1st February, 2006
24 April 2006
UltraTech reports results (unaudited) for the quarter ended 31 March 2006
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| Quarter ended 31 March 2006 | Quarter ended 31 March 2005 | |
|---|---|---|
| Net sales | 1,022 | 698 |
| PBIDT | 199 | 113 |
| Gross profit | 177 | 87 |
| Profit before tax expenses | 122 | 36 |
| Net profit | 82 | 5 |
UltraTech Cement Limited, an Aditya Birla Group Company, has reported net sales of Rs.1,022 crore for the quarter ended 31 March 2006 as against Rs.698 crore for the same period last year, resulting in an effective increase of 31 per cent (after adjusting the freight and trading sales impact).
The operating profit stood at Rs.199 crore (Rs.113 crore). After providing for interest of Rs.22 crore (Rs.26 crore), depreciation Rs.55 crore (Rs. 51 crore), provision for diminution in value of investments Rs.Nil (Rs.77 crore) and tax at Rs.40 crore {Rs.(47)crore}, the Profit after Tax stood at Rs.82 crore (Rs.5 crore).
During the period, the company produced 3.69 MMT of cement (3.42 MMT) operating at 100 per cent capacity.
Aggregate sales volumes at 4.50 MMT (3.86 MMT) was up by 17 per cent. The company continued to maintain increased share of cement in its exports mix, which constitutes 60 per cent of exports.
Power and fuel costs rose by over 8 per cent during the quarter mainly on account of increase in petro products prices.
The Board has approved an incremental capex of around Rs.490 crore towards improvement in productivity and cost efficiencies and Rs.270 crore towards setting up of another captive TPP.
Shareholders of the company have approved the Scheme of Amalgamation of Narmada Cement Company Limited (NCCL), a subsidiary of the company, in February 2006. The Scheme is now subject to the approval of BIFR, upon receipt of which shareholders of NCCL will be allotted 1(one) equity share of Rs.10/- each credited as fully paid up of the company, for every 18 (eighteen) equity shares of Rs.10/- each credited as fully paid-up of NCCL.
The outlook for the industry is indeed very encouraging and is expected to grow over 8 per cent during the current fiscal. The various initiatives taken by the government towards housing and infrastructure development is expected to generate the demand for cement.
For more information, contact:
Dr. Pragnya Ram
Group Executive President
Corporate Communications & CSR
Aditya Birla Management Corporation Private Limited
Tel: 91-22-6652 5000 / 2499 5000
Fax: 91-22-6652 5741/ 42
Email: pragnya.ram@adityabirla.com
