InvestorQ : Can you tell me about the fourth quarter results of Ultratech Technologies?
shrinidhi Rajan made post

Can you tell me about the fourth quarter results of Ultratech Technologies?

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1 month ago
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UltraTech Cement reported a 45% fall in net profits to Rs.1,775 crore for the Mar-21 quarter. However, this was largely on account of Rs.2,004 crore worth of excess provisions written back as exceptional gains in the Mar-20 quarter. This skewed the profit fall in this quarter. If the impact of the exceptional write back was excluded, then the profits would have actually grown on a yoy basis.

Overall top line sales revenues were up 33% yoy at Rs.14,405 crore on the back of strong demand, growth in volumes and robust prices across select geographies. The big news was on the debt reduction front. In the current quarter, Ultratech reduced its net Debt/EBITDA ratio from 1.72x to 0.55x on a yoy basis. Most loan repayments in the quarter were made through internal accruals from the business cash flows.

Th company is on track for its aggressive capacity expansion plans of 19.5 million tonnes via a mix of brown field and green field expansion and green field projects. The plan will cover 5 integrated cement plants and 12 grinding units. The full capacity accretion will come on board from FY22 or latest by the first half of FY23. Ultratech expects cement demand to be driven by rural and semi-urban housing in the affordable housing space.

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