UltraTech Cements announces Q3FY25 Financial Results

UltraTech Cement Limited, an Aditya Birla Group company, today announced its financial results for the quarter ended 31st December, 2024. 

Upon receiving an unconditional approval from the Competition Commission of India, UltraTech acquired 10,13,91,231 equity shares of Rs.10/- each of The India Cements Limited (“ICEM”), representing 32.72% of ICEM’s equity share capital, from the former promoters and one other shareholder. With this acquisition, along with its existing shareholding of 22.77%, UltraTech’s total shareholding in ICEM has increased to 17,19,55,887 equity shares, representing 55.49% of ICEM’s equity share capital. As a result, ICEM has become a subsidiary of UltraTech, effective 24th December, 2024.

Additionally, UltraTech has made an open offer to the public shareholders of ICEM to acquire upto 8,05,73,273 equity shares of Rs.10/- each, representing 26% of ICEM’s equity share capital, at an offer price of Rs. 390/- per share. The tendering period for the offer began on 8th January, 2025 and closed on 21st January, 2025. The number of shares tendered under the open offer is more than the size of the offer. Consequently, UltraTech will accept shares tendered on a proportionate basis in consultation with the Manager to the Offer. Payment of consideration for shares accepted will be completed on or before 4th February, 2025.
 

FINANCIALS

Consolidated Net Sales was Rs. 16,971 crores vis-à-vis Rs. 16,487 crores over the corresponding period of the previous year. Profit before interest, depreciation and tax was Rs. 3,131 crores compared to Rs. 3,395 crores. Profit after tax was Rs. 1,470 crores compared to Rs. 1,777 crores.
 

OPERATIONS

UltraTech achieved a capacity utilisation of 73% during the quarter. Domestic sales volume grew 10% YoY. Energy costs were lower by 13% YoY and 4% QoQ mainly on account of decrease in fuel cost.
 

CAPITAL EXPENDITURE

UltraTech’s expansion program is progressing as per schedule.

As part of its ongoing capacity expansion program, UltraTech commissioned an additional 1.8 mtpa capacity. With the acquisition of The India Cements Limited, UltraTech’s cement capacity has increased to 171.11 mtpa, on a consolidated basis.

Upon completion of the ongoing expansion projects and the acquisition of Kesoram Cement (10.75 MTPA), UltraTech will achieve the unique milestone of more than 200 mtpa cement capacity in the country by the end of FY27.
 

SUSTAINABILITY

UltraTech is the first cement company in India to leverage National Waterways to transport a large consignment of raw materials via the National Waterway (Ganga-Bhagirathi-Hooghly River system).

The use of inland waterways over roadways and railways is expected to result in significant carbon emissions reduction. This pilot movement over National Waterway underscores UltraTech’s commitment to green logistics as a key enabler in achieving its Net Zero goal by 2050.

Continuing its stated commitment towards enhancing environment conservation measures, UltraTech commenced 16 MW of WHRS capacity during the quarter. With this, the Company’s total WHRS capacity stands augmented to 324 MW. The share of green power (including WHRS and RE Power) in the Company’s power mix is 33.4% for the quarter.
 

GOING FORWARD

The government’s focus on infrastructure and housing projects together with increased rural and urban demand, is expected to generate a sustainable volume growth of 7- 8%, going forward.

As India Build’s – India Grows! UltraTech strives to be a key partner in this journey of progress as our belief is ‘Banega toh badhega India!’