UltraTech Cement, an Aditya Birla Group company, reported that its revenue on a like-to-like basis was up 7 per cent at Rs 4,490 crore (Rs 4,206 crore) in the fourth quarter of the financial year 2010-11 even as its sales grew marginally to 10.37 million tonnes (10.29 mt). Profit before interest and tax (PBIT) was up 5 per cent at Rs 904 crore (Rs 858 crore).

(The company said the results for the quarter and the year had been recast to include Samruddhi Cement Ltd's performance. Samruddhi Cement was merged with UltraTech in July 2010.)

The company has announced a dividend of Rs 6 a share aggregating to an outgo of Rs 191 crore, including a corporate tax on dividend amounting to Rs 27 crore.

Mr K.C. Birla, Chief Financial Officer, UltraTech Cement, said though realisations were higher by 8 per cent, the company has to trim production to match the fall in demand. Quarter-on-quarter basis, the realisations are up 12 per cent, he added.

Variable cost in FY'11 increased by 13 per cent on account of escalation in the costs of inputs such as flyash, slag and energy, he said.

In the financial year ended 2010-11, sales were down marginally by 2 per cent at Rs 13,210 crore (Rs 13,442 crore). PBIT was down 38 per cent at Rs 2,063 crore (Rs 3,319 crore).

The company has a capital outlay of about Rs 11,000 crore to be spent over the next three years for setting up additional clinkerisation plants at Chhattisgarh and Karnataka together with grinding units, bulk packaging terminals and ready mix concrete plants across the country. Orders have been placed for major equipment for setting up the projects. These expansions are expected to be operational from FY'14 and will enhance cement capacity by 9.2 mtpa from 52 mtpa.

The company's shares on BSE were up 2 per cent at Rs 1,061 on Tuesday.

Related Topics
comment COMMENT NOW