Aditya Birla Group’s cement flagship, UltraTech has reported strong earnings for Q1FY24 with consolidated revenue at Rs.17,519 Cr, up 16.7% YoY. The Company continues to deliver strong growth quarter after quarter, achieving a 20% volume growth during the quarter. This was following up on a 23% growth during Q4FY23, reflecting its strong position in the domestic market. Profit after tax also rose 9% for the India operations.
Some of the key highlights are: Capacity utilization was at 89% during this quarter as against 83 % during Q1FY23. Energy costs increased by 3% YoY, primarily due to currency devaluation. Raw material cost was up 6% YoY on account of increase in cost of fly ash and slag.
UltraTech has commissioned 4.3 mtpa capacity of grey cement so far this financial year. Total grey cement manufacturing capacity in India now stands at 131.25 mtpa.
Work on its next phase of growth of 22.6 mtpa has already commenced. UltraTech commenced 22 MW of WHRS capacity during the year. With this, the Company’s total WHRS capacity stands augmented to 232 MW covering ~ 22% of its current power needs.
Outlook: Demand for cement across all sectors continues to remain strong.
