UltraTech Cement, one of India’s leading cement manufacturers, has announced that its Q3 results have surpassed market expectations, with the company achieving its highest-ever quarterly profit. The net profit of Rs 1,777 crore for the quarter ending December 2023 represents a significant growth of 68% compared to the same period last year. This remarkable performance can be attributed to various factors, including improved operational efficiencies, lower fuel and raw material costs, and increased sales volume.
The company reported a 5% year-on-year growth in domestic grey cement sales volume and a 1% sequential growth. UltraTech Cement’s consolidated net sales for the quarter reached Rs 16,487 crore, an 8% increase compared to the corresponding quarter last year. The company witnessed improved Ebitda margins, with operating Ebitda per metric tonne standing at Rs 1,208 for India operations, reflecting a 34% year-on-year increase and a 27% sequential increase.
UltraTech Cement continues to prioritise sustainable practices, with a focus on ‘green mobility’ and the introduction of electric trucks on a pilot scale for clinker transportation. During the quarter, UltraTech Cement acquired a 0.54 million tonnes per annum cement grinding asset of Burnpur Cement Limited, marking its entry into the state of Jharkhand.
RTM Watch’s Take
UltraTech Cement’s Q3 results showcase the company’s ability to capitalise on the infrastructure boom in India and its commitment to sustainable practices. The significant increase in net profit and sales volume is a testament to the company’s operational efficiency and strategic initiatives. As the cement industry continues to thrive, it is crucial for companies to maintain a focus on sustainable practices and environmental responsibility. UltraTech Cement’s success serves as an inspiration for other players in the industry to adopt similar strategies and contribute to the nation’s infrastructure development while minimising their environmental impact.
