19 January 2013

UltraTech Cement announces financial results for the quarter ended 31st December 2012
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UltraTech Cement Limited, an Aditya Birla Group company, today announced its unaudited financial results for the quarter ended 31st December 2012.

(Rs. in crores)
  Quarter ended Nine month ended
  31.12.12 31.12.11 30.09.12 31.12.12
Net sales 4,857 4,565 4,699 14,629
PBIDT 1,145 1,119 1,076 3,598
PAT 601 617 550 1,929

Net sales stood at Rs.4,857 crores as compared to Rs.4,565 crores in the corresponding period of the previous year. Profit before Interest, Depreciation and Tax (PBIDT) is Rs.1,145 crores and Profit after Tax (PAT) is Rs.601 crores vis-a-vis Rs.1,119 crores and Rs.617 crores.

The cement demand was subdued. Domestic cement sales growth of grey cement remained flat at 9.62 MnT (9.61 MnT) while it was 2.62 LmT (2.46 LmT) for white cement and wall care putty.

On the cost front, year-on-year, raw materials and logistics cost were mainly impacted due to increase in railway freight and hike in diesel prices. Energy cost, i.e., imported coal remained at US$100/t levels. The benefit of softening in coal prices was partly offset by the depreciation in rupee.

The on-going capex towards setting up of additional clinkerisation plants at Chhattisgarh and Karnataka is on track. These projects are expected to be operational by early FY14. They will augment the company’s cement capacity by 9.2 mtpa bringing it to a total of 62 mtpa.

Backed by some positive economic sentiments, the long term demand is likely to see an 8 per cent growth, with housing, infrastructure and allied spending being the key value drivers. However, the surplus scenario is expected to continue over the next three years. Input costs are likely to increase in line with general inflation with margins remaining range bound.