 | 4.03 | 1.7 | 137.06 | | PBT before EO | 2266.79 | 2293.42 | -1.16 | 7416.25 | 8364.4 | -11.34 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 2266.79 | 2293.42 | -1.16 | 7416.25 | 8364.4 | -11.34 | | Taxation | 576.57 | 711.4 | -18.95 | 2342.85 | 1190.06 | 96.87 | | PAT | 1690.22 | 1582.02 | 6.84 | 5073.4 | 7174.34 | -29.28 | | Minority Interest (MI) | 1.77 | -2.06 | PL | 9.44 | -10.05 | PL | | Net profit | 1688.45 | 1584.08 | 6.59 | 5063.96 | 7184.39 | -29.51 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 159.92 | - | | Net profit after discontinued operations | 1688.45 | 1584.08 | 6.59 | 5063.96 | 7344.31 | -31.05 | | EPS (Rs)* | 58.49 | 54.87 | 6.59 | 175.41 | 248.86 | -29.51 | | | * EPS is on current equity of Rs 288.69 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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