On a consolidated basis, the cement major's normalised net profit declined 18.52% to Rs 1,478 on 9.31% increase in net sales to Rs 15,557 crore in Q4 March 2022 over Q4 March 2021.
Profit before interest, depreciation and tax fell 15.62% to Rs 3,165 crore in Q4 March 2022 as against Rs 3,751 crore in the corresponding period of the previous year.For the full year, normalised consolidated net profit rose 2.48% to Rs 5,667 while net sales increased 16.88% to Rs 51,708 crore in the year ended March 2022 over the year ended March 2021. Profit before interest, depreciation and tax fell 2.28% to Rs 12,022 crore in FY22 as against Rs 3,751 crore in FY21.
Pursuant to completion of prior year income-tax assessments, the company has reversed accumulated provision for tax amounting to Rs 323.35 crore for the three months ended 31 December 2021 and Rs 303.92 crore for the year ended 31 March 2022. It also accrued Minimum Alternate Tax Credit Entitlement of Rs 211.86 crore for the three months ended 31 December 2021 and Rs 1213.94 crore for the year ended 31 March 2022.
The board has recommended a dividend of Rs 38 per equity share.
After a slow start to the quarter, demand improved month on month, driven by improvement in the government's various project execution. Input cost inflation remains a concern with the rise in fuel and diesel prices, UltraTech said in a statement.
The company saw an increase in energy cost by 48%, with prices of petcoke and coal doubling during the period. Raw material cost increased 7% on account of the increase in the cost of fly ash bauxite, gypsum and HSD. The company's efforts towards prudent working capital management and control on cash flows, continued relentlessly. UltraTech achieved effective capacity utilisation of 90% during the quarter.
The company said its current expansion program is on track and estimated to be completed by the end of FY23.
UltraTech Cement said its capital and financial resources remain fully protected and its liquidity position is adequately covered. Most importantly, it continues to remain committed to all its business associates. Rural and urban demand is also expected to pick up going forward. All of this augur well for the company.
UltraTech Cement, the cement flagship company of the Aditya Birla Group, is the largest manufacturer of grey cement and ready mix concrete (RMC) and one of the largest manufacturers of white cement in India. It is the third largest cement producer in the world, excluding China.
Shares of Ultratech Cement were up 1.55% at Rs 6715.15 on the BSE.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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