UltraTech Cement Limited announced its financial results for the quarter and year ended 31st March 2025. Consolidated sales volumes for the quarter reached 41.02 million metric tonnes, reflecting a 17% year-on-year growth. Excluding recently acquired assets, operating EBITDA stood at Rs 1,270 per metric tonne, up 7% YoY and 32% QoQ. Additionally, the company surpassed 1 GW of renewable power capacity for captive use, becoming one of the first industrial companies in India to achieve this milestone.
Consolidated Net Sales was Rs 22,788 crores, vis-à-vis Rs 20,069 crores in the corresponding period of the previous year. Profit before interest, depreciation and tax was Rs 4,721 crores compared to Rs 4,250 crores in the corresponding period of the previous year. Profit after tax was Rs 2,482 crores compared to a profit of Rs 2,258 crores in the corresponding period of the previous year.
The Company achieved sales volumes of 135.83 million mt for the year, one of the highest globally (excluding China). Consolidated Net Sales for the year reached Rs 74,936 crores, up from Rs 69,810 crores last year. Profit before interest, depreciation, and tax was Rs 13,302 crores, a slight decrease from Rs 13,586 crores in the previous fiscal year. UltraTech added 42.60 mtpa through organic and inorganic growth during FY25, resulting in profit after tax decreasing to Rs 6,039 crores from Rs 7,005 crores due to increased interest and depreciation.
Energy costs were 14% lower year over year, mainly due to the decrease in fuel costs, which were Rs 881/t in Q4FY25 compared to Rs 1025/t in Q4FY24. Effective capacity utilization was 89% during the quarter and 78% throughout the year.
The Board of Directors, recommended a dividend of 775% at the rate of Rs 77.50 per equity share of face value of Rs 10 per share, aggregating Rs 2,283.75 crores. In terms of the provisions of the Finance Act 2020, the dividend shall be taxed in the hands of shareholders at applicable rates of tax, and the Company shall withhold tax at source appropriately.
UltraTech’s expansion program is progressing as per schedule. As part of its ongoing capacity expansion program, UltraTech commissioned 17.40 mtpa capacity across several locations in the country during FY25. It also set up its first bulk terminal in Uttar Pradesh in Lucknow, which has a capacity of 1.8 mtpa of cement.
UltraTech’s domestic grey cement capacity has increased to 183.36 mtpa, consolidated. Together with its overseas capacity of 5.4 mtpa, the Company’s global capacity stands at 188.76 mtpa.
Upon receipt of unconditional approval from the Competition Commission of India, UltraTech acquired the equity stake of the erstwhile promoters and members of the promoter group of The India Cements Limited (“ICEM”), resulting in ICEM becoming a subsidiary company with effect from 24th December 2024. Additionally, UltraTech made an open offer to the public shareholders of ICEM to acquire equity shares representing 26% of ICEM’s equity share capital. Consequently, UltraTech’s total shareholding in ICEM stands at 25,25,29,160 equity shares of Rs 10 each, representing 81.49% of ICEM’s equity share capital.
The Composite Scheme of Arrangement between Kesoram Industries Limited (“Kesoram”) and the Company became effective on 1st March 2025. The appointed date of the scheme is 1st April 2024, from which date Kesoram’s cement business will be transferred to and vested in the company as a going concern. In terms of the Scheme, UltraTech allotted 59,74,301 equity shares of Rs 10 each to shareholders of Kesoram in the ratio of 1 (one) equity share of Rs 10 each of the Company for every 52 (fifty-two) equity shares of Rs 10 each held in Kesoram.
In a separate development, UltraTech’s Board approved the acquisition of 6,42,40,000 equity shares of Rs 10 each of Wonder WallCare Private Limited (“Wonder WallCare”), engaged in the manufacture of wall putty and related products for an Enterprise Value not exceeding Rs 235 crores. Upon completion of the acquisition, Wonder WallCare will become a wholly-owned subsidiary of the Company.
UltraTech was awarded in the “Circular Business Model-Matured category” within the Indian cement industry at the first Global Symposium and Awards on Resource Efficiency and Circular Economy, hosted by FICCI. The symposium's theme was “Scaling Resource Efficiency & Circular Economy: Pathway for Global Sustainability.” UltraTech demonstrated effective resource utilisation and significant contributions to enhancing resource efficiency and the circular economy through innovative initiatives, digitalisation, and technology interventions. UltraTech prioritises material circularity to address issues such as overutilisation of resources, rising costs of natural raw materials, and waste disposal. By using alternative fuels and raw materials in its manufacturing processes, UltraTech reduces the use of natural resources and minimizes landfill waste, thus conserving natural resources and lowering environmental impacts.
Continuing its commitment to enhance environment conservation measures, UltraTech added 269 MW of renewable power during the quarter. Combined with its 342 MW in Waste Heat Recovery Systems (WHRS), UltraTech’s total green energy capacity has now reached 1.363 GW, which will cover about 46% of UltraTech’s current power needs.
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