UltraTech Acquires Equity in Duqm Cement Project International, LLC
UltraTech Cement Middle East Investments (UCMEIL) a wholly-owned subsidiary of UltraTech Cement, has entered into a share sale and purchase agreement with Seven Seas Company LLC, Oman for acquisition of 70% equity shares in Duqum Cement Project International LLC, the Company said. The total cost of acquisition of $2.25 mn. The company had reported a dip of 37.87 crore in its net consolidated profit during the quarter ended December 31, 2022. Its profits after tax (PAT) stood at Rs 1,062. 58 crore in Q3 FY23 as against Rs 1,710.14 crore it registered in the corresponding quarter of the previous fiscal it said in the regulatory filing. Its net consolidated income stood at Rs 15, 647. 52 crore in Q3 FY23, a growth of 19.85 percent from Rs 13,055.43 crore it recorded in the similar quarter last year. As on December 31, 2022 its net worth stood at Rs 52, 602 crore, debt-equity ratio was 0.21 total debt to total assets was 13% operating margin was 15% and net profit margin was 7%. During these three months ended December 31, 2022 UltraTech Cement allotted 5.5 equity shares of Rs 10 each to option guarantee’s upon exercise of options under the company’s employees stock option under the company’s employees stock option schemes-2013. As a result of such allotment the paid-up equity share capital of the company has increased from 28, 86, 71, 933 equity shares off Rs 10 each to 28, 86, 77 471 equity shares of Rs 10 each, it said in regulatory filing.
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