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UltraTech Cement, an Aditya Birla Group company, has reported that its net profit in Q4 FY23 was down 32 per cent at ₹1,670 crore against ₹2,454 crore in Q4 FY22 due to lower realisation and higher cost. The company has declared a dividend of ₹38 per equity share.
Income was up at ₹18,783 crore (₹15,859 crore), while overall expenses jumped to ₹16,293 crore (₹13,604 crore).
The company saw an increase in energy cost by 17 per cent year-on-year, while pet coke and coal prices increased 18 per cent. Overall, raw material cost was up 9 per cent on account of increase in the prices of fly ash, slag and gypsum, said the company.
Also read: MRPL net profit declines 10.7% to ₹2,638 crore in FY23
For the year ended March, the company’s net profit was down at ₹5,073 crore (₹7,174 crore) even as its income jumped to ₹63,743 crore (Rs 53,107 crore).
UltraTech has achieved 100 million tonne of production, dispatches and sales last financial year. This was backed by an effective capacity utilisation of 95 per cent during the reporting period and 84 per cent capacity utilisation for the whole year.
The company commissioned 12.4 mtpa additional capacity of grey cement last fiscal and added another 2.2 mtpa of brownfield cement capacity at Patliputra in April.
Work on its next phase of growth of 22.6 mtpa has already commenced and civil work is in full swing at most sites, it said. Commercial production from these new capacities is expected to go on stream in a phased manner from FY25.
Upon completion of these projects, the company’s capacity will grow to 160.45 mtpa, reinforcing its position as the third largest cement company in the world (outside of China) and the largest in India.
The company will merge its wholly-owned subsidiaries UltraTech Nathdwara Cement, Swiss Merchandise Infrastructure and Merit Plaza with itself.
The company has commissioned 43MW of waste heat recovery system (WHRS) in the year under review taking the overall capacity to 210MW accounting for 15 per cent of its current power needs.
Further, WHRS is expected to increase to 300MW by the end of this fiscal, after completing the on-going expansions, it said.
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