Chennai: Aditya Birla Group’s UltraTech Cement Ltd on Friday said it closed the third quarter of FY24 with consolidated net sales of Rs 16,487 crore, compared to Rs 15,299 crore in the same period last year.
Profit after tax was Rs 1,777 crore, the highest ever quarterly PAT, compared to Rs 1,058 crore in Q3FY23.
During the quarter under review, domestic gray cement sales volumes grew by 5 per cent YoY and 1 per cent QoQ respectively. The company said EBITDA margins improved as a result of better operating efficiencies, lower fuel and raw material costs.
During the quarter under review, the company acquired 0.54 MTPA cement grinding assets of Burnpur Cement Limited located at Patratu, Jharkhand for Rs 169.79 crore, marking its entry into the state of Jharkhand.
The company has successfully completed the first phase of capacity expansion announced in December 2020. Work on Phase II of 22.6 MTPA, announced in June, 2022, is in full swing and will be commissioned during the current quarter, ahead of schedule.
For the third phase of addition of 21.9 MTPA, announced in October 2023, large orders have already been placed with key technology suppliers and civil work has started at some locations.
UltraTech Cement said applications for the proposed acquisition of 10.75 MTPA cement assets of Kesoram Industries Ltd have been filed with the stock exchanges and it will be consolidated with the company upon receipt of all regulatory approvals.
Upon completion of these expansions/acquisitions, the company’s capacity will increase to 195.4 MTPA including operations in UAE, positioning it as the world’s third largest cement company outside China and by far the largest cement company in India. Will become stronger.
