(Rs. in crores)

21st October, 2024: UltraTech Cement Limited, an Aditya Birla Group company today announced its financial results for the quarter ended 30^th September, 2024.

FINANCIALS

Consolidated Net Sales was Rs. 15,308 crores vis-à-vis Rs. 15,735 crores over the corresponding period of the previous year. Profit before interest, depreciation and tax was Rs. 2,239 crores compared to Rs. 2,718 crores. Profit after tax was Rs. 820 crores compared to Rs. 1,281 crores.

OPERATIONS

UltraTech achieved capacity utilisation of 68% during the quarter. Domestic sales volume grew          3% YoY on a consolidated basis despite incessant rains throughout the country this season.

Energy costs were lower by 14% YoY, while raw material costs rose 1% on account of an increase in the cost of flyash and slag.

UltraTech successfully raised US$500 million through a sustainability-linked loan with participation from six banks. The transaction marks the second sustainability-linked financing, after the inaugural sustainability-linked bond issuance in 2021. This financing signifies the ongoing commitment to align the Company’s funding strategy with its sustainability and ESG goals.

CAPITAL EXPENDITURE

UltraTech’s expansion program is progressing as per schedule.

The capacity expansion drive is on a scale that is globally unprecedented in the cement sector. With the completion of the ongoing expansion projects across India by FY27, and receipt of statutory approvals for the acquisitions of Kesoram Cement (10.75 MTPA) and The India Cements (14.45 MTPA), UltraTech’s total cement capacity will surpass 200 MTPA. This expanded manufacturing footprint will help reduce operational costs, and improve customer service, leveraging the Company’s strong nation-wide presence and its distribution network. More importantly, this scale will further enable UltraTech to service India’s growing demand for cement across the country, reinforcing UltraTech’s contribution to nation’s development.

SUSTAINABILITY

UltraTech has been ranked No. 1 in the Cement and Building Materials sector at the 4^th Edition of Business World’s India’s Most Sustainable Companies 2024 (IMSC 2024), and No. 17 out of the top 200 Companies in India. This is the fourth consecutive time UltraTech has topped the sectoral ranking, an acknowledgement of its efforts in driving sustainability across the value chain of its operations. The framework for the award examines a wide range of environmental, social, and governance (ESG) criteria to provide a holistic view of each company’s sustainability efforts.

In line with its stated commitment towards enhancing environment conservation measures, UltraTech commenced 8 MW of WHRS capacity during the quarter. With this, the Company’s total WHRS capacity stands augmented to 308 MW. The share of green power (including WHRS and RE Power) in the Company’s power mix is 32% for the quarter.

GOING FORWARD

UltraTech’s ambitious capacity expansion capitalises on the substantial long term growth potential of India’s cement sector. Its growth trajectory aligns closely with India’s broader growth story. By increasing its scale, the Company will meet the rising demand for cement nationwide. Increase in Government spending on Infrastructure sector and rising demand from the urban housing sector is expected to generate a sustainable volume growth of 7-8% in future years.

UltraTech aims to make a meaningful contribution to the nation’s progress by laying the groundwork for infrastructure that shapes modern India.