UltraTech Cement Q4 Results: Profit rises 36% YoY to Rs 2,258 crore, beats estimates

UltraTech Cement reported a 36% year-on-year (YoY) growth in its consolidated net profit at Rs 2,258 crore for the quarter ended March 2024. It was Rs 1,666 crore in the last year period.

The profit figure beat the ET Now Poll estimate of Rs 2,048 crore.

Revenue from operations increased 9% YoY to Rs 20,419 crore in the reporting fourth quarter.

The company's Board has also recommended a dividend of Rs 70 per share, which is 700% on the face value for the financial year 2023-2024.

On a sequential basis, the profit after tax was up 27% from Rs 1,777 crore reported in the December quarter.

EBITDA for the quarter increased 33% YoY to Rs 4,250 crore. The company posted domestic operating EBITDA/Mt of Rs 1,185, which is higher by Rs 125/Mt on a yearly basis and lower by Rs 23/Mt quarter-on-quarter (QoQ).

Domestic sales grew 11% YoY in the January-March period with a capacity utilisation of 98%.

Segment-wise, domestic grey cement revenues rose 7% YoY to Rs 17,176 crore, and White Cement's revenue increased 8% YoY to Rs 715 crore in the fourth quarter.

Operationally, the grey cement domestic volumes increased 11% YoY to 33.22 million tons, while that of white cement jumped 12% YoY to 0.53 million tons. The overall consolidated sales volume (including the overseas) was up by 11% at 35.08 million tons in the March quarter.

During the reporting period, the company commissioned a cement capacity of 7.8 mtpa, taking total grey cement capacity to 140.8 MTPA in India.

The green power mix came to about 25.7% in the fourth quarter, which is an improvement of 26% YoY and also includes WHRS power mix of 17.7% and RE power mix of 8%.

On Monday, Ultratech Cement shares were trading over 2% higher to Rs 9,929.05 on NSE.