ULTRATECH CEMENT Announces Quarterly Results (3QFY21); Net Profit Up 122.8%

Mon, 25 Jan

ULTRATECH CEMENT has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

ULTRATECH CEMENT Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-19*	3 Sep-20*	3 Dec-20*	QoQ Change	YoY Change
Net Sales	Rs m	103,538	103,542	122,541	18.3%	18.4%
Other income	Rs m	1,682	1,349	2,679	98.6%	59.3%
Turnover	Rs m	105,220	104,891	125,220	19.4%	19.0%
Expenses	Rs m	83,808	76,593	91,599	19.6%	9.3%
Gross profit	Rs m	19,730	23,592	30,943	31.2%	56.8%
Depreciation	Rs m	6,730	6,724	6,739	0.2%	0.1%
Interest	Rs m	4,708	3,568	3,563	-0.2%	-24.3%
Profit before tax	Rs m	9,973	14,648	23,320	59.2%	133.8%
Tax	Rs m	2,862	5,662	7,474	32.0%	161.2%
Profit after tax	Rs m	7,112	8,987	15,846	76.3%	122.8%
Gross profit margin	%	19.1	22.8	25.3
Effective tax rate	%	28.7	38.6	32.0
Net profit margin	%	6.8	8.6	12.7

Year-on-Year Performance:

• The company's operating income during the quarter grew 18.4% on a year-on-year (YoY) basis. The expenses were up by 9.3% YoY during the same period.
• The company's operating profit increased by 56.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.3% in 3QFY21 as against 19.1% in 3QFY20.
• Depreciation charges increased by 0.1% and finance costs declined by 24.3% YoY, respectively.
• Other income increased by 59.3% YoY during the quarter.
• Net profit for the quarter increased by 122.8% YoY. Net profit margins during the quarter increased from 6.8% in 3QFY20 to 12.7% in 3QFY21.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 18.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 19.6% QoQ during the same period.
• The company's operating profit increased by 31.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.3% in 3QFY21 as against 22.8% in 2QFY20.
• Net profit for the quarter increased by 76.3% QoQ, while net profit margins increased from 8.6% in 2QFY20 to 12.7% in 3QFY21.

To see how ULTRATECH CEMENT has performed over the last eight quarters,please visit here.

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ULTRATECH CEMENT Share Price Performance

Over the last one year, ULTRATECH CEMENT share price has moved up from Rs 4,641.1 to Rs 5,535.7, registering a Gain of Rs 894.7 or around 19.3%.

Overall, the S&P BSE SENSEX is up 18.2% over the year.

Current Valuations

At the current price of Rs 5,535.7, the price to earnings (P/E) ratio of ULTRATECH CEMENT stands at 23.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.9 times.