UltraTech Cement, an Aditya Birla Group company, has announced its financial results for the year ended 31st March, 2017. Domestic grey cement sales were 47.62 MT (47.13 MT) for the full year and 13.35 MT (13.32 MT) for Q4FY17. Consolidated sales at Rs 6,922 crore went up 3 per cent vis-à-vis the Rs 6,747 crore reported for the corresponding period of the previous year.
Profit before interest, depreciation and tax was Rs 1,577 crore, against Rs 1,605 crore in the year-ago period. Profit after tax was Rs 726 crore (Rs 818 crore in the corresponding period of the previous year). Consolidated sales stood at Rs 25,092 crore against Rs 24,880 crore in the previous year.
On a standalone basis, net sales stood at Rs 23,616 crore, compared to Rs 23,440 crore in the previous year.
The Board of Directors has recommended a dividend of 100 per cent, at the rate of Rs 10 per share of face value of Rs 10 each, aggregating to Rs 274.51 crore. The company will absorb the
corporate tax on dividend amounting to Rs 55.88 crore, resulting in a total payout of Rs 330.39 crore.
UltraTech has declared that work on setting up the 3.5 MTPA integrated cement plant at Dhar, Madhya Pradesh, is on track. Commercial production is expected to commence from Q4FY19. During the year, the cement major commissioned grinding units at Nagpur and Patliputra (Bihar). With this expansion and the acquisition of the cement plants of Jaiprakash Associates Limited, the company’s cement capacity will stand augmented to 95.4 MTPA, a figure that includes UltraTech’s overseas operations.