UltraTech Cement's net profit dips 35.55% in Q2 FY25

22 Oct 2024 CW Team

UltraTech Cement has reported a dip of 35.55 %in its net consolidated profit during the quarter ended September 30, 2024. Its profit after tax stood at Rs 8.25 billion as against Rs 12.80 billion it recorded in the corresponding quarter of the previous fiscal, the company said in a BSE filing. The company's net consolidated total income stood at Rs 158.55 billionin Q2 FY25, a dip of two from Rs 161.79 billion it recorded in the similar quarter last year. As on September 30, 2024, the company's net worth stood at Rs 627.69 billion, debt-equity ratio was 0.25, total debt to total assets ration was 15%, current liability ratio was 45%, operating margin was 13% and net profit margin was 5%. The board of directors based on a proposal received from the promoters and members of the promoter group of The India Cements (India Cements) and another shareholder approved the following: a. Acquisition of up to 10,13,91,231 equity shares representing 32.72% of the equity share capital of India Cements at a price of Rs. 390 per equity share aggregating to a total consideration of Rs 39.54 billion. b. Making an open offer for up to 8,05,73,273 equity shares constituting 26¾ of the equity share capital of India Cements, at a price of Rs 390 per equity share, from the public shareholders of the target. The company achieved capacity utilisation of 68% during the quarter. Domestic sales volume grew three %year-on-year on a consolidated basis. 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. 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.

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