Net sales increased 7.77% to Rs 16,487 crore in Q3 FY24 as against Rs 15,299 crore posted in Q3 FY23.

Profit before interest, depreciation and tax (PBIDT) stood at Rs 3,395 crore in Q3 FY24, registering a growth of 37.9% from Rs 2,462 crore recorded in the same period a year ago. Profit before tax was at Rs 2,355.17 crore in Q3 FY24, up 54.21% YoY.

On operational front, the total consolidated sales volume for Q3 FY24 stood at 27.32 million tons, recording a growth of 6% YoY. Domestic sales volume grew 5% YoY to 26.06 million tons during the quarter. The firm stated that improved operational efficiencies, coupled with lower fuel and raw material costs resulted in improved EBITDA margins.

On capex front, during the quarter, the cement manufacturer acquired a 0.54 mtpa cement grinding asset of Burnpur Cement, located at Patratu in Jharkhand for a consideration of Rs 169.79 crore, marking its entry in the state of Jharkhand.

The company has completed the first phase of capacity expansion announced in December 2020. Work on the second phase of 22.6 mtpa announced in June, 2022 is in full swing and will start commissioning during the current quarter itself, ahead of schedule. The 3rd phase of growth of 21.9 mtpa has been announced in October 2023.

The cement maker stated that applications have been filed with the stock exchanges for the proposed acquisition of 10.75 mtpa cement assets of Kesoram Industries and the same will be consolidated with the company upon receipt of all regulatory approvals.

Upon completion of these expansions/acquisition, the company said its capacity will grow to 195.4 mtpa including its operations in the UAE, reinforcing its position as the third largest cement company in the world, outside of China and the largest in India by far.

In its outlook, UltraTech Cement said that given the government's focus on infrastructure growth and the consequent rising demand for urban housing, the cement sector is poised for strong growth in the coming years.

UltraTech Cement is the cement flagship company of the Aditya Birla Group. It is the third largest cement producer in the world, outside of China, with a consolidated Grey Cement capacity of 138.39 mtpa.